Region’s home and unit sales down
HOUSE sales across the Wide Bay are down by 14.2 per cent this year, while unit sales are down by 5.2 per cent.
The statistics, released by CoreLogic, revealed that across all dwellings, totalling 5539 properties, the figure was down by 13.4 per cent compared to a year ago and was 4.5 per cent below the five year average for the region.
On average properties were spending 101 days on the market compared to 92 days last year. Property values increased across the board.
The value of homes in the upper quartile increased by 0.7 per cent and in the lower quartile by 0.6 per cent.
The median value of houses was $285,379.
For units, values increased on average by 0.9 per cent in the upper quartile and by 9.5 per cent in the lower quartile.
The median value was $233,494.
The current quarterly report to October revealed that of the separate 50 house and unit markets included in the analysis, more than half have seen values rise over the 12 months to October.
Houses were the best performer over the year, with 16 of the regions analysed recording a rise in values while on the flip side, nine regional areas saw house values decline over the 12 months.
Across the unit market, the results showed a relatively even positive and negative growth spread over the past 12 months, with 13 regions recording a rise in unit values.
Eleven regions saw a decline in unit values.
While it was taking more than three months on average for properties to sell in the region, the fastest selling market was in Ballarat in Victoria, where houses were taking g 33 days on average to sell.
“Overall, our latest data points to an increase of value growth in regional markets, particularly those which are located adjacent to capital cities,” CoreLogic head of research Tim Lawless said.
“As people are priced out of certain capital cities, buyers now appear to be looking to these adjacent regions.”