Queensland’s regional property markets are making a comeback since the mining downturn

Posted on October 6, 2020Categories bfymlamyTags , , , , , , , , , , ,   Leave a comment on Queensland’s regional property markets are making a comeback since the mining downturn

first_imgThe Flinders council region, which includes Hughenden, wherethis house is listed for sale for $165,000, experienced strong median house price growth in the past quarter. Picture: realestate.com.auQUEENSLAND’S regional property markets took a big hit during the mining downturn, but new figures reveal they are finally clawing their way back.According to CoreLogic nationally the fall off in regional property prices slowed with no change to dwelling values during October.CoreLogic analyst Cameron Kusher said while the data indicated the rate of dwelling value growth was slowing, there were some differences across the regional markets of the states.In regional Queensland dwelling values had a slight dip, during October – down by 0.2 per cent, but they were 1.6 per cent higher over the past year.More from news02:37Purchasers snap up every residence in the $40 million Siarn Palm Beach North2 hours agoNew apartments released at idyllic retirement community Samford Grove Presented by “Regional Queensland dwelling value growth has continued to underperform the quite moderate growth in Brisbane as regions outside of the southeast corner continue to drag on the performance,’’ Mr Kusher said. SIGN UP TO GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX He said growth in regional dwelling values generally continued to lag capital cities, but in most states they were stronger than they had been in recent years.The latest CoreLogic median house price data to the end of August, reveals that the three best performing regional councils were Flinders, Blackall Tambo and Central Highlands.Median house prices in Flinders were up by 25 per cent in the past quarter, although it was still at a low $100,000.In Blackall Tambo the median house price increased 9.6 per cent to $80,000 and in Central Highlands the median house prices increased 4.7 per cent to $195,000.last_img read more