Biloela agent finds real positive in market
THE Biloela real estate market is matching the market levels in other towns across regional Queensland according to Ray White Biloela principal Mark Simpson.
Mr Simpson was speaking at a Biloela Enterprises meeting about the region’s real estate market and predictions for its future.
Audience members were shown data detailing the history of the region’s residential, commercial and rural property market since 2000 including the growth spurt triggered by the resource boom from 2003-2008.
“The average price in 2000 was $94,200 and now it is $245,000,” Mr Simpson said.
“There are sales happening but the market isn’t as good as it was 10 years ago but it’s not anywhere.
“What is happening in Biloela is happening in other areas such as Emerald, Gladstone, Calliope, Roma, Chinchilla.
“From a buyer’s point of view the market is good, there are plenty of listings. But from a seller’s point of view the market is slow.”
Mr Simpson said despite supply outstripping demand, there were positives for the market.
“The positive things is accommodation is affordable in Biloela,” he said.
“For people wanting to get into the property market it is affordable and enables them to get into it when 10 years ago they would have struggled.
“Ten years ago we had people sleeping in their cars. They couldn’t afford or find accommodation. So that is a positive if you are trying to attract a workforce.”
Mr Simpson said the market has been stable since bottoming out in 2015.
“In 2016 there was a 25% increase in the number of sales and at the moment that is maintained,” he said.