Oakey and Cambooya see growth
Property values rise in towns
TWO greater Toowoomba region suburbs were in the top 68 performing real estate suburbs in Queensland, new data has revealed.
The Real Estate Institute of Queensland’s latest market monitor report revealed Cambooya and Oakey recorded double figure growth last financial year.
Cambooya property prices went up 11.2 per cent between July 2017 and June 2018, with 28 sales, averaging $322,500.
It had the 51st highest growth rate in the state.
Oakey property prices jumped 11 per cent, with 39 sales averaging $241,500. This was the 56th highest growth rate in the state.
REIQ CEO Antonia Mercorella said while many predicted doom and gloom for the property market, the reality was very different with many markets in Queensland performing exceptionally well.
“A total of 68 suburbs all throughout Queensland have delivered double-digit growth over 12 months, which is a real- ly strong result,” she said.
“And there are many more suburbs delivering strong single-digit growth. It’s a great market to be in at the moment.
“This spread of suburbs is a good indication that Queensland real estate is delivering steady sustainable growth across the board. We’re seeing growth outside the southeast corner.”
The suburb that had the highest growth rate in Queensland was Blackwater, in the Central Highlands, which recorded a growth rate of 151 per cent.
The data was based on properties less than 2400 square metres in size.