House prices on the rise as mar­ket kicks into gear across Queens­land

The Courier-Mail - Property - - NEWS - WENDY HUGHES

QUEENS­LAND real es­tate is start­ing to glow with the lat­est fig­ures show­ing heart­en­ing up­swings in me­dian houses prices across the state.

Cur­rumbin on the Gold Coast shone bright­est with a hefty 31.8 per cent quar­terly gain on its me­dian house price up un­til April, to $762,000, and Townville’s Hyde Park proved a hot pocket with an in­crease of 19.4 per cent to $430,000, ac­cord­ing to RP Data fig­ures.

Slot­ting in be­tween the two was a sur­prise ap­pear­ance by the tiny beachy More­ton Bay town­ship of Toor­bul – with a pop­u­la­tion of just un­der 900 – where the me­dian house price gained 21.7 per cent to $365,000.

Ray White Mermaid Beach’s Troy Dowker said Cur­rumbin’s up­ward-bound me­dian house price re­flected a cou­ple of beach­front pres­tige sales but also the blue chip beach strip’s on­go­ing pop­u­lar­ity.

“It of­fers one of the best life­styles on the Gold Coast and a vil­lage-style am­bi­ence, and never goes out of flavour,” Mr Dowker said.

“It’s such a nar­row cor­ri­dor along the coast, there is very lit­tle res­i­den­tial sup­ply and it is very tightly held.”

Mr Dowker is mar­ket­ing 814 Pa­cific Pde, a mod­ern beach­front house with granny flat, to be auc­tioned on Au­gust 2. Round­ing out the state’s top five big­gest growth sub­urbs for the quar­ter were Bund­aberg’s Avon­dale – up 18.6 per cent to $255,000 – and Coominya, sit­ting pretty as is does be­side Wiven­hoe Dam in the state’s south­east, with a rise of 18.5 per cent to $320,000.

The big­gest growth sub­urbs in the greater Bris­bane re­gion for the quar­ter, af­ter Toor­bul, were Mount Om­maney and Mar­burg, both record­ing gains of 13.3 per cent, to $765,000 and $366,000 re­spec­tively. Ocean View’s me­dian house price rose by 21.1 per cent to $650,000 and Ip­swich showed an in­crease of 11.9 per cent to $309,000.

Mean­while, prices in the pres­tige post­code of Hamil­ton con­tinue to mel­low – its me­dian house price dropped by 10.7 per cent to $1,028,000 for the three months to April. How­ever, this was bet­ter than its 12-month change in me­dian prices of -26.6 per cent.

But there are signs aplenty that Bris­bane’s property mar­ket is find­ing its groove.

Buy­ers were out in force when Ray White New Farm staged its first “auc­tions un­der the stars” twi­light event ear­lier this month, re­sult­ing in seven prop­er­ties sold un­der the ham­mer, a 70 per cent clear­ance rate.

“The suc­cess of this event left no shadow of doubt about the state of the cur­rent mar­ket,” Ray White New Farm’s prin­ci­pal Matt Lan­cashire said.

While prop­er­ties were the main draw­card, there were other temptations on of­fer, namely canapés sup­plied by James St’s su­per-star restau­rant Ger­ard’s Bistro.

The event at­tracted more than 220 people, with 100 reg­is­tered bid­ders for the 10 prop­er­ties. Those that sold spanned from a unit at 5/59 Col­lage St, Hamil­ton, that reached $400,000 to an apart­ment at 56/54 Ver­non Tce, Teneriffe, that sold for $800,000.

This Teneriffe unit at 54/56 Ver­non Tce was one of seven prop­er­ties that sold un­der the ham­mer.

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