MEDIAN HOUSE PRICES RISE 5%
Gympie has highest rise in Queensland, report shows
OUR housing market has hit a state high, with a new report revealing Gympie recorded the highest median price rise in Queensland.
According to the latest Domain State of the Market Report, the median house price has jumped 5% to $314,000 over the past quarter.
And real estate agents said the growth showed with properties flying off the market quicker than they arrived.
“Things are selling after the first inspection, things are selling after the first open home,” Laguna Real Estate licensee Emily Lang said.
Even better, a number of the homes sold by Laguna had been for the full listed price.
“There are a lot of buyers missing out,” she said.
“Things are selling incredibly quickly.”
She said Gympie buyers were now in competition with buyers from across the state, and the market was not able to meet demand.
Not that the region isn’t trying to keep up, though.
Council reports show that at the end of August, 713 building approvals had been granted in the region, a 36.9% increase over the past four years.
Bambling Property Sales Consultant John Bambling said the high rate of approvals was no doubt helping Gympie.
“It does a lot for the market. You talk to to tradespeople, everyone and they’re always busy,” Mr Bambling said.
“It flows into the whole community.”
It was also adding to the market’s growth, too.
“There’s a lot of new houses being bought in Gympie,” he said.
It was becoming more common for people to enter the Gympie market on more than one occasion, too.
“There’s a lot more people buying investment properties as well,” he said.
“There’s a lot of facilities and infrastructure in Gympie, and it’s still very well priced compared to down south.”
While Century 21 principal Billy Mitchell said there was some surprise over the median reported by Domain, there was none on the fact Gympie was steaming ahead.
Entry level properties were becoming a particular rarity.
“They’re really not lasting very long on the market,” he said.
It was also a market trend he felt was not going to slow down soon, either.
“Historically over the last three or four years we’ve had a really good last quarter,” he said. “I don’t have a crystal ball but we should have good solid growth into 2018 and 2019.”
There are a lot of buyers missing out.
— Emily Lang
ON HIGH: Scott Kovacevic overlooks Gympie’s booming housing market, which has risen 5% in the last quarter according to Domain.