ME­DIAN HOUSE PRICES RISE 5%

Gympie has high­est rise in Queens­land, re­port shows

The Gympie Times - - NEWS - . SCOTT KOVACEVIC Re­porter scott.kovacevic@gympi­etimes.com

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

PHOTO: RE­NEE AL­BRECHT

ON HIGH: Scott Kovacevic over­looks Gympie’s boom­ing hous­ing mar­ket, which has risen 5% in the last quar­ter ac­cord­ing to Do­main.

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