Prop­erty price hike to ri­val the Bris­bane mar­ket

Stanthorpe Border Post - - NEWS -

THERE’S one part of the South­ern Downs where prop­erty prices have grown faster than Bris­bane.

It’s Stan­thorpe.

Data re­leased by the Real Es­tate In­sti­tute of Queens­land shows the town’s me­dian house prices in­creased about 8.3 per cent in the past year.

The me­dian price is up from $240,000 in 2016/17 to $260,000 in 2017/18.

This is much higher than the Bris­bane-wide av­er­age of two per cent and ri­vals break­out pock­ets like the leafy Bris­bane sub­urbs Bulimba (10.6 per cent) and Hendra (12.7 per cent).

Stan­thorpe real es­tate agent Anne Lind­say said com­bi­na­tion of life­style choices and value for money was mo­ti­vat­ing many re­cent sales. “Any­thing within 2.5 hours drive from a ma­jor city will al­ways be pop­u­lar,” she said. “A good cross­sec­tion of peo­ple are buy­ing homes, there is al­ways the re­tired peo­ple who want a life­style change and we are getting more younger fam­i­lies com­ing into the area be­cause it is bet­ter suited to their fi­nances.”

Many soon-to-be-re­tired in­vestors are look­ing at Stan­thorpe over the long term, buy­ing homes now while the mar­ket is favourable be­fore mov­ing out from the city.

“Some will rent them and oth­ers will let them sit here and use them as a hol­i­day es­cape,” Ms Lind­say said.

Neigh­bour­ing town Warwick, on the other hand, is best de­scribed as be­ing luke­warm. In the past year Warwick’s prices only went up by two per cent, slightly ahead of in­fla­tion.

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