QLD top-growth suburbs deliver

ALMOST 70 Queensland suburbs produced double digit growth over 12 months to June, according to the latest REIQ research from the Queensland Market Monitor report.

REIQ CEO Antonia Mercorella said while many headlines 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 throughout Queensland have delivered double-digit growth over 12 months, which is a really 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."

The suburbs delivering good growth are not all focused in the southeast corner, with a liberal sprinkling of suburbs throughout central and northern Queensland.

"The top area delivering the strongest growth has been Blackwater, with 151 per cent growth. This is a results of the resurgence in coal prices and the low base starting point," Ms Mercorella said.

"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," Ms Mercorella said.

Ms Mercorella cautioned against celebrating another ‘boom’.

"While we’re definitely seeing prices come back in western Queensland mining towns, such as Blackwater, these prices are still below their peak. It’s unlikely we’ll see a return to pre-2013 prices in those areas anytime soon," she said.

Other regions reporting at least one suburb on the list were Bundaberg, Toowoomba (Oakey and Cambooya), Banana, Charters Towers, Fraser Coast, Gladstone, Isaac, Livingstone, Mackay, Rocky, Scenic Rim, Somerset and Western Downs.