Gympie houses sell­ing for more

The Gympie Times - - NEWS - JOSHUA PRE­STON Joshua.Pre­[email protected]­etimes.com

PRE­LIM­I­NARY data from the REIQ’S lat­est Quar­terly Mar­ket Mon­i­tor has re­vealed the Gympie re­gion’s an­nual and five-year house price growth has outperformed the Fraser Coast and South Bur­nett re­gions.

The lat­est batch of data shows the Gympie LGA sold 121 houses at a me­dian sale price of $307,500 for a quar­terly change of 6.5 per cent, ahead of our north­ern neigh­bours (3.2 per cent).

South Bur­nett (6.7 per cent) reg­is­tered big­ger quar­terly growth on fewer sales (50), but Gympie was best in the other two ma­jor cat­e­gories.

REIQ CEO An­to­nia Mer­corella noted Gympie had “per­formed solidly” in the past year.

“(Gympie’s) me­dian house price (has grown) 2.7 per cent to $290,000,” Ms Mer­corella said.

“This com­pares favourably with sur­round­ing mar­kets, such as the Fraser Coast, which grew just 1.1 per cent over the same pe­riod and South Bur­nett, which fell 0.8 per cent over the same pe­riod.

“Sales ac­tiv­ity of more than 600 trans­ac­tions in Gympie also in­di­cates a solid level of ac­tiv­ity over the year and sup­ports the po­si­tion that this mar­ket is per­form­ing well.

“Com­pared with Bris­bane, which grew 2.3 per cent, the Gympie house mar­ket has com­pared well to other mar­kets.”

Ms Mer­corella said the re­gion’s “mod­est” five-year mark had still out­ranked sur­round­ing ar­eas.

“Over the past five years the Gympie house mar­ket has grown 12.8 per cent, which ... has again outperformed larger mar­ket of the Fraser Coast. This is a good in­di­ca­tor that growth is sus­tain­able.”

Gympie’s me­dian unit sale, which soft­ened by 6.2 per cent an­nu­ally and 7.9 per cent since 2013, was put down to a “prod­uct of some over­sup­ply, which is tem­po­rary”.

View the full re­port on­line.

Photo: Philippe Co­querand

SOLID: The Gympie re­gion has per­formed well in me­dian house sales, ac­cord­ing to REIQ data.

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