Stellar growth begins to slow
HOUSE prices in regional Queensland rose 8 per cent over the past year but that growth may be slowing, according to a new report.
The REA Insights Home Price Index shows dwelling values in Queensland’s regions grew by 1 per cent over the last quarter, but just 0.1 per cent in the past month.
But after a stellar year-long performance by the regions, and amid suggestions of a population shift away from the major cities, just four regions recorded positive growth over the last quarter and month: Cairns, Central Queensland, Mackay- Isaac- Whitsunday and the Sunshine Coast.
The top performer over the year, quarter and month was the Sunshine Coast, which saw dwelling values rise 0.13 per cent over the month and 9.04 per cent over the year.
Cairns, which had one of the smallest overall boosts to house prices during 2020, recorded 0.27 per cent growth in dwelling values over the last month, while the MackayIsaac-whitsunday region recorded 0.28 per cent growth.
“National dwelling prices increased by 0.4 per cent in February 2021, with price rises continuing but at a slower pace,” the REA report said.
In Townsville, dwelling values rose 4.92 per cent over the year but fell 0.43 per cent over the quarter and 0.23 per cent last month, according to REA.
“Townsville is an interesting one,” REA economic research executive manager Cameron Kusher said. “Its values were up 4.92 per cent (over the year) but it wasn’t as strong as some other regions.”
Mr Kusher said the data suggested that growth in the regions outside of the southeast corner was largely being driven by local residents upgrading or buying a second house.
But he said Townsville was seeing “some good growth” on a suburb-by-suburb basis.
“That could be due to the type of product (dwelling) being sold and the strong owner-occupier market,” he said.
“I think that a lot of the people who were going to make the move to the regions have done it and now, with the capitals opening up, a vaccine being rolled out and some people returning to the office, that growth (in the regions) will likely slow down.”
More localised data shows that 14 Townsville suburbs recorded double-digit price growth over the past year.
Belgian Gardens led the charge with 58.6 per cent growth. It was followed by Mysterton (31.1 per cent), North Ward (27.3 per cent), Castle Hill (23.1 per cent) and Jensen (22.8 per cent).
There is less data available for the quarter, but Railway Estate and Kelso both recorded growth of 18.9 per cent and 3.3 per cent respectively.
THEY say never smile at a crocodile, and now that Jupiter has all his teeth back, it’s pretty sound advice.
It’s been five years since the 4.3m monster arrived at Billabong Sanctuary, emaciated, starving and missing two thirds of his teeth after being caught behind the Tobruk Pool at the southern end of The Strand.
First spotted off Pallarenda, the estimated 65-year-old giant was hauled onto the beach around midnight by wildlife officers.
Reptile keeper Damien Randall said Jupiter went through a de-stressing period before being moved to the sanctuary.
“There’s a period where the crocodile goes from a wild crocodile to a captive crocodile,” he said.
“For Jupiter, that was a very short period because he was so emaciated he needed that food urgently.”
For his fifth anniversary on Friday, Jupiter was fed a piglet at the midday croc show, a once-in-five-years treat.