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Queensland median update




The quarterly median house price and median unit price in Brisbane LGA slipped fractionally in the September quarter, a consequence of strong supply flowing to the unit market and easing demand impacting the housing market. The median house price of $635,000 was just 1.6% below June quarter and the unit price of $430,000 was just 2.7% down on the previous quarter.

However, while there were small quarterly falls, the annual figures show a house market continuing to hold its own – Brisbane’s annual median of $635,000 is 4.1% higher than September 2015 and 22.7% higher than 5 years ago, when the median house price was $517,500. Similarly, the annual median unit price of $440,000, while it is 1.1% below 12 months ago, is still an encouraging 8.5% higher than 5 years ago when it was $405,500.

REIQ CEO Antonia Mercorella said it was encouraging that the markets were holding onto the gains that have been made over the past 5years.

“With the news released last week that the Adani Carmichael coal mine is very close to becoming a reality, we are optimistic that our state’s real estate market will get a boost.

“Jobs mean growth and the regional communities of Townsville, Mackay and Rockhampton have been declared as hubs for the Adani workforce, which is great news for those real estate markets.

“Workers need housing, both rental and owner-occupied, and for every base job created by the mine, another six indirect jobs are created in related industries,” Ms Mercorella said.

Standard & Poor’s released its report into mortgage defaults and out of the top 10 worst-performing postcodes Queensland was home to seven of them, with three of them in the Mackay region.

“Our regions have been suffering enormously since the mining downturn, with rising vacancy rates and falling median house prices, so with the news that the Adani mine will create up to 4000 jobs in the first year, the outlook in these areas is brighter,” Ms Mercorella said.

Greater Brisbane:

The median house price in greater Brisbane fell slightly this quarter, however, is still showing reasonable growth in the medium term, with the annual median house price of $495,000 still 3.1% higher than a year ago, and 12.5% higher than 5 years ago.

The median unit price continues to struggle to hold steady, with the annual median of $402,000 down 2% on a year ago, but 5.8% higher than 5 years ago (when it was $380,000).


The Ipswich house market has been the standout performer in the Brisbane outer surrounds, growing 1.4% since last quarter, to $325,000. The annual median price of $324,000 is 1.1% higher than a year ago and 3.7% higher than 5years ago.

Unfortunately, the Ipswich unit market has struggled this quarter, falling 13.8% to a median price of $235,000. The unit market has slipped compared with where it was 12 months ago, by 3.6%, but is still 4.8% higher than 5 years ago, when it was $281,500.

“Ipswich represents outstanding value and the falls in unit prices are simply a reflection of easing demand in this sector. The housing market continues to offer excellent buying opportunities and is one of the fastest growing regions in Queensland, if not the country,” Ms Mercorella said.

“We are confident in the continued growth of the house and unit markets in Ipswich,” she said.


The Logan median house price of $372,000 represented a 2.1% fall from June to the September quarter. However, like Ipswich, Logan is still growing, albeit moderately, with the annual median house price of $375,000 a total of 4.2% higher than a year ago and 7.1% higher than 5 years ago.

The Logan median unit price of $246,000 is 1.6% lower than last quarter. However, it has held steady when compared with a year ago, which is a good sign that the market has stabilised.

Moreton Bay:

The new rail line extension to Petrie will have cascading benefits for the real estate market throughout the Moreton Bay area.

The September annual median house price of $416,500 is 2.8% higher than a year ago and 9.6% higher than 5 years ago.

“There are good indicators that this market will continue its trajectory of small-to-moderate, sustainable growth rates in the short-to-medium term,” Ms Mercorella said.


“The September quarter median house price of $500,000 has held steady on last quarter,” Ms Mercorella said.

“The annual median of $499,000 is 3.4% higher than this time last year and 11.6% higher than the median of $447,000 5years ago,” she said.

The Redland unit market is experiencing some volatility and while the quarterly median of $365,000 has fallen 6.2% compared with the June median, the annual median of $380,000 is still 8.6% higher than 5 years ago.

Gold Coast:

The market for both houses and units on the Gold Coast is doing well, although it can be described as patchy, with some areas virtually booming, while others are keeping pace with inflation.

“The annual median house price of $565,000 is 5.6% higher than last year and 16.5% higher than 5years ago, which shows the market is a consistent performer,” Ms Mercorella said.

“The unit market has performed similarly well, with the annual median of $390,000 this quarter 4.8% higher than this time last year and 6.6% higher than this time 2011,” she said.


“Much like Cairns, Toowoomba is one of the few regional markets to buck the trend of falling medians,” Ms Mercorella said.

“The quarterly median of $350,000 is 1.5% higher than last quarter. The market is also performing well over the medium term, with 19.6% growth on the median of $292,750 in 2011,” she said.

“The Toowoomba unit market is probably the best performing unit market in the state, if not Australia, and has grown 26.8% in 5 years, which is probably a result of workers being drawn to the area for the large range of infrastructure projects,” she said.

Sunshine Coast:

“The Sunshine Coast LGA held relatively steady this quarter, with the median house price of $515,000 just 1% below last quarter. Looking at annual figures, the median house price of $515,000 has grown 5.1% since this time last year and 17% from this time 5years ago,” Ms Mercorella said.

The larger area of the Sunshine Coast SD, which includes Noosa, has grown 4% on this time last year, with an annual median house price of $520,000. This represents 15.6% growth on 5 years ago.

“With a broad range of infrastructure projects either under way or proposed for this part of Queensland, underpinned by a strong tourism economy, we feel the outlook continues to look rosy for the Sunshine Coast,” Ms Mercorella said.

Fraser Coast:

The Fraser Coast is best described as holding steady. The median house price of $300,000 is the same as last quarter – no growth, but no fall either. The annual median house price of $300,000 is just 1.6% lower than this time last year. Compared with 5 years ago, there has been growth of around 3.4%.

“The stability of the median house price is an indication that this market has found a level both buyers and sellers are comfortable with,” Ms Mercorella said.

The grants have also helped this market stabilise, with the State Government first home buyer grant of $20,000 and the local government grant of $12,000 being well accessed.

“Of course, owner occupiers would like greater growth in their property, however, the key is sustainable growth and we are optimistic that the market will soon enter recovery phase.”


The Bundaberg median house price fell 9.6% from the June quarter to the September quarter.  The annual median house price is $270,750 and this is 3.3% below this time last year, and 3.6% below this time 5 years ago.

The annual median unit price is $263,000 which is 1.9% higher than last year and 3.1% higher than 5 years ago.


“Without exception, Gladstone’s real estate market has taken the brunt of the mining downturn. Also, the winding down of construction of the LNG plants has left displaced workers seeking work elsewhere,” Ms Mercorella said.

The Gladstone median house price of $275,000 is 16.7% below last quarter. The annual median of $336,000 is 9.2% below a year ago and is 20.4% below the median 5 years ago (which was $422,000).

“Our hope is that a range of factors, including growth in the LNG production, increased tourism via international cruise ships docking at Gladstone, and the Adani mine commencement, will help stabilise this region and the economy will recover,” Ms Mercorella said.


The Rockhampton median house price of $287,000 is 11% higher than last quarter, which is a reflection of the volatility in the market. The market is small, with just 145 transactions in the preliminary data, which means it is easily skewed.

The annual median house price of $275,000 is 6.8% below a year ago and is almost 10% below 5 years ago, when the median was $305,000.


The Mackay market is one of the most challenged in the country, with some suburbs more than 25% below the median house price 5 years ago.

The September quarter median of $318,750 represented 0.7% growth on last quarter and the annual median of $330,000 is 9.6% below a year ago. The median house price 5 years ago was $410,000 and the September annual median is 19.5% below this level.


The Townsville median house price slipped 1.5%, to $330,000. It has also fallen below the 12 month mark, by 2.9% and is now, also, below the 5 year mark, by 8.1%.

“This is troubling, however, there are several key projects being undertaken in Townsville from both private and public investors that will create jobs and improve the local economy,” Ms Mercorella said.

“Of course, the Adani mine has announced it will headquarter its operations in Townsville, creating between 200 and 500 local jobs, which will provide a significant boost to the economy and to the housing market.

“The outlook is positive for this market,” Ms Mercorella said.

The median unit price improved by 0.9%, to a September quarterly price of $277,500, however, this sector is still 12.3% behind the median 5 years ago of $325,000.


The Cairns market is one of the few regional markets that is performing moderately well in both houses and units.

The median house price of $395,000 is the same as last quarter, which makes Cairns one of the few markets to withstand the median house price falls that other regions experienced.

“Cairns is 10% higher than 5 years ago, giving it a solid level of growth over the median term, which gives investors and owner occupiers confidence in this northern city’s real estate market,” Ms Mercorella said.

“The unit market is growing when compared with a year ago and also compared with five years ago, a remarkable feat when compared with similar regional markets.

“The September quarterly price of $238,000 is just 0.4% below the June quarter. The annual median unit price of $235,000 is 4.4% higher than 12 months ago and this brings it back into positive territory at the 5 year mark, also, with 2.2% growth.”


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Market Place

Top 68 suburbs for growth in Queensland revealed



Top 68 suburbs for growth in Queensland revealed

Top 68 suburbs for growth in Queensland revealed. New data has shown the top 68 suburbs in Queensland for capital growth over the last 12 months to June, with the number one spot reaching triple digits.

Top 68 suburbs for growth in Queensland revealed

Outlined in the Real Estate Institute of Queensland’s Queensland Market Monitor report, REIQ CEO Antonia Mercorella said despite the ‘doom and gloom’ of the property market, there are still locations that are seeing large gains in profitability.

“A total of 68 suburbs throughout Queensland have delivered double-digit growth over 12 months, which is a really strong result,” Ms Mercorella said.

“And there are many more suburbs delivering strong single-digit growth. It’s a great market to be in at the moment.”

While south-east Queensland saw a lot of attention, there were some high growth suburbs found in central and northern Queensland.

The area with the strongest growth was Blackwater, which saw a rise of 151 per cent growth, which Ms Mercorella attributed to the resurgence of coal prices.

Aside from Blackwater, 10 other suburbs saw growth over 20 percent. These included:

  • Spring Mountain with growth of 103.6 per cent;
  • Collinsville with growth of 46.2 per cent;
  • Minyama with growth of 45.8 per cent;
  • Hamilton with growth of 32.9 per cent;
  • Hollywell with growth of 30.5 per cent;
  • Miles with growth of 23.5 per cent;
  • Mount Coolum with growth of 21.9 per cent;
  • Dundowran beach with growth of 21.5 per cent;
  • Boonah with growth of 21.3 per cent; and
  • Idalia with growth of 21.3 per cent.

Ms Mercorella said the top 11 suburbs were indicative of steady growth across the state, but warned against calling it a ‘boom’.

“While we’re definitely seeing prices come back in western Queensland mining towns, such as Blackwater, these prices are still below their peak,” she said.

It’s unlikely we’ll see a return to pre-2013 prices in those areas anytime soon.”

South-east Queensland

While the top 11 suburbs show a spread of high growth suburbs through the state, 41 suburbs out of the 68 are located in the ever-popular south east corner of Queensland.

Of these, 15 suburbs were located in the Sunshine Coast region, with the highest growing being Minyama, which ranked fourth overall.

The Brisbane region also saw a large number of high performing suburbs at 13. Hamilton was the region’s best performer and fifth overall.

Next was Ipswich with six suburbs, then the Gold Coast with four, Moreton Bay with three, while Redland and Logan suburbs did not rank.

Regional Queensland

Outside of south east Queensland, 27 regional suburbs ranked on the list, with the Townsville region recording four suburbs. Its highest performer was Idalia, which ranked 11th overall.

Next were the Cairns and Gympie regions, both recording three suburbs each. Cairns’ top performer was Palm Cove, which ranked 26th overall, while Cooloola Cove was Gympie’s top performer, which ranked 42nd overall.

While only recording one suburb, the Whitsunday region’s Collinsville ranked third overall.

The Bundaberg and Toowoomba regions both recorded two top suburbs, while the Banana, Charters Towers, Fraser Coast, Gladstone, Isaac, Livingstone, Mackay, Rocky, Scenic Rim, Somerset and Western Downs regions all had one top suburb each

The top 68 suburbs which experienced double digit growth over the last year to June 2018, according to the REIQ, are:

RankSuburbMedian priceCapital growth over 12 months (as a percentage)
2Spring Mountain$450,000103.6%
8Mount Coolum$670,00021.9%
9Dundowran Beach$607,00021.5%
15Burnett Heads$317,00018.1%
19Sunshine Beach$1,400,00016.7%
20Noosa Heads$1,070,00016.0%
21Hope Island$739,75015.7%
24North Ward$575,00015.0%
26Palm Cove$606,00014.3%
27Charters Towers City$142,50014.0%
28Pelican Waters$761,00013.9%
29Cooee Bay$313,00013.8%
30Mount Ommaney$944,00013.7%
32The Range$380,00013.4%
35North Mackay$270,00013.2%
41Coes Creek$442,50012.0%
42Cooloola Cove$317,50012.0%
43Battery Hill$578,00012.0%
44Seven Hills$940,00011.9%
48Clifton Beach$557,50011.5%
50Twin Waters$823,00011.2%
53Coolum Beach$675,25011.2%
55Sunrise Beach$820,00011.0%
58Mountain Creek$610,00010.9%
59Flinders View$371,50010.9%
60Highland Park$570,00010.7%
65Railway Estate$309,50010.1%
67Rainbow Beach$489,50010.0%
68Ormeau Hills$530,00010.0%


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Market Place

Real estate market in southeast Queensland has made a comeback since the GFC



queensland tourist
queensland tourist

While the property market has come back on the Sunshine Coast, there are still some bargains to be had. Picture: Lachie MillardSource:News Corp Australia

LAST week with the family in tow, we ventured up the Bruce Highway to the Sunshine Coast.

I was calling auctions at Maroochydore for a number of offices on the coast, so we decided to mix business and pleasure and make a holiday out of it.

It was no small auction event either. The offices had amassed 66 properties from entry level units, canal front homes and even beach front penthouses!

I was calling the auctions with my regular coastal auctioneering partner Dan Sowden, principal at Ray White Maroochydore and the day was decorated with highlights.

But the value on the Sunshine Coast, and again the Queensland market, for me was an absolute stand out.

Bidding on one apartment in particular, 119/223 Weyba Rd, Noosaville, paused at $85,000. It’s a studio apartment and while it wasn’t sitting next to, Sails, on Hastings Street, it’s not in the middle of nowhere either.

I couldn’t believe the numbers I was calling out. When no one pushed beyond $85,000 we made the recommendation to pass the property in and I see it’s now listed at $102,000. Unbelievable!

queensland tourist

119/223 Weyba Rd, Noosaville is now listed for $102,000. Picture:

We also sold the million dollar plus penthouses and the glamour properties too. It took us about six hours and the event was filled with excitement and drama.

But it’s the value story that I think will surprise many people, it certainly surprised me.

The Sunshine Coast has a relaxed holiday lifestyle, it has amazing beaches and world class restaurants.

So with all that on offer there will always be multimillion-dollar homes on the Sunshine Coast, but sub $100,000 properties, even sub $300,000 properties are a genuine reality for the discerning buyer

Every school holiday, and as we step closer to Christmas, many Aussie’s will do what we did this week and head to the beach. They will likely have had to pay a peak season rate for their accommodation and quite often that can spark the idea of buying a holiday house.

The Sunshine Coast was one of the hardest hit markets in the GFC, this impact is still showing value today. If the dinner table conversation involves a coastal retreat, before you squash it on account of affordability, I’d head to or grab a copy of the Sunshine Coast Daily, you too might be surprised by the value, there appears to be property for all budgets.

Originally published as Coast tourist hot spot where bargains can be found

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Market Place

Where you can rent in Brisbane for only $400 a week



rent in brisbane

While renters in southern capitals such as Sydney and Melbourne worry about how to pay each week – let alone how to save a home deposit – Brisbane tenants can affordably rent within cooee of the city.

Domain Group data shows that there are 14 suburbs in the Brisbane City Council area with median rental prices of just $400 per week.

While renting an affordable unit can see you living within a couple of kilometres of the CBD, middle-ring houses in suburbs such as Upper Mount Gravatt and Oxley can also be leased affordably, according to the data.

brisbane rent
Mount Gravatt, on Brisbane’s south side, is one suburb where you can rent a house for $400 a week.

Real Estate Institute of Queensland (REIQ) CEO Antonia Mercorella said Brisbane offered tenants the “best of both worlds” due to the affordability of desirable rental locations.

“Probably one of the strongest benefits is that you don’t have to go very far from the CBD to reach an affordable price point,” she said.

“Suburbs such as Bowen Hills, Cannon Hill, Kelvin Grove, Morningside and New Farm are all well serviced by public transport and are all within five kilometres of the CBD – you would never get that in Sydney or Melbourne.”

Some of the suburbs have more than just proximity to the city to offer, she said.

rent in brisbane
Morningside, in Brisbane’s east, offers great value for tenants.

Kelvin Grove has some of Brisbane’s best schools and is very well serviced with public transport options, Ms Mercorella said.

“Springfield Lakes is one of the most popular new areas, and at the last Census was one of our fastest growing regions in Australia,” she said.

“It is a master-planned community that offers families a lifestyle option – lakefront living with a community feel.

“Morningside is a suburb in transformation, with a number of new small-lot developments renewing the area. It is also a suburb in close proximity to the prestige Hawthorne and Bulimba pocket at more affordable prices.”

Ray White New Farm’s Haesley Cush said inner-city tenant demand continued to grow strongly, with unit rental prices softer due to the ample supply of new apartments that had hit the market.

rent in brisbane
Tenants have the upper hand these days in Brisbane – a positive side effect of the apartment oversupply.

“Developers were so intent on letting out their properties because they had rental guarantees … that incentives came into the rental market for residential property for the first time in as long as I can remember,” he said.

“That put downward pressure on mum and dad investors with older units to compete with a brand-new unit where the developer not only has a better product in a lot of ways, but they were also offering incentives.”

Mr Cush said the new competition resulted in rents falling by about 30 per cent in New Farm. Lower interest rates were lessening the financial impact on landlords, however.

With supply of new units still high, most landlords were opting to retain their existing tenants and slowly increase the rent over time rather than take a punt on the open market, he said.

rest in brisbane
Brisbane’s median rent price is $400 a week.

Mr Cush said southern buyers and renters were starting to stake their claim on the Brisbane rental and sales markets.

“I do think they won’t return once they get up here. The weather is better, school fees are cheaper, and it’s not the compromise in lifestyle for the difference in price,” he said.

“It does have less people, you don’t get as good a meal on a Monday, Tuesday or Wednesday, and you can’t dine after 9.30pm still in most places, but for what is in some cases half the rent and sales price, we’re not talking about half the lifestyle.”


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