News

Fears of property 'bubble' looming in some markets

THE housing investment boom that drove up property prices in Mackay and Gladstone is now looming for the Southern Downs and Toowoomba, with property experts warning of a possible bubble.

New regional data from Australian Property Monitors shows increasing house prices in Warwick and Toowoomba, a trend APM senior economist said was driven by "good value" in the area.

In the year to December 2013, median house prices in the Southern Downs region increased by more than 10% to $265,000 and those in Toowoomba went up by 7.8% to $345,000.

The Rose City's market is building on the perception that it is more affordable than its Toowoomba neighbours, APM senior economist Dr Andrew Wilson said.

"It's being looked at as an affordable option to the Toowoomba market, which is moving from being the most affordable of all Queensland regional markets," he said.

"The question is whether Toowoomba will move too far ahead."

But he said Toowoomba was certainly strengthening.

"There is a lot of investor interest in the Toowoomba market because it is the gateway to the Surat Basin," Dr Wilson said.

"It's perceived now as an investor hotspot - I'm not sure if that's a great positive given the experience of Gladstone."

The price for a house or unit in Gladstone has tumbled between 8% and 17% in the past year as its market overheated by billions in gas infrastructure now continues to cool.

In Mackay, median house prices fell 2% while unit prices fell by more than 12%.

In the coalfields shire of Isaac, west of Mackay, house prices dropped by almost 22% from $397,000 down to $310,000. These were prices long inflated by the huge demand created by the resources industry, be it gas development in Gladstone or coal mining in Isaac and Mackay.

The now-calming prices of Central Queensland's mining provinces once drove locals from their home towns as they were increasingly priced out of the market, the effect of a "property bubble".

These areas will be reinvigorated as the Galilee Basin west of Mackay and Rockhampton evolves into an enormous new mining hub.

Gympie, Bundaberg and Fraser Coast regions are likely to improve as they follow the lead of Brisbane, an investment darling with house prices still below its peak of 2010.

House prices on the Sunshine and Gold coasts are also to improve as they are dragged along by Brisbane's momentum.

MEDIAN house prices in Dec 2013 and (Dec 2012)

  • Southern Downs: $265,000 ($240,000) +10.4%
  • Toowoomba: $345,000 ($320,000) +7.8%
  • Bundaberg: $291,000 ($287,000) +1.4%
  • Fraser Coast: $295,000 ($300,000) -1.7%
  • Gladstone: $420,000 ($460,000) -8.7%
  • Gympie: $280,000 ($293,750) -4.7%
  • Ipswich: $320,000 ($308,000) +3.9%
  • Isaac: $310,000 ($397,000) -21.9%
  • Mackay: $412,000 ($420,000) -12.1%
  • Rockhampton: $335,000 ($325,500) +3.1%
  • Sunshine Coast: $460,000 ($448,500) +2.6%

Topics:  property southern downs toowoomba warwick



How to survive a bushfire in your car

IT SOUNDS like a nightmare, but it can happen.

Eight reasons to join the RFS

SPREAD across 93% of Queensland, the Rural Fire Service has about 36,000 volunteers. And you could be one of them.

What if my insurer gives me grief?

CLAIMING your insurance cover after a natural disaster can go one of two ways. It can be a breeze, or like pulling teeth.

New chapter for Warwick Chamber of Commerce

NEW TEAM: Incoming vice-president David Martin and president Julia Keogh go through the hand over with outgoing Chamber of Commerce secretary Brian Tombs.

THE Warwick Chamber of Commerce has a new crew at the helm.

Paramedics clear scene of highway truck rollover

ROLLOVER: A semi-trailed rolled into a ditch heading south on the Cunningham Hwy at Cunningham's Gap, Tarome this morning.

Driver uninjured in highway crash

100 jobs by Christmas challenge earns government praise

Employment Minister Grace Grace applauds Warwick businessman's challenge.

State Government praise for Warwick businessman's challenge.

Local Partners

Businesses challenged to find 100 youth jobs by Christmas

IN THIS, the season of giving, a businessman is challenging business leaders to deliver 100 jobs to unemployed young people for Christmas.


Kernaghan's a 'boy from the bush' with a timeless quality

Country music singer Lee Kernaghan.

Lee Kernaghan is celebrating the 25th year of his breakthrough song.

Don't miss the free Bunnings Christmas party

Free Bunnings Christmas Family Night

WARWICK'S Bunnings Warehouse will come alive tonight for Xmas

Rose City unites in festive event

Erin and Keely Hilton.

Local performers entertain at Carols in the Park

Kernaghan's a 'boy from the bush' with a timeless quality

Country music singer Lee Kernaghan.

Lee Kernaghan is celebrating the 25th year of his breakthrough song.

Irina Shayk and Bradley Cooper happy as baby looms

Irina Shayk and Bradley Cooper are in an "extremely happy place"

Walk in artistic expertise

Local artist, Franco Arcidiacono preparing for the Floor Walk.

Journey through exhibition a special opportunity.

Brad Pitt bids to keep custody battle private

Brad Pitt will go to court to keep his custody battle private

Sia has split from her husband

Sia has split from her husband Erik Anders Lang.

Amy Schumer thanks Barbie trolls for hateful comments

Amy Schumer is in the lead role for the new Barbie movie

Ipswich City Properties asset portfolio retains its value

Ipswich City Council Administration Building, South Street, Ipswich. Photo: Claudia Baxter / The Queensland Times

New website launched by Ipswich City Council

All I want for Xmas is a property bargain

$259,000, 13 Guy Street, Warwick. A block from Warwick's CBD, this graceful character home has three bedrooms and a study.

Ring in Christmas with one of these property bargains under $300,000

INSIDE STORY: The highlights of your $150 million CBD

GRAND PLAN: The highlights of the Ipswich CBD redevelopment and where they will be located.

Work on city heart's radical transformation to begin next year

VOTE IN OUR POLL: Sand mine opponents face serious dilemma

Public meeting for the proposed sand mine at Maroochydore last week.

Coast MP calls on Minister to stop KRA proposal with stroke of a pen

Developer's grand new multi-million dollar estate

NEW ESTATE: This is the only plan revealed by the property developer's new Billabongs Estate in Agnes Water.

DEVELOPER given the go ahead for a massive estate with 149 homes.

Ready to SELL your property?

Post Your Ad Here!