REIQ'S latest Quarterly Market Monitor had some interesting takeaways for the Gympie region.
REIQ'S latest Quarterly Market Monitor had some interesting takeaways for the Gympie region.

How Gympie house prices are growing more than Brisbane, GC

GYMPIE'S real estate market ended the year more positively than Brisbane, the Fraser Coast and the Sunshine Coast, according to newly released data taken from this month's REIQ Queensland Market Monitor.

Despite a 8.9 per cent softening from 106 sales of houses under 2400sq m at a median price of $280,000 in the last quarter, REIQ CEO Antonia Mercorella said the Gympie LGA made a positive mark overall last year.

"The Gympie real estate market had a positive year, ending 2018 with 1.8 per cent growth to reach an annual median house price of $290,000. To put this into context, it's a greater rate of growth than the Brisbane LGA, which was only 1.1 per cent growth for the year,” Ms Mercorella said.

"It was also greater ... than the Fraser Coast, which posted growth of a slender 0.5 per cent.

"However, it was a somewhat turbulent quarter for most markets and Gympie is no exception. The quarterly activity shows a fall of 8.9 per cent and this could be an indication of things to come as the banks continue to restrict lending and some buyer groups find it difficult to access finance.”

Gympie also saw a stronger annual rise than the Gold Coast (1.4 per cent) and Toowoomba (minus 0.9 per cent).

The Sunshine Coast LGA saw stronger growth for 2018 with 4.9 per cent rise taking the overall median house price to $585,000.

Ms Mercorella said the report also showed a mixed bag for Gympie's rental market.

"The rental market is performing reasonably well as rents for three-bed houses rise by $20 a week, from $280 to $300.

"This is an indication that demand is steady and landlords are getting good tenancies. However, the number of new bonds lodged has eased, so we will watch this market for the year ahead to see how it fares.”

Gympie Times


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