Australia is experiencing a national downturn in property prices, prompting investors to look for affordable options in regional Queensland. While analysts predict a modest decline followed by a rebound, the current trend risks pricing out locals from their own towns. The traditionally hot markets of the Sunshine and Gold coasts are expected to follow suit, with CoreLogic reporting a slight dip in December. Experts anticipate significant price growth in areas like Mackay, Townsville, and Gladstone, driven by high demand and lifestyle appeal.
Australia is facing a national downturn in property prices , pushing investors to hunt for bargains in regional Queensland .Analysts say the downturn is not expected to be severe, with a fall in interest rates or a rise in incomes likely to send property prices up again.Would-be buyers risk being priced out of their own regional towns, as national property prices fall and investors hunt for bargains beyond Queensland 's coastal hotspots.
CoreLogic's latest data found Gold Coast property prices fell ever so slightly by 0.1 per cent in December, while Sunshine Coast prices went up by about the same. And while wealthier arrivals from southern capitals may continue pushing up prices, she said "that can't go on forever either". "Those are the kinds of markets which are more likely to see strong price growth in the next one to two years."Mackay agent Chrystle Campeao said there had already been a "surprising" jump in property values.
"It's very, very hard for local buyers at the moment; they definitely are getting priced out from investors from down south.""People are selling smaller homes down south that are worth more and able to have a better lifestyle up here.CoreLogic data released in October 2024 found the median price for a home in Mackay went up 16.5 per cent to $530,000. Townsville went up 25 per cent to just over $510,000.
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