Property prices in Queensland02 December 2015 by News Desk
House prices in Queensland are some of the most affordable in Australia.
Would-be home owners can find a bargain, compared to prices in other states, across a range of Queensland suburbs that have seen major falls in prices in the last 12 months.
Suburbs such as Gladstone, Emerald, Moranbah and the towns of the Surat Basin have been hit hard by the downturn in mining across Queensland. Property prices have fallen and the number of house sales has dropped.
Mount Isa is one of Australia’s largest mining towns and a major regional centre in western Queensland. But its property market has suffered with quarterly home sales falling from 189 to just 25 this year.
The suburb of Sunset is typical, with the number of home sales falling from 30 to just 6. In Pioneer, sales have dropped from 20 to just 2. In the suburb of Menzies just four home sales have been has recorded in the past 18 months.
Average prices in Mornington have fallen by 23% and in Townview by 18% in the past 12 months.
Darrell Todd of thinkingaustralia says: “House prices in Queensland will continue to fall, providing a good opportunity for home-buyers seeking affordable property.”