Queensland’s Top Performing Suburbs 2008

The latest Real Estate Institute of Queensland (REIQ) figures show that when it came to house price growth in 2007 you couldn’t go past the Brookwater golf community. Median house prices in the Ipswich suburb increased 62.8 per cent to $590,000 in the 12 months to the end December.

"While Brookwater’s median over the year was affected by varying quality of stock sold – including new properties – the result reflects the desire of many people to live in a new suburb close to all facilities, and of course, the Greg Norman-designed golf course doesn’t hurt either," REIQ chairman Peter McGrath said.

Coming in at number two for houses was Calliope, 20km southwest of Gladstone, with its median up 56 per cent to $352,500. The suburb is benefitting from its seaside location as well its proximity to resource-rich regions.

Number three was Pioneer in Mt Isa – the top performer last quarter – with a median house price increase of 53.7 per cent to $315,000 in the 12 months to the end of December. Together with other mining suburbs in the Top 10, Pioneer continues to perform well due to the strength of Queensland’s resources sector.

When it comes to units and townhouses, six of the top 10 performing suburbs for last year were located in Noosa. While this can be partly attributed to the number of waterfront properties sold as well as new developments it just goes to show that you just can’t beat prime locations.

Top of the Noosa, and Queensland, performers was Peregian Beach – located south of the busier, pricier Noosa Heads – with its median unit and townhouse price increasing 98.7 per cent over the year to $377,500.

"While the number of new properties and waterfront properties sold helped Peregian Beach come out on top, it is benefiting from its coastal location and a median price substantially lower than the more famous Noosa Heads."

Number two for units and townhouses in Queensland was Milton, an inner city suburb of Brisbane. The suburb’s median increased by 90.4 per cent to $695,000 over the year due to a number of new properties and properties with water-views sold over the period.

And rounding out the top three for units and townhouses was Eagleby, previously in the Gold Coast, but now part of the Logan Shire. The suburb’s median is up 88.8 per cent to $260,500. With housing affordability continuing to decline, Eagleby is continuing to benefit from its extremely affordable price tag.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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