News

Housing industry sees modest increase in new home sales

By Andrew Allen

By Kara Irving, Gladstone Observer 29/11/2012

AFFORDABLE housing is in hot demand across the Gladstone region, with properties being snapped up in West Gladstone, Kin Kora and Agnes Water.

The REIQ September Quarter Median House Price Report has found house sales under $350,000 across the state have increased by 24%.

This comes as 20 properties were sold in West Gladstone alone in the September quarter.

Clinton and New Auckland were considered the next most popular suburbs to buy a house in Gladstone with 19 and 18 houses sold respectively.

Ray White Real Estate director Andrew Allen said that although affordable properties were classified under $500,000, people were still keen to buy a house.

“There was a very strong trade in the Kin Kora and West Gladstone area last quarter,” Mr Allen said.

“Obviously location is a priority for some buyers and those areas are located close to shops and schools.”

The REIQ report also found that a number of suburbs saw a decrease in the median sale price for the September quarter, including Boyne Island, Kin Kora, South Gladstone and New Auckland.

In the past 12 months the Gladstone region has seen an overall increase in the median sale price by 13%.

South Gladstone has witnessed the largest increase in the median sale price of properties, rising 15% to $410,000.

Mr Allen said Gladstone’s property market was at times contradictory.

REIQ CEO Anton Kardash said lower interest rates and growing confidence led to sales activity across the state.

Mr Allen agreed that lower interest rates influenced Gladstone home buyers.

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