'Flex muscles': Gladstone suburb drops $120K

BUYERS are scooping unprecedented deals by "flexing their muscles at the negotiating table", according to the latest report from the Real Estate Institute of Queensland.

The Gladstone region's median house price has dropped 6.7%, with buyers scoring the most significant discounts on homes at Glen Eden, Agnes Water and West Gladstone.

>>Gladstone's 10 cheapest properties on the market

Five investors and first-home buyers who bought into Glen Eden paid 22.8% less than one year ago for the average house, with the price dropping to $335,000.

It's a 26.8% drop on what buyers were paying six years ago, $449,000.

>>Market opens as Gladstone sellers drop prices to force sale

Brett Wortman

Agnes Water had the second largest drop at 17.9%, with the average house selling for $302,000.

West Gladstone came in next, with a 16.5% drop in a year to just $250,000.

It's the cheapest area in the Gladstone region after a 32.4% drop in six years from $370,000.

Interestingly, buyers have not shied away from areas with the smallest price drop, with Clinton, which had just a 1.2% drop in median house price to $340,000, rating as the most popular suburb for buyers.

Tannum Sands, the region's second most popular area for buyers, has dropped just 1.2% in the past year to $420,000.

But both of these areas previously felt significant price-drops other areas avoided, with Clinton falling 16.2% in a six-year period and Tannum 9.2%.

While the average period for a house to sell has risen from 70 to 79 days on the market, houses are still moving quicker than at Mackay and the Fraser Coast, according to the REIQ report.

Topics:  gladstone, gladstone region, property

'Biggest meteor in years' crashes near Gladstone

FIREBALL: The Orionid meteor shower will provide a light show later this month. Photo: contributed

“This sounds like a big one, first in several years."

Did Gladstone meteor cause Queensland earthquake?

EARTHQUAKE in Queensland may have been caused by Gladstone meteor.

WATCH: Burning object crashes near Gladstone, lights up sky

A meteorite may have been spotted crashing to earth this evening.

SPECULATION rife that a meteorite is soaring across Gladstone's sky.

Local Partners

Kate goes down fighting in heated Survivor elimination

Australian Survivor contestant Kate Campbell.

YOGA teacher's 'good guys' alliance fails to get off the ground.

Emily Blunt's (almost) singing career

Emily Blunt nearly became the British Britney Spears.

Angelina is blocking calls from Brad Pritt

Angelina Jolie has reportedly blocked Brad Pitt's number.

Apocalyptica 'seek and destroy' sceptics with 'master' set

Apocalyptica play Max Watts in Brisbane on their Shadowmaker Tour.

Review of final show of Apocalyptica's tour

Rebecca Hall doesn't own a TV

Newspapers, yes. Television, not so much

Jaime King 'terrified' by son's heart surgery

Jamie King was "terrified" when her son went in for heart surgery.

'Flex muscles': Gladstone suburb drops $120K

BUYERS are scooping unprecedented deals by “flexing their muscles at the table”

Few bright lights for property after mining downturn

The Gladstone Regional Council wants associated LNG companies like Bechtel to be apart of the EIS housing accommodation strategy from the outset of the projects and not mid-way through.

Tannum Sands continues to write its own property success story

Property 200m from ocean selling for just over $100K

BEACHCOMBER PARK: Work has started on a new $19.2 million development at Toogoom.

The estate's developer is offering huge discounts for early buyers.

UPDATE: Former rodeo champ's sale rained out, now back on

Larkhill local Ken Consiglio is having an auction of most of the things on his property.

'People kept showing up and we had to turn them away'

Market opens as Gladstone sellers drop prices to force sale

VENDORS are dropping the price on houses to force a sale.

First stages of $25 million housing development underway

New development on Madsen Rd - The Springs.

The blocks of land are much bigger than usual