Gladstone house prices decreaseprices onthe decline

By RENLANZONnewsroom@gladstoneobserver.com.au

NEW figures showing a decrease in median sales for homes in the first quarter of this year 'is no cause for panic', according to a Gladstone real estate agency.

'The decrease is small and I expect that the next quarter there would be a slight increase,' said Gladstone Elders real estate agency principal Colin Burke.

Just released Real Estate Institute of Queensland records show that, calculated on 131 sales, the median house price for the first three months was $202,500, down from $205,500 in the fourth quarter of last year ? a decrease of -1.22 per cent (see table).

Most sales were in West Glad-stone with 26 sales for the first quarter (-1.37 per cent), followed by New Auckland with 19 sales (3.69 per cent).

Gladstone Remax principal Jeff Williams said he was not surprised there had been a slight decrease in the median sale figures.

'In Gladstone the change is driven by the winding up of Comalco, but there is still lot of confidence in Gladstone's future,' he said.

Both men agreed the new figures were influenced by more interest in cheaper homes from first home buyers and investors.

'It probably means that less people are upgrading to dearer homes and there are more people buying a first or cheaper home,' Mr Williams said.

Figures for the Calliope shire will be reviewed in tomorrow's Observer.



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