Gladstone region house prices rise 13.6 per cent
By REN LANZONrlanzon@gladstoneobserver.com.au
ROB Byrne and Petra Chapman's decision to buy a bigger home for their family helped lift Gladstone's sales way above those of other coastal cities.
Their purchase was among 206 house sales during the September quarter within the Gladstone local government area that showed the strongest growth in prices ? a whopping 13.6 per cent rise over the previous quarter, according to the REIQ's figures.
That meant little to Rob and Petra, and their five children, whose prime reason for the purchase was to have a bigger place to live in.
The family moved from a lowset home in Gretel Drive to a two-storey four-bedroom home in Barrine Close 10 days ago.
Rob and Petra say they are happy with their buy, and now they are planning to build a swimming pool in the back yard.
In the Calliope area, Keith and Janet Benson have bought three homes in the space of about 12 months.
More recently they moved to Drynan Drive but have kept the previous two homes as investments.
'I love Calliope ? it is a good place to live in and invest in,' Keith said.
Keith calculates his investments in the area so far total about $700,000.
Gladstone's growth in prices leads all the major coastal cities to its north. Rockhampton, on 8.7 per cent comes nearest, Mackay is next at 5 per cent, Townsville on 2.8 per cent and Cairns on 2.2 per cent.
REIQ research manager Fiona Bergin, however, has sounded a word of caution.
'As the the rest of the country slows down, it is unlikely regional Queensland towns will continue the dramatic price growth past 2005,' she said.
Calliope's overall results were less flattering, which may be attributed to several high-end sales at Tannum Sands during the previous quarter.