Kirkwood property values a head above the rest

KIRKWOOD is a suburb of contrasts when it comes to house prices.

It has Gladstone's highest median price but it also has experienced one of the region's sharpest declines.

You can expect to pay about $420,000 for a home in the suburb - $40,500 above the region's median of $379,500.

The figures are among Real Estate Institute of Queensland data published in the Queensland Market Monitor today.

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Kirkwood's price fell 17.8% in the previous 12 months - the second highest fall across the Gladstone council area.

The region's median house price rose 6.5% between January and March.

Boyne Island is Gladstone's next best performing suburb on $370,000.

Boyne's quarterly change was not available but it dropped 8.2% on the previous 12 months.

Tannum Sands was in the top five best performing suburbs with its median house price on $364,000, but it had the region's highest price fall of -18.2% over the first three months of the year. Over the 12 months it fell 9.4%.

The median value in Clinton rose 7.1% to $366,250 between January and March, but had an 11.3% drop on the previous 12 months.

West Gladstone's price dropped 7.4% in the March quarter to $275,500.

The fall was much smaller than the 12-month dive of 18.9%.

A total of 111 houses changed hands across the local government area from January to March.

Unit sales were slow with just 13 changing hands for a median price of $236,000.

The sales were not broken into suburbs.

REIQ Gladstone zone chairman Mark Spearing said Kirkwood had a lot to offer home-buyers.

"Kirkwood area is a new suburb and consequently there's a lot of modern homes, which are popular with buyers," Mr Spearing said.

"It's also serviced by fantastic roads and shopping centres that have really brought that suburb to life."

BY THE NUMBERS

  • 111 houses and 13 units changed hands in Gladstone from January 1 to March 31, 2015.
  • The median house price was $379,500.
  • The quarterly change was 6.5%.


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