April 7, 2015
Recent drops in property values – as recorded by Queensland’s Valuer-General – do have an upside … the Wide Bay-Burnett region is now considered a very attractive region in Australia for property buyers.
The latest Commonwealth Bank/CoreLogic RP Data Home Buyer’s Index, released in January, lists the Wide Bay-Burnett region as just behind the Mersey-Lyell region in Tasmania as offering favourable conditions for buyers.
Next on the list are South West Queensland, Mackay and the West Moreton district of Queensland.
In August last year, the Wide Bay-Burnett actually topped the list, followed by Southern Tasmania and the Pilbara in Western Australia.
The Commonwealth Bank/CoreLogic RP Data Home Buyer’s Index is based on the number of properties listed for sale compared with the number of loans the Commonwealth Bank has signed in the same period.
The Wide-Bay Burnett region includes the Fraser Coast, Gympie, South Burnett, North Burnett and Bundaberg.
Property prices are often linked by analysts to economic activity.
According to independent real estate analysts, Property Observer, Gross Regional Product (GRP) contracted 7.4 per cent across the Wide Bay-Burnett region between 2012-13 and 2013-14.
Footnote: In another potential boost for housing sales, the Reserve Bank today decided to keep the cash interest rate steady at 2.25 per cent for the third month running.
- Related article: Region’s Property Values Dip
