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Livingstone steady as Central Queensland towns plummet

FIVE years ago the Livingstone Shire's median house price was lower than Emerald, Gladstone, Mackay, Moranbah - in fact most mining towns across the region.

Today the Capricorn Coast's median price of $372,000 for the 12 months to June places it well above all of those cities and towns (see REIQ graphic).

While Mackay's median house price has plunged 17% since 2011, Emerald 38.7% and Gladstone 15.5%, Livingstone has been rock solid in challenging economic circumstances with just a .08% decline over the same period.

Five recent sales on the Capricorn Coast, read story here

The mining town of Moranbah has suffered some of the most severe house price falls with a drop of 65% in five years from $481,000 to $167,500.

June quarter sales market - houses.Photo Contributed
June quarter sales market - houses.Photo Contributed REIQ

Livingstone's median sale price of $370,000 for the June quarter (63 sales) was steady from its March and one of the best results across regional Queensland with Townsville the surprise packet with a 2.5% rise.

Professionals Principal and REIQ zone chairman Noel Livingston attributed Livingstone's performance in challenging market conditions to a number of factors.

"We have had a very tough market here for some time now it all comes back in the main to the job market and loss of jobs through the mining and industrial sectors," he said.

"We have shown a bit more resilience both in Rockhampton and Yeppoon because we also are reliant on other things such as the rural economy.

"The intermittent injection into economy of our Army base at Shoalwater Bay helps us a lot, but that Rural economy is a big factor for us and it's starting to strengthen really well at the moment and it's sort of held us up there a little bit whilst others have fallen behind, because they were totally reliant on mining."

60-70% sales growth for Yeppoon real estate, see story here

Mr Livingston said he believes house prices in primarily mining towns had plummeted as they had "their eggs in one basket".

"They all got caught up in the hype that this was going to go on forever, real estate prices went through the roof because the employment was so strong in the mining sector and the wages were so high rents went through the roof and there had to be a day of reckoning," he said.

"I have seen over my 30 years in real estate various ups and downs and people don't see that often when you go through a period where your market is flowing, they just assume that it will continue for ever but it never does."

Looking forward, Mr Livingston said he sees confidence regaining in the property market post Federal election, and believes this will continue as infrastructure projects are delivered.

"We have had no major infrastructure projects here for some time now and the recent promises throughout the Federal campaign, and the results that followed, have brought a bit of confidence back into the marketplace which we have certainly noticed post election."

Topics:  livingstone real estate, rockhampton property, yeppoon property



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