Region's house prices to rise

Hotondo Homes salesman Ben Markwell with Lee and Kylie McCluskey, who beat the price rise by building their new home at Taranganba at the end of last year.

Nikita Watts

HOUSE prices will rise by at least 6% by the end of this year, according to builder Scott Kilpatrick.

But Yeppoon couple Lee and Kylie McCluskey can breathe a sigh of relief after building their new family home at the end of last year.

Mr Kilpatrick, the director of Rockhampton’s Affordable Quality Homes, yesterday said the cost of materials and new legislation from the State Government would increase the cost of building a new home this year.

“We have not had a price increase since April last year as we have been absorbing the cost increases, but we don’t feel we can do that much longer,” he said.

He said the majority of the costs would adhere to new and proposed legislation, such as a six-star rating on energy, and environmental reasons.

“They (the government) may be requiring us to go to steel frames, which will put the price up by $15,000,” he said.

Neville Berry of Hotondo Homes Yeppoon backed this prediction, saying house prices would rise as the economy recovered.

“With vacant land and house prices increasing, now is a good time to build before prices continue to rise,” he said.

Lee said he was glad they built at the right time.

“We are laughing...we got what we wanted for just over $400,000,” he said.

HOUSE PRICES

Cap Coast median sale prices for December 2009, and 2010 capital growth:

YEPPOON:

$338,000

2.9%

TARANGANBA:

$471,000

-5.9%

MULAMBIN:

$350,000

N/A

COOEE BAY:

$435,000

14.6%

PACIFIC HEIGHTS:

$714,000

27%

EMU PARK:

$345,000

35.4%

Source: RP Data

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