Housing prices steady as CQ plummets inline with mining
THE Rockhampton region's real estate market has escaped relatively unscathed as house prices across Central Queensland plummet as the mining boom slows.
Although the Real Estate Institute of Queensland's September quarter median house price report released yesterday reveals Rockhampton region's median house price dropped by 0.5% to $318,250, while Gladstone copped an 8.5% drop to $400,000.
Emerald (down 1.7% to $400,000) and Moranbah also suffered falls, but Mackay's median house median house price had plateaued at $420,000.
The REIQ Rockhampton zone chair and principal of Professionals Rockhampton, Noel Livingston, said the region's market had performed well.
Mr Livingston said Rockhampton had managed to remain insulated from the ups and downs brought about by the mining sector, whereas the Gladstone and Mackay markets had experienced falling numbers of preliminary house sales this year.
REIQ CEO Anton Kardash said not that long ago the mining regions had been performing exceptionally, while the majority of the Queensland market remained stuck in the doldrums.
"So it's good to see that we all still get a turn at the good times at some point in time," he said.
But Mr Kardash and Mr Livingston agree 2014 is looking bright.
"I think we'll have very good price rises in the New Year," Mr Livingston said of the Rockhampton region.
While Mr Kardash believes more affordable house prices in Gladstone is likely to attract buyers back to the market in 2014.