SOLD: 6 Campion St, Mount Morgan, sold this month for $65,000.
SOLD: 6 Campion St, Mount Morgan, sold this month for $65,000. Real Estate

REAL ESTATE: Is this CQ's cheapest suburb to buy a house?

COULD Mount Morgan be CQ's cheapest suburb?

Two homes have been sold with a very cheap price tag this month.

Real estate data has revealed a two-bedroom, two-bathroom home at 6 Campion St sold for $65,000.

24 Central St, a two-bedroom, one-bathroom home, sold for $60,000.

The low price sales was a follow-up on last year when 27 West St, a two-bedrooms, one-bathroom home was sold for $40,000.

A commercial shopfront, 111 East St, sold for $18,000.

 

The medium property sale price in Mount Morgan is about $90,000 to $100,000.

 

Angela Douglas.
Angela Douglas. DISCOVER REAL ESTATE

She confidently says Mount Morgan is the Rockhampton region's cheapest suburb to buy properties.

Ms Douglas says part of the cheap price is because of the commute to Rockhampton for work.

The cheap prices are also very attractive to investors.

 

"I have investment properties selling for $140,000 and they are renting for $250 a week, so it is a massive return on investment properties ... 15-16 per cent," she said.

Most of the homes in Mount Morgan are miners' cottages built between 1900-1950.

"A lot of older homes .. lot of historic buildings, houses that have a lot of the original features," MsDouglas said.

Ms Douglas has sold 30 homes in the seven months of the financial year so far.

This has already exceeded the entirety of the last financial year.

Ms Douglas can't pinpoint what has caused the spike but either way she is pleased to see more interest in the Mount.

"The prices are good, it is a great place for people who are first getting on the investment property ladder, older people who are looking to downsize and own their own house, first homebuyers who can get a deposit in a way that is achievable," she said.

"You get more bang for the buck."

 

A number of the buyers lately have been coming from down south, relocating and moving into their new homes.

What is drawing them to move to Mount Morgan is the price, "plain and simple".

The real estate agent is also a proud resident of the old gold mining town and says it is a great place to live.

"It is a lovely little country town, all of the infrastructure is in place - town water, power, sewerage, high speed internet, hospital, doctors, shops, primary and secondary schools," she said.

"Any other place that is in the same price bracket doesn't have the same infrastructure or facilities."

As for the rest of the financial year, MsDouglas expects more cheap sales.

"I think we're set to continue on the same path," she said.

 

MOUNT MORGAN RECENT SALES:

6 Campion St: $65,000 (Jan 17, 2019)

24 Central St: $60,000 (Jan 17, 2019)

27 West St: $40,000 (Nov 22, 2018)

111 East St: $18, 000 (November 20, 2018)

FOR SALE:

5A Glen Gordon St: $59,000

8 Neil St: $69,000

118 East St: $79,900

15 Limerick Ln: $83,000



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