House sales and prices soar in region
FIGURES from Corelogic, considered to be the most comprehensive provider of property data in Australia, show significant increases throughout the property markets of Emerald and Blackwater.
These figures included a 500% increase in house sales in Blackwater between March 2018 and March 2019, with median house prices going from $75,000 to $140,000.
And for Emerald, it was almost a 100% increase in house sales in that same time period, going from 50 in March 2018 to just under 100 in March 2019.
The median sale price in Emerald bumped up from around $240,000 to just under $320,000 in that same period, a 25% increase.
Clinton Adams from Clinton Adams & CO Real Estate said there had been some positive thinking in the property market with developments in the mining sector recently.
"(There's) positivity in the market lately since the election with the coal seeming to be a long term resource for Queensland,” Mr Adams said.
"The positivity of the Crinum Gregory Mine moving forward and reopening is definitely an expectation of more people coming into Emerald.
"They're looking at the property market and there's still value there compared to many years ago, and they are taking the opportunity to secure their long term future of housing in Emerald.
"Overall I think the reason that these regions in the last 12 months have picked up is that there's more confidence in those areas like Blackwater.”
There has also been interest from developers and investors in Brisbane, seeking property market opportunities in Emerald.
"Brisbane people have been asking about the market here,” Mr Adams said.
"People that I've dealt with over the last 30 years are ringing up for any opportunity in Emerald.
"They're saying we're listening to the radio and the television that Adani has now approved, it's looking good up there and are asking are there opportunities.
"A lot of the developers you deal with over the years are saying 'we'll come back and develop that land we've held on to'.
"If you look at these indicators and you're looking to buy a house, the next 6-12 months might be a good opportunity to do that.”
Twelve months ago, when median prices in Emerald were down by $80,000 and the houses sold rate was almost 100% lower than now, brave investors took the plunge in the housing market and are now reaping the reward.
"There's a lot of people a year ago that have benefited from taking that dive into the market last year,” Mr Adams said.
For a full report on your suburb's property market, head to Corelogic's website and search for the Suburb Profile Report section.