This palatial residence in Hamiton is on the market
ALMOST 70 Queensland suburbs have recorded double digital capital growth over the past year, including several resource towns hit hard by the mining downturn.
The Real Estate Institute of Queensland (REIQ) has revealed that 68 suburbs across the state recorded capital growth between 10 per cent and over 150 per cent in the 12 months to June this year, with Blackwater in central Queensland recording the biggest jump.
Median house prices rose 151.3 per cent to $94,250 in June, albeit from a low base.
But the latest market report by CoreLogic offers even more green shoots of hope, with the median house sales price now up to $105,000 in the resources town.
Collinsville, southwest of Bowen, has also recorded solid growth, with median house prices up 46.2 per cent to $95,000 over the same period, while Miles in the Western Downs recorded capital growth of 23.5 per cent to $148,250.
REIQ CEO Antonia Mercorella said improved confidence in the coal mining sector was one of the key factors driving the recovery of the property sector in Blackwater and other mining towns.
REIQ CEO Antonia Mercorella
“The top area delivering the strongest growth has been Blackwater, with 151 per cent growth. This is a result of the resurgence in coal prices and the low base starting point,” Ms Mercorella said.
Eleven suburbs reached an annual price growth of more than 20 per cent. These suburbs were Blackwater, Spring Mountain (Ipswich), Collinsville, Minyama (Sunshine Coast), Hamilton, Hollywell (Gold Coast), Miles, Mount Coolum, Dundowran Beach (Fraser Coast), Boonah (Scenic Rim) and Idalia (Townsville).
“This spread of suburbs is a good indication that Queensland real estate is delivering steady sustainable growth across the board. We’re seeing growth outside the southeast corner,” Ms Mercorella said.
But Ms Mercorella cautioned against celebrating another ‘boom’.
“While we’re definitely seeing prices come back in western Queensland mining towns, such as Blackwater, these prices are still below their peak. It’s unlikely we’ll see a return to pre-2013 prices in those areas anytime soon,” she said.
Fifteen suburbs on the Sunshine Coast, four on the Gold Coast, six in Ipswich and three suburbs in Moreton Bay also recorded double digit growth, according to the report.
A total of 13 suburbs in Brisbane LGA made the list of top performers for the past year. Hamilton was the fifth strongest performer in Queensland and the best performer in Brisbane LGA.
House prices in Hamilton increased 32.9 per cent for the past year, to $1.442, million. Other Brisbane suburbs included in the list were Sandgate, Paddington, Mount Ommaney, Sunnybank, Graceville, Hendra, Shorncliffe, Seven Hills, Nundah, Kedron, Bulimba and Auchenflower.
Ipswich had six suburbs on the list, the Gold Coast had four and Moreton Bay had three.
Ms Mercorella said the southeast dominated the list of top performers, making up about 60 per cent of the 68 double digit performance suburbs.
TOP 10 PERFORMING SUBURBS IN SOUTHEAST QLD/RANKING/1 YEAR CAPITAL GROWTH
(House market <2,400sqm – annual data to June 2018)
Suburb Ranking 1 Yr Capital Growth
Spring Mountain (Ipswich) 2 103.6%
Minyama (Sunshine Coast) 4 45.8%
Hamilton (Brisbane) 5 32.9%
Hollywell (Gold Coast) 6 30.5%
Mount Coolum (Sunshine Coast) 8 21.9%
Boonah (Scenic Rim) 10 21.3%
Yaroomba (Sunshine Coast) 13 19.7%
Tivoli (ipswich) 16 18%
Cashmere (Moreton Bay) 17 18%
Walloon (Ipswich) 18 16.7%
Sunshine Beach (Noosa) 19 16.7%
Noosa Heads (Noosa) 20 16%
Hope Island (Gold Coast) 21 15.7%
Ripley (Ipswich) 22 15.4%
Sandgate (Brisbane) 23 15.2%
Paddington (Brisbane) 25 14.7%
Pelican Waters (Sunshine Coast) 28 13.9%
Mount Ommaney (Brisbane) 30 13.7%
Sunnybank (Brisbane) 34 13.3%
Graceville (Brisbane) 37 13%
Hendra (Brisbane) 38 12.7%
Shorncliffe (Brisbane) 39 12.4%
Coes Creek (Sunshine Coast) 41 12%
Cooloola Cove (Sunshine Coast) 42 12%
Battery Hill (Sunshine Coast) 43 12%
Seven Hills (Brisbane) 44 11.9%
Nundah (Brisbane) 45 11.9%
Monkland (Gympie) 46 11.6%
Bongaree (Moreton Bay) 47 11.6%
Maroochydore (Sunshine Coast) 49 11.2%
Twin Waters (Sunshine Coast) 50 11.2%
Tewantin (Noosa) 52 11.2%
Coolum Beach (Sunshine Coast) 53 11.2%
Kedron (Brisbane) 54 11.1%
Sunrise Beach (Noosa) 55 11%
D’aguilar (Moreton Bay) 57 10.9%
Mountain Creek (sunshine Coast) 58 10.9%
Flinders View (Ipswich) 59 10.9%
Highland Park (Gold Coast) 60 10.7%
Rosewood (Ipswich) 61 10.7%
Bulimba (Brisbane) 62 10.6%
Auchenflower (Brisbane) 66 10%
Rainbow Beach (Gympie) 67 10%
Ormeau Hills (Gold Coast) 68 10%
(Source: REIQ QMM June 2018)
In Hamilton, Janelle and Dale Woodhall are downsizing and have put their palatial Hamilton mansion at 50 Hillside Crescent on the market.
Janelle and Dale Woodhall are selling their palatial mansion at Hamilton.
Architecturally-designed, the stunning residence is named Haeremai, spans four levels, is packed full of luxury features and has river and city views.
“We bought here in 1993, moved in 1994. The original house was Mediterranean-style and about 11 years ago we knocked it down and designed this with architect Bevan Lynch (ML Designs),” Mrs Woodhall said.
“We have always felt that this one of the best areas in Brisbane. Even in just the past two years we have seen lots of new builds and big money coming in.”
50 Hillside Crescent at Hamilton is on the market
Their house is listed for sale with Vaughan Keenan of Grace & Keenan at Newstead.
Mr Keenan said he was not surprised by Hamilton’s strong performance, noting a marked increase in interstate buyers from Sydney and Melbourne at open homes.
“And I have seen a lot of people from Adelaide and Auckland (New Zealand),” he said. “There is also a lot of local interest, with proximity to private schools is a major factor.”