Regional Queensland: A profitable investment
Australians looking for a high-return property investment may be interested in residential real estate in remote areas of Queensland, with the region experiencing record growth.
According to figures from the Real Estate Institute of Queensland (REIQ), the median house price in Cloncurry surged 35 per cent in the past 12 months - a profitable growth figure for real estate owners in the area.
REIQ chief executive officer Anton Kardash said the growth is being fuelled by the state's resources sector.
"The mining areas of Queensland appear to have come off the boil a little, perhaps due to sharp property price increases over the past 12 months in Gladstone and Mackay in particular, however sales in these regions remain strong," Mr Kardash explained.
Mackay was the top-performing region in the state, with the north-east city recording a 4.7 per cent increase in house prices to $445,000 during the September quarter.
Redland City, Logan City and Toowoomba all experienced a rise in house prices above two per cent during the three-month period.
Over the last five years, Gladstone house prices have increased 40.1 per cent to a medium of $455,000.
The next highest growth area was Brisbane city, which recorded a 17.5 per cent increase during the same period.