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Blues take out Real Estate of Origin

Blues take out Real Estate of Origin

By Ryan Ellem on Jun 05 2018

New South Wales has claimed victory even before tomorrow’s first whistle, beating the Maroons in the Real Estate of Origin.

NSW outperformed Queensland in key property indicators over the last 12 months, according to the annual analysis conducted by LJ Hooker.

Cradled by Rushcutters Bay and Double Bay, exclusive Darling Point proved the priciest address either side of the Tweed River, posting a median house price of $4,376,250 – almost three times the value of the sought-after Brisbane enclave of Teneriffe ($1,501,250).

But showing its versatility, NSW also took out the honours at the other end of the market. A nine-hour drive north via the New England Highway, Collarenebri is a far cry from the hedges and Harbour views of Darling Point, but it still made it on to the scorer’s sheet as the ‘most affordable’ region with a median property price of $49,500. Queensland’s most affordable property suburb was Dolphin Heads near Mackay ($51,500).

LJ Hooker Head of Research Mathew Tiller said whilst the Sydney market had softened over the last 12 months, the state still comfortably held bragging rights over Queensland.

Sydney’s house market has contracted in the last year while Brisbane’s recorded subdued growth (0.9 per cent growth). But across the majority of property indicators, including prestige, affordable property and rents, NSW comes out on top.

“The Blues are the punters’ favourite for Game One on the back of (Cameron) Smith’s, (Johnathan) Thurston’s and (Cooper) Cronk’s retirement, and the late withdrawal of Billy Slater,” said Mr Tiller.

“But the form guide of the two property markets puts it beyond doubt.

“The most telling display of Sydney’s strength is analysis of the best five-year return for property owners, with Bella Vista in the Hills district recording capital growth of 168.4 per cent. Mount Lofty in Toowoomba’s dress circle was Queensland’s best performer (74.3 per cent), but paled in comparison to Bella Vista.”

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