State of Origin: Qld wins the ‘Real Estate of Origin’
They may call us bogans but no matter who wins on the field tonight, Queensland is already the winner of the ‘Real Estate of Origin’.
In what can only be described as a massive middle finger to the cockroaches – many of whom are fleeing their home state for the sunshine state – Queensland has reigned supreme in the property stakes, outperforming New South Wales with a final score of 8 to 6.
Why everyone loves a Queenslander
Interest rate hits an all-time low: what does it mean for the Gold Coast market?
‘Active resizers’ flood unit market
Playing referee was LJ Hooker head of research Mathew Tiller, who crunched the numbers to determine which state reigned supreme in a number of key property indicators over the last 12 months.
“A season is a long time in footy, and a year is a long time in property,” Mr Tiller said.
“Lifestyle markets such as the Gold Coast really came to the fore over the last 12 months. “Surfers Paradise consistently has a high volume of unit sales each year, but we’ve also seen other suburbs on the Gold Coast including Currumbin Waters, Benowa and Clear Island Waters take out accolades in other categories.
“There’s been strong population growth in Queensland during the last 12 months, with the state welcoming its five millionth resident recently.
“Queensland’s population influx has played a part in the growth of the Gold Coast.”
The match highlights showed that Queensland owed much of its success to the Gold Coast’s unit market, which should arguably be a shoe-in for man of the match.
The surfers and tourist mecca scored bragging rights for the most apartments sold over the last year, with Surfers Paradise recording 1224 sales with a combined value of $623 million.
Currumbin Waters was the fastest selling unit market with apartments on the market for an average of just 18 days.
In NSW, Dee Why had the most amount of sales with 575.
In terms of price growth, Queensland took out both the unit and house categories, with units in East Toowoomba recording 35.7 per cent growth and houses in Spring Mountain posting a whopping 49.1 per cent growth.
Queensland also took out the units trophy for the highest yield, fastest selling and value sold.
In houses, canetoad country won the fastest selling and highest yield categories for houses.
Houses in Petrie sold in 13 days on average compared to the NSW fastest selling suburb of Kahibah, which clocked 19 days.
The resource-rich town of Blackwater had the highest yield with 14.4 per cent.
In the interest of fair play, Mr Tiller said the NSW town of Orange – which is closer to maroon than blue on the colour spectrum – had the most house sales over the last 12 months.
Similar to the Gold Coast, Mr Tiller said the Central West township’s popularity could also be attributed to buyers seeking a new lifestyle.
“There’s been a small amount of Sydneysiders opting for the tree-change over the last year, choosing to cash in on the capital growth they had enjoyed in previous years,” he said.
“Orange is one of the towns that has attracted people looking for a country lifestyle that still has many of the city-stylings like cafes, restaurants and shopping.”