Property price hike to rival the Brisbane market
THERE'S one part of the Southern Downs where property prices have grown faster than Brisbane.
Data released by the Real Estate Institute of Queensland shows the town's median house prices increased about 8.3 per cent in the past year.
The median price is up from $240,000 in 2016/17 to $260,000 in 2017/18.
This is much higher than the Brisbane-wide average of two per cent and rivals breakout pockets like the leafy Brisbane suburbs Bulimba (10.6 per cent) and Hendra (12.7 per cent).
Stanthorpe real estate agent Anne Lindsay said combination of lifestyle choices and value for money was motivating many recent sales.
"Anything within 2.5 hours drive from a major city will always be popular,” she said.
"A good cross- section of people are buying homes, there is always the retired people who want a lifestyle change and we are getting more younger families coming into the area because it is better suited to their finances.”
Many soon-to-be-retired investors are looking at Stanthorpe over the long term, buying homes now while the market is favourable before moving out from the city.
"Some will rent them and others will let them sit here and use them as a holiday escape,” Ms Lindsay said.
Neighbouring town Warwick, on the other hand, is best described as being lukewarm.
In the past year Warwick's prices only went up by two per cent, slightly ahead of inflation.