Banksia Beach recorded solid price growth within the greater Brisbane area.COASTAL is king when it comes to Queensland’s property market with new figures revealing both the Gold Coast and Sunshine Coast have outperformed Brisbane.The areas finished 2017 with the strongest growth in the state, according to the Real Estate Institute of Queensland Market Monitor.As results for the end of 2017 have now flowed through the report revealed the Gold Coast was the big winner with a rise in its median house price of 7.7 per cent for the year to $615,000.On the Sunshine Coast during the same period the median house price increased by 6.4 per cent to be $569,000.The Brisbane local government area median house price grew only 2.6 per cent during the same period to reach $665,000.REIQ CEO Antonia Mercorella said the Gold Coast had benefited from a strong local economy which was a direct result of the infrastructure spending ahead of the Commonwealth Games.More from newsNew apartments released at idyllic retirement community Samford Grove Presented by Parks and wildlife the new lust-haves post coronavirus20 hours ago“Upward pressure on prices has seen some suburbs demonstrate explosive median house and median unit price growth,’’ she said.In Mermaid Beach prices increased by 8.9 per cent during the year to $1.56 million. Unit prices increased even more substantially – up 14.3 per cent to $720,000.Ms Mercorella said while the overall figure for Brisbane was not high, various suburbs within the greater Brisbane area had still performed stronglyBanksia Beach within the Moreton Bay local government area, recorded the most significant increase in median vacant land sale prices, up a whopping 72.2 per cent to a still relatively low $427,500. Woodend in the Ipswich local government area recorded a median house price increase of 20.4 per cent to $261,000.In the regions the Toowoomba market slowed a little during the year with its median house price up just 1.4 per cent to $355,000 and its unit market down 1.3 per cent to end the year on $305,000.The Fraser Coast market recorded a median house price increase of 2.6 per cent to $316,000, Bundaberg was up 2.2 per cent to $285,000 and Gladstone dropped 13.9 per cent to $280,000.Rockhampton’s median house price dropped 1.9 per cent to $265,000 and Mackay was starting to stabilise with price growth steady to $325,000.The Townsville median house price dropped 2.5 per cent to $328,000.
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