There are the Queensland suburbs where median house prices have fallen since the pandemic began, with one ‘hidden gem’ boasting both affordable homes and million-dollar mansions.
REA Group analysts compared median house values in October 2019, before the Covid-19 pandemic was declared by the World Health Organisation, to median house prices in October 2021.
They found 15 suburbs across Queensland where values had fallen over that two year period but even some of those same suburbs are seeing some eye-watering prices for local prestige houses – perhaps proof that the secret is already out.
Top of the list was Willow Vale, a rural locality near Upper Coomera on the Gold Coast.
The data shows house values were $64,500 less in October 2021 when compared to what they were back in October 2019, when the median sales price was $729,500.
It was followed by St George, where median values have dipped $62,500 over the same period.
Rounding out the top five was Gooburrum (Wide Bay), Cannon Valley (Mackay-Isaac-Whitsunday) and Glenwood (Wide Bay).
The Brisbane median house price is now $820,000, while the Greater Brisbane median house price reached $610,000 in November, according to the REA Market Trends report.