Boomin' Brilliant
Article: South Burnett Times, Friday 11th September 2009
South Burnett among Queensland's best property performers. We're still... Boomin' Brilliant.
The South Burnett has cemented its reputation as a boom area after being named one of the best performing house markets in Queensland.
Real Estate Institute of Queensland (REIQ) figures show home prices in Kingaroy raised by a staggering 18.7 per cent last financial year with the median house price jumping from $353,750 to $420,000.
Nanango and Murgon followed suit achieving 11.6 and 14.5 per cent increases with median house prices sitting at $177,500 and $212,000.
Acreage homes across the region posted the third highest growth in the State with prices increasing by an average 10 per cent.
The figure came as no surprise to new Nanango residents Kal and Mary-Anne Zahnow who bought their dream home in June.
After Mrs Zahnow got a teaching transfer from Charters Towers to Nanango in January the couple decided to settle down and invest in the region.
The couple was eager to take advantage of the full $21,000 first home owner's grant before it was slashed later this month.
They took an immediate shine to the South Burnett and studied the market for five months before purchasing their home.
"People from the city call it a tree change," Mr Zahnow said. "There's great scenery and when you say g'day here people say g'day back. "It's a laid back and relaxing country area but your still only a stone's throw away from the city and coast if you want to head off."
Freeman's Real Estate head salesman Chris Arnold expects the boom to continue this financial year and is predicting higher increases to be shown in the next round of statistics.
"We've put 17 residential homes and three commerical properties under contract in the past week" he said.
We've sold more land in the past two months than we have in the last 12 months."
Mr Arnold said the mining industry continues to draw investors to the region but new developments in Kingaroy such us ALDI, Harvey Norman, Target and Supa IGA has boosted buyer confidence.
"We've seen a return of interstate investors and first home buyers taking advantage of government grants has contributed to the increase," he said.
He said the boom in infrastructure and the regions's close proximity to Brisbane, Sunshine Coast and Toowoomba continued to attract people to the area.
"We've got a 93 per cent occupancy rate for rentals," Mr Arnold said.
"There continues to be a strong demand for nice homes."