Time to buy in Belgian Gardens with property prices falling the most in QLD

first_img More evidence buyer confidence is returning Ray White Principal Julie Mahoney said the falling price for units might be a result of the older style units sold over the period. READ MORE CBD units are the cheapest they’ve been in over a decade This three-bedroom unit at 110/167-173 Bundock St, in Belgian Gardens, is on the market for $219,000.PRICES for units in Belgian Gardens have dropped the most out of any other suburb in the state, falling 39.6 per cent over the year to April. Corelogic data shows the figure is a reprentation of the sale price for the 21 units sold over the period, with the median sale price for a unit in the suburb being $169,000. Houses in Charters Towers City was the second highest falling market in Queensland, with the median sale price dropping 33.7 per cent over the same period.The third highest falling suburb for property prices in Queensland was Rasmussen, another suburb of Townsville, with prices falling 31.3 per cent in the last 12 months. This three-bedroom unit at 110/167-173 Bundock St, in Belgian Gardens, is on the market for $219,000.“I believe the data indicates that an overwhelming majority of the units sold across that period were older style units,” Ms Mahoney said. More from news01:21Buyer demand explodes in Townsville’s 2019 flood-affected suburbs12 Sep 202001:21‘Giant surge’ in new home sales lifts Townsville property market10 Sep 2020“As such, age and the need for renovation had a significant impact on the sale price — a lot of these units were built circa 1970s and 1980s.“I believe the median value will increase as higher and newer built units come to market and sell.” Explore property agent, Giovanni Spinella, who has recently sold a house in the suburb said the drop in sale prices in Rasmussen could be a result of motivated sellers moving while the market is good to buy elsewhere. “I think Rasmussen is a location where a lot of people have lived for a long time, maybe about 20 years, and now they’re transitioning to other areas to downsize or relocate,” Mr Spinella said.“A lot of sellers in the area are seriouse and prepared to listen to their agents about where the market is at, and they are also aware that they’re buying in the same market. “Ultimately It’s a buyers market in Townsville and people are moving on to buy elsewhere while the market is good.” READ MORElast_img

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