While sugarcane fields define the Burdekin’s landscape, it’s the region’s property market in 2024 that quietly cultivated sweet success across Regional Queensland.
In 2024, Regional Queensland's property market showed notable growth, with property values increasing by 12.1 per cent over the year. This trend was particularly evident in key regional hubs. According to The Australian Financial Review, Rockhampton led the way with a 9.2 per cent quarterly growth in values, followed by Townsville (8.34 per cent), Gladstone (6.74 per cent), and Mackay (6.19 per cent).
Closer to home, the Burdekin region reflected this upward trend. Known for its rich agricultural heritage, the Burdekin saw steady growth in property values, driven by the ongoing demand for regional lifestyle blocks and family homes. Real Estate Investar reported that Ayr, the region’s main centre, experienced an 8.5 per cent annual rise in median house prices, with increasing interest from both local buyers and those relocating from southern cities. The affordability and strong sense of community in towns like Ayr and Home Hill continue to attract buyers looking for a laid-back lifestyle close to vital amenities.
The demand for property in Regional Queensland was fuelled by several factors. The Australian reported that interstate migration from pricier markets played a key role, as did the appeal of a more affordable and relaxed lifestyle. Moreover, the expansion of business operations into regional areas contributed to the surge.
However, not all parts of Queensland experienced the same momentum. For example, The Courier Mail noted a 20.7 per cent drop in building approvals on the Gold Coast, reflecting challenges in the construction sector despite a broader statewide recovery. This decline is a concerning trend, especially given the ongoing housing shortage in the area.
Overall, 2024 marked a significant year for Regional Queensland's property market, with the Burdekin region standing strong amidst the broader boom. Strong demand, limited supply, and economic shifts played key roles in shaping the market’s positive trajectory.
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