Queensland home buyers flee Brisbane for regional property hotspots amid rate hikes

Latest quarterly sales data has revealed the top house and unit markets Cash-strapped Queenslanders are ditching Brisbane’s established suburbs for regional mining, agricultural, and manufacturing towns to secure a family home for well under the state’s median price. The exodus comes as the Reserve Bank’s four rate hikes this year pushed the cash rate to 4.6 per cent, smashing borrowing power and forcing buyers to look further out. New third-quarter data from PropTech firm InfoTrack reveals a shift away from the capital, with regional hubs ranked among Queensland’s top 10 suburbs for house sales. Kirwan in Townsville ranked third overall, Maryborough placed fifth, Gracemere seventh, and Emerald eighth. A house in Kirwan, Townsville sold for $835,000 InfoTrack chief operating officer Lee Bailie said the results reflected dwindling affordability, with rising living costs eating into household budgets. “Regional Queensland is becoming a much more compelling alternative for buyers under financial pressure,” Mr Bailie said. He noted median house prices in the regional hotspots on the list sat well below the statewide average of $890,000, ranging from $565,000 in Maryborough to $720,000 ...