Best buyer’s market in Gympie region revealed
House hunters looking for a bargain in the Gympie region should turn their attention to the Cooloola Coast, with Cooloola Cove ranked as one of the 20 best markets for home buyers in Queensland.
A new report from Aussie Home Loans and online property hub CoreLogic has revealed the coastal town, nestled between Tin Can Bay and Rainbow Beach, had among the highest volume of stock on the market, at 13 per cent.
It ranked 14th among the 20 best Queensland buyers' markets, a list topped by Russell Island (19.3 per cent), Palmview (18.3 per cent) and Kooralbyn (18.1 per cent).
Cooloola Cove had 49 listings on the market in December 2020. This was less than half the number on the market in 2019 (102); a drop felt state-wide where stock levels across the board hit "at least 10 year lows".
Of these 20 markets Cooloola Cove had the eighth highest median home value, with the average property setting buyers back $353,311.
MORE GYMPIE NEWS
Inversely, Middlemount was the state's tightest market with only 0.9 per cent housing stock up for grabs.
The report identified Queensland was in the middle of a "great market squeeze' with buyers outnumbering sellers, leaving homeowners in the driver's seat.
It said this mismatch between supply and demand created an "urgency in the market" leading to homes in some suburbs selling swiftly and stripping buyers of negotiating power as a result.
"Some regions are recording exceptionally strong selling conditions, while others are well and truly reflecting a buyers market," the report said.