Charleville scores top ranking in post-COVID housing boom

An REA Group survey of housing prices in the post-COVID real estate boom showed the western Queensland town outperformed the state's usual high-end suburbs with an affordable median price on March 1, 2022, of $152,000, or an increase of 82 per cent since April 1, 2020.

Charleville ranked fourth on the median price list behind Miami at the Gold Coast ($1.480 million/93 per cent change), and Sunshine Coast suburbs Sunrise Beach ($1.650 million/89pc change) and Sunshine Beach $3.345 million/86pc change).

Murweh Shire Council Mayor Shaun 'Zoro' Radnedge said the result was fantastic news and confirmed council's regionalisation-focused investment strategy was working to attract investors.

"Given the price difference between us and the other three suburbs, it shows there is no better place to invest when it comes to affordability," he said.

Cr Radnedge said the first element of their investment strategy had been to get videos done, showcasing the liveability of the region, and the opportunities available.

"It was like we were standing at the bottom of Mt Everest looking up at the start," he said. "We then brought in a social media campaign, but this has tipped it all on its head."

He agreed that housing prices in the town had in many cases started from a low base but said a lot of top-end houses had also sold, which had contributed to the final result.

"You won't get people to invest unless you've got something for them to invest in," he said.

At the start of the COVID pandemic, Charleville had 50 to 60 houses for sale, some of them vacant.

Cr Radnedge said young people had been coming to the region to secure a better lifestyle in smaller, supportive communities.

"We had one couple in their 30s sell their home in Wollongong to buy a house here," he said. "Instead of being lumped with a 30-year home loan, they now have $300,000 in the bank."

ALSO MAKING NEWS:

Ray White Rural real estate spokeswoman April Radnedge said everyone contacting them had been doing so for COVID-related reasons.

"I'd say around 70pc of people bought without walking through the houses - they just saw photos or had a video inspection," she said.

"There was a mix of everyone - a lot were working, some were looking for work, and some were retired.

"Some houses we had been trying to sell for a while, but between October and November last year, all classes of dwellings were only on the market for between a week and a month."

Ms Radnedge said most sales were to owner-occupiers, which was putting pressure on the rental market in Charleville.

The council has now changed tack and moved into the investment phase of its strategy, and is releasing 11 blocks of land for tender in the $10,000 to $30,000 range.

It hopes to secure three executive housing developments under a flexible 15-year payment arrangement.

"We got the blocks through rate arrears so doing this means we get rates coming in for the land, and it encourages people to build," Cr Radnedge said.

Council was aware that the Western Meat Exporters expansion meant housing was required.

Cr Radnedge said he thought their success was partly because they were in the forefront of people's minds, and because the Western Queensland Alliance of Councils was showing how it was better to invest in regional areas.

"I think the opportunity is there for all councils, and I think this hones in on the postcode discrimination that's there for people trying to get a loan to buy a house," he said. "We need banks to come to the party now."

RELATED: Bank home lending to rural postcodes questioned

Want daily news highlights delivered to your inbox? Sign up to the Queensland Country Life newsletter below.