Gracemere, located 12km from Rockhampton, has topped the list of best performing suburbs in Queensland, according to a PRDnationwide research report.
The report, which researched the 20 best and worst performing suburbs in Queensland in the year up to June 2011, showed Gracemere sales have increased 63%, with prices up 3%.
PRDnationwide research director Aaron Maskrey said that most of the best performing suburbs were in mining areas.
“These regions have attracted new residents [who] require accommodation in a market that has a distinct undersupply,” he said. ” “The growth of these markets is a direct result of strong investment and the availability of high paid employment within these areas.”
Among Gracemere, mining suburbs that saw increased activity included Calliope and Dysart, which saw 24 or more additional sales, while coastal towns such as Tannum Sands also saw increased activity as a result of being close to mines.
On the reserve side of the scale, Maskrey said that 17 of the 20 worst performing suburbs were in South East Queensland. This was a result of tradesmen leaving the Gold Coast area in the wake of a winding down in the construction industry over 2010.
“Despite interest rates remaining on hold since November 2010, it appears that confidence was sapped in the South East Queensland property market, as the majority of the top 20 suburbs to have experienced the largest decline in activity are located within this region,” he said.
The Gap, in Brisbane’s west, showed the largest decline in house sales, down 57%.
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