HOUSE prices are rising across Jimboomba as first-time buyers snap up house-and-land packages.
Real Estate Institute Queensland chief executive Antonia Mercorella said median house prices in Jimboomba had risen 6.6 per cent to $446,000 throughout the past 12 months to September.
Ms Mercorella attributed the rise to a spike of interest from buyers, who were likely entering the property market for the first time.
“This is exceptional growth and is likely triggered by a rise in first home buyers accessing finance and seeking good-value property buys in the house-and-land packages that are available in these areas,” she said.
Ms Mercorella said she expected the strong demand for homes in the Jimboomba area would continue this year.
Greater Flagstone, Yarrabilba and Park Ridge will help accommodate Logan City’s planned population boom within the next 25 years, according to a state government blueprint.
The south-east Queensland regional plan, released in 2017, says 89,000 dwellings will need to be built within Logan City by 2041 to home an extra 272,000 people.
About 180,000 people of those are expected to be homed in the Flagstone and Yarrabilba priority development areas.
REIQ’s latest quarterly Queensland Market Monitor, Queensland’s market is described as solid and sustainable.
REIQ forecast a further tightening of lending conditions following the Royal Banking Commission but tipped a smaller impact on the Queensland market compared to other states.
