After the latest Federal Budget, many home loan holders will welcome some general saving tips.Photo Tom Huntley / Chris Chan The Observer
After the latest Federal Budget, many home loan holders will welcome some general saving tips.Photo Tom Huntley / Chris Chan The Observer Tom Huntley GLA300413HOUS

HOT PROPERTY: Prices boom in parts of the Southern Downs

THERE'S one part of the Southern Downs where property prices have grown faster than Brisbane.

It's Stanthorpe.

Data released by the Real Estate Institute of Queensland shows the Granite Belt town's median house prices increased about 8.3 per cent in the past year.

The median price is up from $240,000 in 2016/17 to $260,000 in 2017/18.

This is much higher than the Brisbane wide average of 2 per cent and rivals breakout pockets like the leafy Brisbane suburbs like Bulimba (10.6 per cent) and Hendra (12.7 per cent).

Warwick, on the other hand, is best described a lukewarm.

In the past year Warwick's prices went up by 2 per cent, which is slightly ahead of inflation.

Factor in council rates, stamp duty and maintenance, and some buck-wild home investors might be going backwards.

The median price for a Warwick home sits at $255,000, up from about $250,000 last year.

Warwick had a higher turn over with 195 properties sold in the past year while the hammer fell on 94 homes and businesses in Stanthorpe.

If you look longer term the Southern Downs is a safe place to buy a home.

Warwick property prices in town have increased by 7.4 per cent over the past five years while Stanthorpe homes appreciated by 12.6 per cent.

The Southern Downs is doing much better than our neighbours in the Western Downs.

Over the past five years home prices fell by 49.4 per cent in Chinchilla and 10.5 per cent in Dalby.

The yearly change for both towns is 0.1-0.6 per cent.