Telina loses battle of the burbs with 14% price drop
IT'S looked upon as the battle of the burbs. Two Gladstone suburbs located within 5km of each other have attracted two very different property values.
The Real Estate Institute of Queensland's December Quarter Median House Report, released at the weekend, found a 14% increase in the median sale price for homes in South Gladstone compared to a 14% drop in Telina.
In December the median sale price for a home in South Gladstone was $469,000, which was a $14.4% increase since last quarter.
The change has seen properties in South Gladstone rise from $405,000 in December 2011 to $442,500.
Meanwhile homes in neighbouring Telina have seen a drop in the median sale price to $455,000.
This figure is far from the $477,500 median sale price recorded between December 2011 and 2012.
Ray White Gladstone principal Andrew Allen puts the change down to a fluctuation in the local property market.
"I think it's important to understand that these figures are based on fluctuation trends in sales in the quarter," Mr Allen said.
"In terms of the Gladstone property crisis, we are starting to see a plateau. Every party has a hangover."
But Century 21 Gladstone principal Jenny Kulikov said more people were interested in buying inner city properties, instead of on the outskirts.
"High density properties in inner-city Gladstone are very attractive at the moment," Ms Kulikov said.
"I think South Gladstone is more attractive for buyers in terms of higher density properties, but Telina is so close to the city and beautiful for family homes."
The REIQ also found that house sales in Queensland increased by 8% in the December quarter last year.
Price drop doesn't worry Telina resident
TELINA may be a long way from Moranbah or Melbourne, but that hasn't stopped Michelle Troon from calling the Gladstone suburb home.
After purchasing her Dorado Crt property a month ago, Michelle and her family are enjoying the suburban lifestyle.
"Telina is very centralised," she said. "It's close to the city and to the beach."
This week the Real Estate Institute of Queensland revealed that the median sale price for houses in Telina dropped 14.2% since last quarter to an average sale price of $455,000.
But that figure doesn't worry Michelle - she admits she was watching the property market for 12 months before making the purchase.
"Lot's of people are saying (Gladstone) will be an ice town, but I don't think that's the case," she said.
"They said the same about Moranbah but they have houses that were asking between $700,000-$900,000 now valued at $1.2million."