The Queensland outback town of Quilpie is offering 62 new residential lots and a $20,000 grant to people who build a home. Its earlier free land scheme in 2021 attracted wide interest but met only a small target, with two homes built since. Builders Heather and Matt Stennett say construction costs in the remote town are prohibitively high, with materials freighted over long distances. Mayor Ben Hall says even 20 new residents would have a major impact on the town's growth.
Regional South Australian house prices are still rising, even as Australia's housing market recorded its steepest quarterly drop on record. Domain data show prices outside Adelaide rose 19 per cent over the past year, with a median of $595,000. Every capital city has seen median house prices fall for the first time in 15 years. An economist expects regional areas to be the last to slow, and forecasts six to 12 months of further price falls before a long-term recovery. Real estate agents report enquiries have dropped sharply following a recent interest rate rise.
An Australian couple, Kate and Andrew Buchan, have bought a home in Japan's Myoko Kogen ski region for $16,000. The price is about 1.8 per cent of Australia's median dwelling value. Japan's regional housing market has many empty homes, as younger residents move to cities and populations shrink. The couple plan to turn the property into a family snow retreat for their two young children. They have spent about $10,000 on repairs so far, and the clean-out uncovered mould, pests and rotten flooring. Buyers also face language barriers and ongoing costs.
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Chelsea Bony and Connor Menzies left city living for Quilpie, a remote Queensland town offering a $20,000 grant to anyone who builds a home there and lives in it for 12 months. The couple bought a former church for $150,000 and are renovating it into their home. Quilpie Shire Mayor Ben Hall says capital city property has become unaffordable for many people. The council plans to release 60 new residential lots, and the grant will be extended into 2027.
Regional home values rose 5.6 per cent over the year to September, while capital city values fell 1.8 per cent, according to a Cotality report. Perth and Darwin recorded gains above 10 per cent, but falls in Sydney and Melbourne pulled the capital average down. Property sales in September dropped 20.9 per cent on the same month last year. Cotality research director Tim Lawless said higher interest rates and fears of further price falls were making some buyers hesitant.
Construction has begun on a subdivision at Talee Estate in Westdale, Tamworth, where 47 residential lots are planned, including blocks of about 4000 square metres. Tamworth Regional Council Mayor Russell Webb said 16 lots have already sold, showing strong demand for larger blocks. Brightway Development Group chief executive Edward Fernon said the project should be completed in about six months. Mayor Webb said the city needs more certainty for developers to invest in housing, particularly for mixed accommodation for workers.
