The property market in Mary Valley is soaring high with a record 48 sales worth $11.67 million taking place in the last six weeks.
Deputy Premier and Minister for State Development, Infrastructure and Planning Jeff Seeney said the number of sales made so far this year was impressive, with a sales rate about 50 per cent faster than last year.
According to Mr Seeney, the revenue is a long way from the $500 million wasted by Labor on the failed Traveston Dam project, but it shows the current government has a strong plan for the region’s future. With 109 sales having been accomplished this year, the Government has achieved its aim to crack a century of sales in the first five months of the year. Only 98 sales were made over the entire year in 2013.
The Queensland government’s Mary Valley revitalisation strategy has provided an affordable opportunity for Queenslanders to enter the housing market, with 48 of the 109 sales made by existing tenants of the properties. Purchased property prices have averaged $248,300 per property, with prices ranging from $71,000 for a vacant parcel through to $590,000 for a large rural site.
Mr Seeney said since the Queensland Government launched its Mary Valley Economic Development Strategy in July 2012, a total of 13 properties were sold in 2012, 98 in 2013 and 109 so far this year.
Mr Seeney says there has also been strong interest in eight properties that have been heavily discounted as they are being offered with tenants on long term leases. Selling agent Oliver Hume received 15 expressions of interest in the eight properties within two weeks of their release. Negotiations are on to sell five of the properties to buyers who have recognised these properties as offering value for long-term investment.