The latest Real Estate Institute of Queensland (REIQ) data shows Bundaberg’s quarterly median house price has fallen 5.5 per cent to $260,000 whereas units boasted a quarterly median price of $287,000.
What’s the deal?
“This is really unusual and it’s a little bit of a quirk of the market – we haven’t seen this in more than 20 years,” said REIQ CEO Antonia Mercorella.
“It’s also a reflection of the buyers, who are largely pre-retirees and southern investors buying low-maintenance units that are easy to look after and very liveable.”
And if you think that’s quirky, here are some more bizarre facts from property markets around the world:
- A glut of castles hitting the market in France last year saw some castle values dip below Sydney unit prices.
- Half of all homes in Japan are demolished within 38 years, a phenomenon dubbed “disposable homes”.
- The Greek debt crisis led to a Greek isle fire sale last year where a little over a million dollars could secure your island in the sun.