PHOTO: Mr Kusher said he didn’t see an imminent turnaround in Queensland’s outback property market unless commodity prices started to rally.
Australia’s largest property markets of Sydney and Melbourne might have shown some big falls in house prices but it is outback Queensland that was the worst performer in 2018 with mortgagee-in-possession sales starting to bite.
Property prices in the expansive region, which encompasses the towns of Longreach, Mount Isa and Birdsville, fell 14.1 per cent over the year. They were down 8 per cent in the December quarter alone, showing the pace of decline is building momentum.
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