House prices down in one Shire centre and up in another
Property figures
House prices in Port Douglas have dropped by 10 per cent across the past year, but risen in Mossman by 11 per cent, according to the latest market analysis by PropTrack.
The median house price in Port Douglas is $1.15m based on 31 sales in the year to July, down 10 per cent compared to the year before.
But the median house price in Mossman is $547,500 based on 26 sales - a rise of 11 per cent.
REA Group senior economist Anne Flaherty said home prices across the country had dropped by 0.3 per cent in July, with high interest rates, cost-of-living pressures and budget tax changes all possible factors affecting prices.
“Home prices in Australia’s regional areas continued to show greater resilience than the capital cities, with the combined regional areas seeing prices hold steady over the month,” Ms Flaherty said.
The increase in Mossman prices and the decrease in Port Douglas prices may be hinted at in analysis by Ms Flaherty last month.
“The strongest performing parts of the market continue to be those offering the greatest affordability,” she said.
“Looking ahead, affordability is likely to remain a key driver of market performance, with the share of buyers looking to purchase in more affordable areas,” she said.
The median unit price in Port Douglas is $445,000 based on 189 sales in the past year, up 7 per cent.
Working out trends in other Shire areas is more difficult due to the lower overall sale numbers.