Mount Isa is Queensland’s most-improved property market for 2019 according to a report by leading property market research firm. The report, by Brisbane-based firm Propertyology is confirmation of Council’s long-standing confidence in the Mount Isa region.
“The fact we’ve topped the list as Queensland’s most-improved property market for 2019 is further evidence of what we’ve always believed. That our city has a strong future ahead of it,” Cr McCulloch said.
“Mount Isa is entering a prosperous era.” claims the report. With world demand for mining commodities increasing significantly over the past few years, a new mining cycle is now underway. This is an incredible shot in the arm for confidence in our city’s future.”
“This report is a wonderful seal of approval from some of Queensland’s top property experts. Who, are predicting great things for our city.”
The report, authored by Managing Director, Simon Pressley, also states that existing mines in our region have been increasing production again. And exploration for new mines is on the rise.
Mr Pressley stated that consequently, properties in Mount Isa sold much quicker over the last 12 months. Sold time decreased to 38 days on average, compared to 77 days in the prior year. Vacancy rates also tightened over the year from 3.1 percent to 2.1 percent,” helping achieve our status as Queensland’s most improved property market for 2018.
Right across Australia, in 2018 there was visual evidence of many non-capital cities performing well.
Cr McCulloch said she was confident that Mount Isa’s economy will only go from strength to strength over the next few years as the new mining cycle takes hold. Cr McCulloch is looking forward to seeing the future flow-on benefits to our community.