QLD’s New Million Dollar Homes
Queensland is quickly becoming one of the nation's leading real estate markets, with more and more people looking to invest in the sunshine state.
And while their southern neighbours come to terms with the slowing pace of a post-GFC economy, it seems that the mining boom is continuing to strengthen the state's domestic economy and real estate market.
But despite a number of experts coming out of the woodwork to put in their two cents about where and when the money will be made, it is doubtful whether anyone was expecting The Courier Mail's February 22 headline about a couple wanting to sell their home in Capella for a breezy $1 million.
On first impression, Steve and Ruth Franettovich appear to be your average Australian couple, but if the property sells that may become one of the country's savviest investors.
"We've always known the house, land, million-dollar view that she has out the back and the one-off opulence of the home make it a prestige home," commented Mrs Franettovich.
"We've just been waiting for the economy in the area to lift."
The pair initially decided to sell more than two years ago when mining activity in the area began to pick up, having a direct impact on living costs and driving up house prices.
Figures from last year's September quarter show that the median house price in the central highlands, where the Franettovich property is located, went up by 16.1 per cent.
This is an impressive result by any standard, but even more so when you compare it to the state's capital Brisbane, which fell 5.9 per cent in the same period.
The Franettovich's are prepared to wait for the right price and are said to be regularly meeting with would-be buyers, but have yet to put pen to paper and sign on the dotted line.