Mount Isa Tops State’s Most-Improved Property Market List
Mount Isa is the Queensland’s most-improved property market for 2019 and is entering a new era of prosperity, according to a leading property market research firm.
Mayor Joyce McCulloch says the report by Brisbane-based firm Propertyology is confirmation of Council’s long-standing confidence in Mount Isa, its economy and future growth possibilities and potential.
“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 Mount Isa has a strong future ahead of it,” Cr McCulloch said.
“Propertyology says that Mount Isa is entering a prosperous era, with world demand for mining commodities increasing significantly over the past few years, and a new mining cycle now underway, which 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, like us, are predicting great things for our city.”
The Propertyology report, authored by the company’s Managing Director, Simon Pressley, also says that existing mines in the Mount Isa region have been increasing production again, while exploration for new mines is also on the rise.
“Consequently, properties in Mount Isa sold much quicker over the last 12 months (38 days on average, compared to 77 days in the prior year) and vacancy rates tightened over the year, from 3.1 percent to 2.1 percent,” Mr Pressley said.
“Right across Australia, in 2018 we saw visual evidence of many non-capital city property markets performing well.
“In a majority of cases, the primary driver was related to economic development activities from prior years that are now starting to produce tangible benefits for these communities.”
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 and that she’s looking forward to seeing the future flow-on benefits to the community.
The report can be found at: https://www.propertyology.com.au/tips-for-wholl-rise-up-the-2019-property-ladder/