Kingaroy has been listed as the sixth best suburb in regional Queensland to invest.
Canstar’s top 10 rising stars for regional Queensland named Kingaroy alongside Queensland localities such as Bargara, East Toowoomba, West Gladstone and Golden Beach.
The ranking is based on 2023 analysis, comparing prices and the number of house sales, as well as rental markets across the state.
Canstar listed Kingaroy as a regional centre with ‘growing importance’ as the ‘headquarters of the South Burnett region’.
The key agricultural region, with a growing tourism industry, has significant investment directed in the region from the newly upgraded Kingaroy Hospital to large-scale alternative energy projects.
“The long-term growth in house prices has been strong, but the median remains in the mid-$300,000s, with vacancies just 0.4 percent and yields above 6 percent,” Canstar reported.
Currently, the South Burnett region is uniquely positioned to offer lifestyle and employment opportunities, covering a geographical area of approximately 8,381.6 km2 and home to 32,996 people.
Danita Potter, Division 3 South Burnett councillor which covers the Kingaroy area, shared about the growing investment interest in the area.
“Council has seen a doubling of the number of development applications received for planning matters since the 2020/2021 financial year, indicating the growth within our region,” Cr Potter said.
“With many projects underway including upgrades to our swimming pools, a new warrior course and basketball courts, recent upgrades to our public hospital and the upcoming private hospital expansion including further aged care facilities, Kingaroy is set for an exciting future.”
Division 4 South Burnett councillor Deb Dennien agreed.
“Kingaroy serves as the primary hub for the South Burnett region offering quality lifestyle options to its residents, with parks, museums, art galleries, a local swimming pool, Kingaroy’s big peanut, sports grounds and more,” she said.
“With a strong community spirit, Kingaroy is home to some great annual events such as BaconFest, a celebration of our thriving pork industry.”
Canstar’s report observed a growth in regional Queensland markets.
In 2023, according to CoreLogic data, Regional Queensland recorded the second highest growth in its median house price (up 8.6 percent) behind South Australia. It also has the second highest growth in the median unit price (up 9.1 percent) after Western Australia.
Canstar’s Top 10 rising stars are:
Bargara
Berserker
Blacks Beach
East Toowoomba
Golden Beach
Kingaroy
Merrimac
Nambour
Varsity Lakes
West Gladstone
