Banana Shire, QLD

The Shire of Banana is a local government area in Queensland’s Capricorn region. The region is a major growing area for the state with a high-quality fruit crop, especially bananas. The real estate market in Banana Shire is considered to be ‘‘balanced’’ market.

Show More

The economy of Banana Shire is strongly influenced by agriculture. The main agricultural activities are cattle grazing, dairying and cropping. The main sources of employment in the shire are small businesses in the towns.

The most common employment in Banana are Managers (20.3%), Technicians and Trades Workers (16%), Labourers (15.4%), Machinery Operators and Drivers (14.1%), and Professionals (9.9%). Banana LGA has a median weekly personal income of $714 for those aged 15 and above.

While there are some residential areas, the majority of the population is employed in the agricultural sector. The region is also popular for retirees, thanks to its affordable housing and quiet lifestyle. The market for investment in Banana Shire is primarily limited to agricultural land and residential properties. The region is expected to experience strong capital growth in the coming years as retirees and young families continue to flock to the area.

Separate homes account for 92.6 % of occupied private residences in Banana, while semi-detached, row or terrace houses, townhouses, and other buildings account for 1.2 %, flats or apartments account for 3.6 %, and other dwellings account for 1.7 %.

Wondering where to invest in the Banana Shire LGA? Review the property market metrics using the interactive dashboard below.

Show Less



Capital Growth Heatmap

Property Market Snapshot

This page provides an overview of the LGA real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this council area. You are able to drill down to suburb-level data and charts which visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

4BR

5BR

Typical Price for houses in this council area. Percent changes indicate Year on Year growth or decline in house values. Council area house prices are calculated by averaging Typical Price of all suburbs within the area. Typical Price is a more accurate metric than Median Price.

Rent 

2BR

3BR

4BR

5BR

Median Weekly Rent for houses in this council area. Percent changes indicate Year on Year growth or decline in rental prices. Calculated via median value formula applied to rental prices from online listings.

Yield 

2BR

3BR

4BR

5BR

Yearly Gross Yield for houses in this council area. Calculated by multiplying the Median Rent by 52 and dividing the resulting value by Typical Price. Percent changes indicate Year on Year growth or decline in Gross Yield for houses.

Buy 

1BR

2BR

3BR

Typical Price for units in this council area. Percent changes indicate Year on Year growth or decline in unit values. Council area house prices are calculated by averaging Typical Price of all suburbs within the area. Typical Price is a more accurate metric than Median Price.

Rent 

1BR

2BR

3BR

Median Weekly Rent for units in this council area. Percent changes indicate Year on Year growth or decline in rental prices. Calculated via median value formula applied to rental prices from online listings.

Yield 

1BR

2BR

3BR

Yearly Gross Yield for units in this council area. Calculated by multiplying the Median Rent by 52 and dividing the resulting value by Typical Price. Percent changes indicate Year on Year growth or decline in Gross Yield for units.

Sign up on the Starter Plan for 95¢

Subscribe to our newsletter and receive a $5 discount code to your verified email

This chart illustrates historical and projected quarterly typical price and number of sales, which are depicted as blue lines and green bars respectively. Council areas with average sales above 30/quarter and suburbs with sales above 7/quarter commonly produce high confidence forecasts.
No data
Loading…

Upgrade to Personal Plan to see forecasts on the graph above.

This chart shows historical and projected median rent and number of rentals, depicted as red lines and grey bars respectively. In many markets Rent prices lag the Typical Price by 1-2 years.
No data
Loading…

Upgrade to Personal Plan to see forecasts on the graph above.

This chart presents the gross rental yield, which is the value you generate from an investment property, represented as a percentage. The higher the percentage the better. Yield that is trending down frequently highlights a high demand market.
Upgrade to Personal Plan to see Yield data.
Yield chart
This graph represents the dwelling demand profile for the LGA/suburb, which tends to correlate with the tenant preference for property type and number of bedrooms. Target dwelling type and number of bedrooms with the highest number of sales.
Upgrade to Starter Plan to see Demand Profile data.
Demand chart
Upgrade to Starter Plan to see U|H and R|O data.
The chart below shows the proportion of units to houses in this area. Generally speaking the fewer units there are, the better.
unit to houses pie charts
The pie chart below shows the percentage of renters to owners in an area. Generally speaking the more owners the better.
Renters to owners pie chart
The chart below shows the IRSAD score for the area. IRSAD stands for the Index of Relative Advantage and Disadvantage. The higher the index, the more well off the population is in the area.
Upgrade to Starter Plan to see IRSAD data.
IRSAD chart
This graph shows online search interest for sale and rent listings. The black line(s) represents the search index, which is the ratio of LGA/suburb searches to the state average. Value of 5 signifies that Buy/Rent searches are at state average. Be wary of areas with SI below 3.
Upgrade to Professional Plan to see Buy & Rent Search Index data.
Index chart
This chart plots the annual percent change in typical prices for all suburbs in this LGA. Suburbs that cross the red (zero) line more than 3 times present poor capital growth opportunities.
Upgrade to Professional Plan to see Growth Rate Cycle data.
GRC chart

Confidence: High, Medium, Low

Supply

Stock on Market

Inventory

Hold Period

The most important metric for understanding the supply of homes in a given market. Stock on Market (SoM) is represented by bars which show the number of listings per month, and by a line which indicates the percentage of listed homes compared to the total number of dwellings in the area (SoM Percentage). A higher stock on market indicates a greater supply of properties.
Upgrade to Professional Plan to see Stock On Market trend.
SOM chart
Inventory levels indicate the amount of stock available in relation to average monthly sales. Inventory levels above 3 months indicate a sizeable amount of stock available, while lower levels indicate diminishing supply. Decreasing inventory level trend can signal that prices may increase in the future.
Upgrade to Professional Plan to see Inventory trend.
Inventory chart
Average number of years properties are re-sold in the area. The higher the value, the lower is the supply in the property market. Changing trend can act as a lead indicator to price increases / decreases.
Upgrade to Professional Plan to see Hold Period trend.
Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

The Days on Market metric shows how long, on average, it takes for listed properties to be sold. A higher number of days means that there is less demand for properties. Measured in days.
Upgrade to Professional Plan to see Days On Market trend.
DOM chart
Monthly vacancies (bar) and Vacancy Rates (line) in the area. Vacancy rates serve as a rental market demand indicator. Lower vacancy rates point to greater demand in the rental market. Decreasing vacancy rates can act as a lead indicator to both rental and sale price increases.
Upgrade to Professional Plan to see Vacancy Rate trend.
Inventory chart
Auction clearance rates in the area. The higher the clearance rate, the greater is the demand in the market. This metric is most useful at LGA level. Some high density suburbs with active markets can also have good quality clearance rate data. However, this metric is somewhat sparse for 80% of suburbs.
Upgrade to Professional Plan to see Clearance Rate trend.
Auction chart

All Supply / Demand cards and graphs on this page are published under a preliminary Beta release.
You’re welcome to leave your feedback on our forum.

Property Market in Banana Shire, QLD

What other property markets are there near Banana Shire, QLD?

Banana Shire is surrounded by 5 other council areas – Maranoa, Gladstone, Central Highlands, Western Downs, North Burnett.

How many people live in Banana Shire, QLD?

There are approximately 14500 people living in roughly 7000 dwellings in total, with an average household size of 2.6.

What major retailers are there in Banana Shire, QLD?

There are main retailers such as The Reject Shop, Roundyard – All Things Country, Drakes Biloela, Biloela Mitre 10.

What is the main industry in Banana Shire, QLD?

Such sectors as coal mining, beef production, power generation, dryland cropping and irrigation cropping take the largest part of the employment.

What are the dominant demographic groups in Banana Shire, QLD?

Among approximately 14500 people in males and females make roughly 51% and 49% respectively. The median age of people is 37 years. Children aged 0-14 years account for approximately 22% of the population, and those aged 65+ years account for 14%.

How is unemployment rate trending in Banana Shire, QLD?

Among approximately 7500 people employed, roughly 66% work full-time, 24% work part-time, and an estimated 4% are unemployed.

Suburbs/localities in this Local Government Area: Eurombah 4420, Ghinghinda 4420, Glebe 4419, Glenhaughton 4420, Glenmoral 4719, Goovigen 4702, Greycliffe 4715, Gwambegwine 4420, Banana 4702, Isla 4719, Baralaba 4702, Kianga 4718, Kinnoul 4420, Kokotungo 4702, Lawgi Dawes 4716, Lonesome Creek 4719, Baroondah 4420, Mount Murchison 4715, Moura 4718, Alberta 4702, Orange Creek 4715, Pheasant Creek 4702, Prospect 4715, Roundstone 4718, Biloela 4715, Spring Creek 4420, Taroom 4420, Tarramba 4715, Thangool 4716, Theodore 4719, Ulogie 4702, Valentine Plains 4715, Warnoah 4718, Westwood 4702, Woolein 4702, Wowan 4702, Jambin 4702, Broadmere 4420, Callide 4715, Camboon 4719, Castle Creek 4715, Cockatoo 4419, Coorada 4420, Cracow 4719, Dakenba 4715, Dixalea 4702, Dululu 4702, Dumgree 4715, Dumpy Creek 4702

Leave a comment