House Prices on the Rise in Varsity Lakes

(By Sid Russell - Bond University journalism student)

Housing prices in Varsity Lakes are on the rise this year and continuing to go strong, according to a local real estate agent.

Ray White, Varsity Lakes real estate agent Grant Burgess the local housing market was promising.

“A lot of families tend to be moving into Varsity Lakes so we’re selling a lot of three to four bedroom houses,” he said.

With the global financial crisis easing, more people are looking to buy houses, he said.

Mr Burgess also said a lot more people were renting houses.

“There is a definite fifty-fifty split [between buyers and renters] down the middle,” he said.

Young first homebuyer Douglas West said he was looking for a home in Varsity Lakes.

He said Varsity Lakes was a great place for him to live and he hoped to have a great future there.

“The average price of a house is around $450,000, I think that is reasonable for the type of suburb you’re getting,” he said.