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    Coat of ArmsMedia Release
    Deputy Premier, Minister for State Development, Infrastructure and Planning
    The Honourable Jeff Seeney

    Weekend auction sells seven Mary Valley properties

    Deputy Premier, Minister for State Development, Infrastructure and Planning
    The Honourable Jeff Seeney

    Sunday, March 23, 2014

    Weekend auction sells seven Mary Valley properties

    Seven more Mary Valley properties sold under the hammer as the Queensland Government’s sales program for the region gathers momentum.

    Deputy Premier and Minister for State Development, Infrastructure and Planning Jeff Seeney said the Government had now sold, or committed to development leases, more than 230 of the 480 properties it was looking to divest in the wake of the failed Traveston Dam episode.

    “Labor’s Traveston Dam debacle cost the state hundreds of millions of dollars, displaced scores of families and left the government owning almost 500 properties,” Mr Seeney said.

    “Our Mary Valley Economic Development Strategy resolved to revitalise the area’s economic development, create new jobs, support productive enterprises and create vibrant and stable communities."

    Mr Seeney said a crowd of approximately 150 people at the Gympie RSL yesterday engaged in spirited bidding for the 12 properties auctioned, and negotiations continue with bidders for four of the properties that failed to reach their reserve price.

    “We expected a strong turn out because of the interest in the properties prior to auction, but it’s great to see the level of community enthusiasm and faith in the Mary Valley,” he said.

    The seven properties sold were predominantly rural residential and realised a total $2.6 million, with a highest price of $475,000.

    Member for Gympie and chair of the Mary Valley Economic Development Advisory Group, David Gibson said the announcement earlier this month that Mary Valley could become a centre for Quarter Horse breeding, research and racing had fuelled interest in the auction.

    “Interest in the properties was already strong, but the prices we achieved today shows that the market is acknowledging the opportunities offered by the Mary Valley’s rejuvenation,” Mr Gibson said.

    “The auction clearance rate of 60 per cent is well above RP Data’s reported clearance rate for auctions in Queensland of 40 per cent, and we’ve achieved that while protecting values and maintaining the broader property market.

    “It shows that the Queensland Government’s revitalisation strategy for the Mary Valley is bearing fruit.

    “We are now halfway through the property divestment program and, with property valuations on the rise, it is reasonable to expect strong buyer interest for the properties we release for sale in the coming months.”

    For more information on the Mary Valley visit http://www.maryvalleyproperty.com/maryvalley/

    [ENDS] 23 March 2014

    Media Contact: Jane Paterson 0417 281 754 or Elizabeth Spry 0418 928 744