Buy here: The surprise Queensland suburbs set to boom in 2022
House-hunters gearing up to buy in the year ahead have been gifted an exclusive glimpse at the Queensland suburbs that should be on their shopping list in 2022. SEE THE LIST
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House-hunters hoping to buy in the year ahead have been gifted an exclusive look at the Queensland suburbs that should be on their shopping list in 2022 — and many may come as a surprise.
The once undesirable locations of Caboolture, Kippa-Ring and Cleveland are among a select list of suburbs hand-picked by one of the country’s leading property experts to outperform over the next 12 months.
Canstar’s inaugural ‘Rising Stars Report’, in collaboration with Hotspotting, identifies the most promising locations for property price growth across Queensland in 2022, based on a series of forward-looking indicators including infrastructure spending, rental growth and sales volumes.
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Ryder Research Resources and hotspotting.com.au managing director Terry Ryder said the Brisbane housing market was on track to become one of the strongest in the nation, thanks to infrastructure spending in the lead-up to the 2032 Olympic Games.
“Brisbane is fast becoming one of the hottest markets in the country with property selling very, very, quickly at prices that even the vendors and agents weren’t expecting,” Mr Ryder said.
“Brisbane’s potential for future price growth, now being boosted by elevated infrastructure spending and a major uplift in sales activity, is greatly enhanced by the affordability comparison with the two biggest cities — Sydney and Melbourne. There is... great capacity for Brisbane to close the price gap.”
But Mr Ryder believes regional Queensland will also continue to flourish, with locations like Bundaberg East, Rockhampton and Gympie among the ‘rising star’ towns and suburbs.
With tighter lending restrictions in store, homebuyers could be facing a tough year ahead.
“Prices are rising and if you are borrowing a lot of money and your mortgage is more than 80 per cent, you want the value to at least hold its ground,” money expert and Canstar editor-at-large Effie Zahos said.
“Prices don’t always go up, and they can fall in some locations. You don’t want to owe more than what the home is worth. To avoid that, you need to buy in an area where your equity will grow.”
The full ‘Rising Stars’ report can be found here
19 QLD SUBURBS SET TO BOOM IN 2022:
ANNERLEY
Median price $825,000
Annerley, 6km south of Brisbane’s CBD, should benefit from its proximity to the main Olympic venues in the lead up to the Games in 2032.
The suburb is also close to the Princess Alexandra Hospital, the University of Queensland and the Pacific Motorway.
Vacancies are low, sales activity is rising and there has been a particularly strong price uplift in the latest quarter.
BUNDABERG EAST
Median price $300,000
The Bundaberg region is attracting lifestyle buyers seeking affordability.
This area is also attracting significant government investment, including a new $1.5 billion hospital.
The city has very low vacancies and rising rents.
BURLEIGH WATERS
Median price circa $1m
The Gold Coast canal suburb of Burleigh Waters has seen a price explosion in 2021, with its median recently breaking through $1 million.
Buyer demand has increased against a backdrop of very low vacancy rates and strongly rising rentals.
CABOOLTURE
Median price $385,000
Brisbane’s affordable north provides many appealing options for buyers, headed by the nerve centre suburb of Caboolture.
It has much to offer in the way of infrastructure, as well as affordable housing.
Sales levels have trebled in the past 12 months and prices are on the move.
Caboolture also has one of the lowest vacancy rates in Brisbane, with rents rising strongly.
CARINDALE
Median price $980,000
Carindale is one of the middle-ring suburbs in Brisbane’s east that have outperformed in 2021.
Vacancies are at a tight 1 per cent, rents are surging, sales demand is up and prices are starting to react.
CLEVELAND
Median price $685,000
Redland City is perhaps Brisbane’s most underrated market, according to Mr Ryder, but it’s becoming increasingly popular for its variety of hill change and sea change options.
Sales volumes in the bayside suburb of Cleveland have doubled in the past 12 months and
price growth is gathering speed.
EAGLEBY
Medain price $325,000
Logan City, which serves as an urban bridge between Brisbane and the Gold Coast, has become one of the nation’s busiest markets.
Most suburbs have strongly rising sales activity, including Eagleby, where sales volumes have quadrupled in the past 18 months, so inevitably, prices are on the rise.
EAST IPSWICH
Median price $315,000
Sales activity has exploded in Ipswich City in the past six to nine months and most suburbs have recorded exponential rises in buyer demand.
East Ipswich has a commuter train station, sits beside the Ipswich CBD and offers a high level
of affordability.
There have been big price rises in the latest quarter on the back of increased buyer demand, while rents are responding to vacancy rates well below 1 per cent.
GYMPIE
Median price circa $400,000
A short drive up the motorway from the Sunshine Coast, the regional city of Gympie has been thriving based on its relative affordability and motorway upgrades.
Sales levels have doubled in the past year, rents are rising and the rate of price growth is increasing.
HERVEY BAY
Median price circa $420,000
Hervey Bay is a natural beneficiary of the flock to lifestyle properties trend and sales activity has turned sharply upwards in 2021.
Towards the upper end of this market, there is rising buyer demand in Dundowran Beach and prices are responding.
KIPPA-RING
Median price $475,000
The Redcliffe Peninsula is starting to reach its potential as a lifestyle enclave.
Train links to central Brisbane have recently been added to the infrastructure mix and Kippa-Ring is the most direct beneficiary.
Low vacancies, rising rents, increased sales activity and big price uplift in the last
quarter all point to a rising market.
LITTLE MOUNTAIN
Median price $665,000
The Sunshine Coast has been one of the nation’s strongest growth markets in the past two to three years and continues to attract strong buyer demand.
Little Mountain is well-situated to benefit from new infrastructure, notably the multibillion-dollar medical precinct.
MITCHELTON
Median price $745,000
There has been strong momentum in sales activity in the middle-market suburb of Mitchelton this year, according to Mr Ryder.
The suburb ticks a lot of boxes for amenities and infrastructure, rents are responding to low vacancy rates and prices are surging on the back of increased sales.
PADDINGTON
Median price $1.265m
The inner Brisbane suburb of Paddington has long been popular for its location, trendy cafes and shops, and character homes.
The report sees it continuing to do well in 2022, with rents rising strongly, sales volumes increasing and prices starting to take off.
PARADISE POINT
Median price $1.105m
The Gold Coast broadwater suburb of Paradise Point is attracting rising buyer demand and prices have taken off notably in the most recent quarter.
ROCKHAMPTON
Median price circa $200,000
A big infrastructure spend is helping to generate revival in the Rockhampton market, where
mainstream houses are still available in the $200,000s.
Low vacancies, rising rents and increasing demand from buyers seeking affordability all add up to a situation where prices must rise.
SANDGATE
Median price $865,000
The Brisbane northside middle-market suburb of Sandgate is attracting strong demand from both tenants and buyers, with rents and prices starting to take off.
A commuter train station and easy access to the Gateway Motorway are part of the appeal.
SOUTHPORT
Median price circa $750,000
Sales activity in Southport, a suburb positively impacted by major infrastructure, has more than doubled in the past 12 months and the rate of price growth is accelerating.
Very low vacancies also mean rents are rising strongly here.
TOOWOOMBA
Median price circa $400,000
There is rising interest in the important inland city of Toowoomba, where new transport infrastructure is lifting its economic importance.
The second Range Crossing, the new Wellcamp Airport and the fast-approaching Inland Rail Line are already making an impact.
Sales activity in suburbs like Centenary Heights (median price $395,000) has doubled in the past year and prices are starting to respond.
The full ‘Rising Stars’ report can be found here
Originally published as Buy here: The surprise Queensland suburbs set to boom in 2022
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