Revealed: Suburbs where home buyers can beat the competition
These are the Queensland suburbs where homeowners are most likely to sell, giving buyers a headstart against the competition.
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EMBATTLED house hunters have been gifted some good news with research finding more Queenslanders are planning to sell their homes in the next six months.
The Moreton Bay region has been revealed as the top area in the state where homeowners are most likely to list their houses, according to an exclusive new Westpac report.
Buyers struggling to beat the competition in the current hot market would be wise to look in North Lakes, Eatons Hill, Margate and even the sleepy Moreton Island town of Kooringal.
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Other outer Brisbane suburbs such as Wakerley, Berrinba and Bundamba have also been touted as future buyer havens.
Those looking for a unit would be best to keep an eye on the suburbs of Banyo and Northgate in Brisbane’s north and Carina, Carindale and Rochedale in the southeast.
For units, the top areas where apartment owners are likely to list fall on the train line from Nundah to Nudgee, along with a group of suburbs spanning Carina, Mackenzie and Burbank in the middle southeast ring.
Redland Bay is expected to show increased listings for units and houses, with the Redcliffe peninsula likely to see more activity in Redcliffe and Scarborough.
The research, commissioned by Westpac and produced by Insight Data Solutions, found a quarter of Queenslanders were planning to sell their home in the next five years and nearly one in 10 were likely to list in the next 12 months.
Nationally, the number of people planning to sell has increased by nine per cent in the past six months, including a growing number looking to downsize.
Westpac managing director of mortgages Anthony Hughes said competition with other buyers and a lack of supply were the major challenges facing buyers in the Queensland market, but there were strong indications listings would increase.
“The signs are there that more supply is coming on to the market, but it’s still early days,” Mr Hughes said.
“Total listings across the country are down 24 per cent on the five-year average, but fresh listings in May were up close to 15 per cent on the five-year average. That plays into potentially good news for buyers.”
Mr Hughes said the increase in buyer demand and rising property prices since the Covid-19 pandemic had prompted more homeowners to think about selling, and that was likely to continue to increase as the supply/demand imbalance improved.
“If you’re selling to buy again, you want confidence to be able to buy the next property and not be left in limbo,” he said.
“The pandemic has seen many expats return from overseas and also a supply shortage — particularly of freestanding housing — across the country.
“While there have been some good government incentives, we really need to do more on the supply side to make sure housing stock keeps pace with demand and the needs of Australians.”
Mr Hughes said homeowners in the Moreton Bay region were seeing the benefit of selling and getting a good return because of the area’s lifestyle appeal, abundance of amenities and affordability, despite its distance from the Brisbane CBD.
“It’s appealing to those who don’t need to be close to a big capital city anymore,” he said.
Jessica McDonald and Harry Cann have decided to list their three-bedroom home at 16 Sarabah St, North Lakes.
They want to stay in the suburb, but see it as a good time to sell, so plan to live with family until the market cools and then buy a block of land and build a bigger house.
David Huynh of Ray White - North Lakes, who is marketing the property, said he was not surprised more people looking to list in the suburb because there had been a flurry of sales activity within the 4509 postcode.
“A lot of people are selling to stay within North Lakes or going to Mango Hill,” Mr Huynh said.
“They’re upsizing to a four-bedder or vice versa — empty nesters going from a five-bedder to a three. Three bedders are selling for as much as a four-bedder.”
Mr Huynh said North Lakes was a popular suburb because it had “everything”.
“You’ve got one of the most highly decorated schools — The Lakes College, great public schools, infrastructure being built, public transport,” he said. “We’re getting a lot of people coming from the city trying to buy out here.
“I had 14 offers on a home at the weekend. Last year, I was struggling to sell a three-bed, two-bath, single-lockup for $400,000 and I just sold one for $550,000.”
The Westpac research found house and apartment listings are also expected to increase on the Sunshine Coast, particularly in the suburbs of Peregian Springs and Sippy Downs.
The outer Cairns suburbs of Bentley Park and Edmonton in the south, as well as Clifton Beach and Kewarra Beach in the north are likely to be good spots for north Queensland buyers to have on their radars.
TOP BRISBANE SUBURBS WHERE HOMEOWNERS ARE LIKELY TO LIST
Houses Units
1. North Lakes 1. Banyo
2. Kooringal 2. Mackenzie/Burbank
3. Wakerley 3. Northgate
4. Eatons Hill 4. Goodna/Springfield
5. Berrinba 5. Rochedale
6. Redland Bay 6. Keperra
7. Murarrie 7. Redcliffe/Scarborough
8. Clontarf/Margate 8. Redland Bay
9. Thornlands 9. Bulimba
10. Bundamba 10. Carina/Carindale
(Source: Westpac)
TOP REGIONAL QLD SUBURBS WHERE HOMEOWNERS ARE LIKELY TO LIST
Houses Units
1. Peregian Springs 1. Jacobs Well-Alberton
2. Craignish-Dundowran Beach 2. Peregian Springs
3. Bentley Park 3. Sippy Downs
4. Gympie-South 4. Paradise Point-Hollywell
5. Sippy Downs 5. Pacific Pines-Gaven
6. Caloundra-West 6. Buderim-South
7. Edmonton 7. Wurtulla-Birtinya
8. Piabla-Eli Waters 8. Pimpama
9. Coomera 9. Mudgeeraba-Bonogin
10. Clifton Beach 10. Benowa
(Source: Westpac)
Originally published as Revealed: Suburbs where home buyers can beat the competition
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