20 suburbs named 2024’s rising stars across Brisbane, Queensland
Brisbane is expected to top Australia’s real estate market this year with Queensland set to see several areas boom amid major demand and Olympic spending. See the top 20 suburbs to watch.
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Brisbane is expected to top Australia’s real estate market this year with Queensland set to see several areas boom amid major infrastructure spending.
Rising Stars – Canstar’s Australian Property Market Report 2024 developed with Terry Ryder who publishes hotpotting.com.au – saw Brisbane cemented as a property hotspot powerhouse beating last year’s winner Adelaide to top the country.
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“We see Brisbane as the likely leader, with Adelaide and Sydney close behind; Perth starting to slip down the rankings, while remaining a growth market; Melbourne doing better than in 2023; Queensland emerging as the strongest regional market; and Canberra and Darwin the weakest locations,” Mr Ryder said of the report.
He said capital cities were seeing a resurgence, with house prices rising at double the rate of that in the regions in the year to March 1.
Brisbane ranked first overall, thanks to its first place for infrastructure spending linked to the Olympics, placing third for sales volumes, quarterly price growth and rental growth and seventh for vacancy rates.
The top 10 suburbs named rising stars in Greater Brisbane were led by Bellbird Park in Ipswich City which is providing affordable options as Brisbane becomes increasingly pricey.
Bowen Hills was named for its unit market, priced in the $400,000s on the doorstep of the CBD, while Cleveland in Redland City was said to be underrated in the past but rising now for its bayside lifestyle.
Eagleby in Logan City was also sought after, the report said, given its affordable dwellings with good infrastructure, as was Goodna where the median house price was still well below $500,000.
Milton was in the top 10 for units as “one of the best-situated suburbs in Brisbane” with ready access to all the best the city has to offer event-wise, while Nundah’s house and unit markets were both expected to be strong performers with high demand from young buyers.
Petrie where prices have jumped almost 10 per cent a year in the past decade was also in the top 10, as was Springwood halfway between Brisbane and the Gold Coast and Wavell Heights where house are now more than $1m and long term capital growth is over 10pc.
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Regional Queensland – whose prospects ranked fourth best in the nation last year and is now fifth equal with Melbourne – was named the best of the regional markets.
The top 10 stars were expected to be Bargara in Bundaberg, Berserker in Rockhampton, Blacks Beach in Mackay, East Toowoomba, Golden Beach on the Sunshine Coast for both houses and units, Kingaroy in the South Burnett region, Merrimac on the Gold Coast for both houses and units, Nambour on the Sunshine Coast, Varsity Lakes (houses and units) and West Gladstone.
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Originally published as 20 suburbs named 2024’s rising stars across Brisbane, Queensland
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