Revealed: The next boom suburbs to watch in Brisbane, regional Qld

Home prices could rise upwards of $100,000 in Brisbane and regional Queensland suburbs that saw below average growth in 2023 as escalating buyer demand puts them on the next boom list.

The suburbs to watch in 2024 have been revealed, with Sheldon – where 134 Campbell Road (left) is listed at $1.45m for a 1.01ha block – leading the charge in Greater Brisbane.

New data has revealed the next suburbs set to boom in Brisbane and regional Queensland, where peak buyer interest in areas with below average price growth is set to see prices rocket in 2024.

Home prices could rise upwards of $100,000 each in some of the hottest suburbs named by property analysis firm PropTrack, as escalating buyer demand pushes 2023’s laggards onto 2024’s boom list.

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This six bedroom house on a 1,604sq m block at 622 Mount Cotton Road, Sheldon, is listed at offers over $880,000.

PropTrack named Sheldon in Brisbane’s east and Tallebudgera Valley on the Gold Coast as the hottest prospects for a house price boom in Brisbane and regional Queensland respectively in 2024.

It found key enquiry levels were hitting 58 people per home in Sheldon, with prices growing at 6 per cent this past year – which is about two-thirds the pace of the rest of Brisbane (9.4pc). A mid-priced home in Sheldon will set you back $1.579m today, but could cost almost $150,000 more if prices kept pace with the Brisbane average next year.

In Tallebudgera Valley, buyer enquiries were sitting at about 60 per house with prices rising at 5.2pc in the past year, just under the regional Queensland year-on-year growth rate of 5.4pc. A mid-range house in the suburb sets you back $1.99m right now. – with prices to rise by over $100,000 if it matches the rest of the state in 2024.

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This four bedder on a 7,648.56sq m block at 58 Monday Drive, Tallebudgera Valley, is listed at $1.795m-plus.

Samford Valley in Moreton Bay South is also a sizzling growth prospect, with 58 enquiries per house and prices having risen just 3.5pc in the past 12 months – which was only 38 per cent of the Brisbane average. If the current median house price matches the average Brisbane pace in 2024 the median house price would rise by over $150,000.

PropTrack senior economist Paul Ryan said essentially the list covered suburbs buyers were enquiring about that haven’t seen quite the same level of home value growth as their respective regions.

PropTrack senior economist Paul Ryan.

Bunya, Pullenvale, Brookfield, Cornubia, Kurwongbah, Springfield, Camira and Buccan all made boom list for house price rises in 2024 across Greater Brisbane.

Springfield also made the list for units, topping Brisbane’s growth prospects with 44 enquiries per listing. Unit prices in the suburb currently sit at $491,000 after growing just 1.3pc in 2023, dramatically short of the Brisbane 9pc growth rate.

Other suburbs across the capital region set to see unit prices spike were Kenmore, Ormiston, Carseldine, Bracken Ridge, Gordon Park, Herston, Mount Gravatt, Redcliffe and Windsor, according to PropTrack.

Only one other Gold Coast suburb made the regional Queensland top 10 list – Currumbin Valley where there are 54 enquiries per house right now, with prices sitting around $1.678m off a 2.9pc rise in 2023 (just over half the average pace state-wide).

This four bedder at 993 Tallebudgera Creek Road, Tallebudgera Valley, is on a 979sq m block and listed for sale at $1.149m.

The Sunshine Coast dominated the rest of the list including houses in Ninderry, Rosemount, Glenview, Tanawha, Peachester, Eumundi, Doonan and Woombye.

The Gold Coast made up seven of the top 10 regional growth prospects for units, though the top suburbs was Pelican Waters on the Sunshine Coast where there were 31 enquiries for each listing and prices rose just 1.7 per cent in the past year. If prices mirrored the 2023 regional year on year growth in median prices (7.3pc) going forward, buyers would be looking at a jump of $63,000.

Twin Waters and Currimundi were the only other two unit boom suburbs from the Sunny Coast, with the rest out of the Gold Coast – Currumbin Waters, Mudgeeraba, Burleigh Waters, Broadbeach, Elanora, Clear Island Waters and Tugun.

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Originally published as Revealed: The next boom suburbs to watch in Brisbane, regional Qld