Bellara, Deception Bay lead the way for house price growth, rental returns

The Moreton Bay region has become a jewel in the crown of Queensland real estate with seaside suburbs a winner for investors. FIND OUT WHERE TO BUY HERE

Savvy real estate investors have set their sights on the Moreton region with seven suburbs leading the way, according to exclusive new data from the REA.

Deception Bay is sitting in second spot in the top 30 overall investor locations for Greater Brisbane, as revealed by the real estate digital advertising company which operates Australia’s leading property websites.

Three hundred and thirty nine homes have been sold in 2021 so far, compared to 227 a decade ago, showing the 10 year growth at an incredible 32.8 per cent.

Other suburbs of note include Banksia Beach in ninth spot and Strathpine just sitting outside the top 10.

Ray White Deception Bay sales agent Lydia Robins said the interstate investors are driving the charge.

“The majority of inquiries we’re getting are from Sydney and Melbourne, a lot of them are moving here for the weather and how we’ve dealt with Covid-19,” she said.

“The other thing is affordability, we’re nice and close to the water.

“You can’t really find a house in any suburb in Sydney or Melbourne under $500,000 this close to the waterfront.”

“It’s definitely our best kept little secret.”

A two-bedroom beach house across from the water at 161 Esplanade South, Deception Bay, was on the market for about $500,000.

Ms Robins said the attraction of the area may come from the fact is hasn’t been too commercialised.

“Deception Bay is Redcliffe’s little sister and it’s definitely going to boom,” she said.

“A lot of investors and homeowners in Deception Bay have waited a very long time for this.”

The sales agent said the sometimes negative stigma surrounding the bay area is slowly changing.

“The Government have been selling a lot of their housing commission properties in Deception Bay,” she said.

“So what’s happening is investors are buying and renovating them and then putting in a higher calibre of tenant or becoming owner occupiers.

“It’s definitely changing and it’s becoming more of a tourist attraction as well.”

There’s good news for unit owners, if you bought in Bellara a decade ago, you would have more than doubled your money with the suburb offering the best capital return for owners.

At 220.9 per cent growth over the past 10 years, the seaside suburb on Bribie Island was the strongest performer across Brisbane and the Moreton Bay.

Scarborough on the peninsula (37.8 per cent), The Gap (37.6 per cent), Margate (30.1 per cent) and Bulimba (38.4 per cent) rounded out the top five.

The laid back suburb outperforming the ritzy St Lucia which didn’t even scrape into the top ten (18.3 per cent).

Sitting about 60km north of Brisbane, Bribie Island is seeing its population swell, and that’s changing the perception of it being nothing more than an isolated retirement village or a school holiday destination.

And a $30 million hotel on its doorstep is helping to attract day-trippers and tourists.

The island, which is 34km long (north to south) and 8km wide, is divided into four suburbs – Bongaree, Woorim, Banksia Beach and Bellara.

New housing developments are helping to draw young families with the numbers reflecting a change of pace for the formerly “sleepy town”.

Units in the Bongaree (20.3 per cent) outperformed those in Brisbane’s inner city (15.6 per cent) and outer lying areas including Hawthorne (18.2 per cent) and Indooroopilly (16.9 per cent)

The impressive results for the Moreton Bay region comes hot on the heels of median house price data released by CoreLogic, which showed more than 30 suburbs across the state hit double digit increases in the past quarter.

Property experts attributing the booming market over the past nine months to interstate migration and lifestyle changes.

Homeowners lucky enough to live in the bay area or in one of Brisbane’s inner suburbs are laughing all the way to the bank after 12 months of sustained price growth.

House prices in the waterside suburbs of Toorbul, Deagon, Redcliffe and Margate all gained more than 20 per cent over the past year.

House prices in waterside suburbs, like this property in Redcliffe are on the rise.

But if you’re an investor looking for a handy rental return, the hottest suburb in the Moreton region is Brendale, on the city’s northside where unit rental yields have been at 6.8 per cent.

Kippa Ring (6.7 per cent) was close behind, followed by Murrumba Downs (6.5 per cent) and Caboolture (6.4 per cent).

Although, Brendale is well-known as an industrial suburb it is growing in popularity with the Eatons Hill Hotel and the South Pine Sports Complex within its boundary.

According to the 2016 census, the Brisbane northside area is now home to more than 2758 people.

Median property prices over the last year in Brendale have ranged from $282,000 for houses to $295,000 for units.

If you are looking for an investment property, the suburb bordering Strathpine and Bald Hills may be the place to go.

Caboolture, sitting in 20th spot for unit rental yields, was originally a quiet town popular with farmers and retirees but the growth in affordable housing in this region has seen this suburb welcome many new families.

Businesses have been quick to capitalise as well on this area’s growth with homemaker centres, mega hardware stores and shopping centres popping up in the outer-suburbs.

Median property prices in the area over the last year range from $412,000 for houses to $241,500 for units.

QM has seen a significant increase in interest from first home buyers at its Elwood Rise and Springbrook communities in the D'Aguilar region, which is just 20 minutes from Caboolture. Pictured is Tracy-Lee Hunter and Murray Griffith, sales managers for DJ Roberts Homes.

Rental demand growth across the Moreton area was steady, according to the REA figures, with growth in several suburbs for both home and unit owners.

For homeowners, Bellmere (5.4 per cent) is leading the way with Bray Park (4.8 per cent) and Bongaree (4.8 per cent) following closely and Banksia Beach at 4.6 per cent.

Unit owners also recorded strong growth, out performing homes with Caboolture at 6.4 per cent, Burpengary (6.2 per cent), Kallangur (5.9 per cent) and Bongaree (5.2 per cent).