Revealed: Qld’s Top 10 spots to watch this spring selling season
The top spots to watch this spring selling season have been revealed, and they range from a major military town to a bayside suburb dubbed ‘Brisbane’s own Mornington Peninsula’.
The top spots to watch this spring selling season have been revealed, and they range from a major military town to a bayside suburb dubbed ‘Brisbane’s own Mornington Peninsula’.
Buoyed by rising prices, low vacancy rates, affordable housing options, booming infrastructure programs and diverse economies, each one has been earmarked for price growth.
Terry Ryder, the author of the Hotspotting report, has listed his picks for property watchers to consider in the coming months, but admits there are many other worthy contenders across the state.
In regional Queensland, Mr Ryder said Toowoomba, the Sunshine Coast Hinterland, Bundaberg, Townsville and Maryborough had all of the ingredients needed for growth.
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For Brisbane, the property expert is tipping the Redcliffe Peninsula, Ipswich City, Logan City, the Moreton Bay Region and Redland City.
“When it comes to buying, and future capital growth, you look at the basics – existing and planned infrastructure, amenities and good schools, employment nodes,” he said.
“A lot of people tend to think everyone works in the city, but that’s just not true, and even more so now with people able to work remotely.”
Mr Ryder said that Queensland’s property powerhouses – the Gold Coast and Sunshine Coast – were no longer featured in the report because, as he put it, the “best time to buy has probably gone”.
But he said there were other regions, like Toowoomba, that were set to benefit from the same kinds of infrastructure investment, and with investment comes jobs and more people moving to the area.
“A massive program of infrastructure development is poised to propel the important regional city of Toowoomba on to the national stage – with a rising real estate market an inevitable consequence,” the report said.
The Sunshine Coast Hinterland is another area to watch, Mr Ryder said, adding the region offered more affordable housing options but was still “within striking distance” of the beaches, employment hubs and other amenities.
Up north, Townsville is powering ahead after years in the real estate doldrums, and is now basking in record low vacancy rates, rising prices and jobs growth.
“The next five years, at least, will be much stronger for Townsville,” Mr Ryder said.
“It has plenty of projects underway or planned, so that means jobs, and it is affordable, so it will attract downsizers, upgraders, first home buyers and investors.”
Keyes & Co Townsville principal Damien Keyes said confidence had returned, and while there was still room to move in terms of prices, there was a feeling that Townsville was “finally in a position to recover spectacularly”.
“Finally the pieces are falling into place,” he said.
In Brisbane, the addition of the Redcliffe Peninsula in its own right, and not just lumped in with the Moreton Bay Region as a whole, is a strong nod to the lure of the once sleepy bayside town.
“I think Redcliffe’s time to shine is here,” Mr Ryder said. “It is such an obvious beneficiary of the exodus to affordable lifestyle.
“In Melbourne, the biggest beneficiary is the Mornington Peninsula and you could say Redcliffe is the Brisbane equivalent.”
Ray White Redcliffe agent Ben Campbell said the secret was out.
“It (Redcliffe) used to be a retiree suburb but there are a lot of families, first home buyers moving in,” he said.
“Where we used to be happy with five to 10 groups at an open home, now it is 20 to 30.
“The rail line helped but there is also gentrification happening, with blocks being split, modern homes going up. Land is becoming more valuable.”
It is for similar reasons why Redland City made the list, with Mr Ryder adding it had been “oddly under-rated”.
But Mr Ryder urged buyers to act sooner rather than later, adding that even with more listings likely during the traditional spring selling season, they would still struggle to keep up with demand.
He said that with Brisbane to host the 2032 Olympics, and many venues expected to be used across the state, Queensland was “on the cusp of a big growth phase”.
“The last big focus on Queensland was the Commonwealth Games (Gold Coast, 2018) and before that was Expo ‘88 and the Commonwealth Games in 1982 (both in Brisbane), and those events were pivotal,” he said.
“People used to joke that Brisbane was just a big country town, but with the Olympics, it will go from a capital city to an international city, and with that comes lots of investment.
“It will put a huge focus on Queensland, as a tourism destination and as a place to live.
“A decade may seem like a long time but it will fly by, and every one of those years will see lots of new things being built, with people coming to Brisbane to fill those jobs and creating demand for property, both rentals and homes.
“That will only put more upward pressure on prices so yes, the time to act is now.”
***
WHAT THE REPORT SAYS:
BRISBANE
Redcliffe
The Peninsula is a logical beneficiary of the exodus to affordable lifestyle trend sweeping
Australia. It offers inexpensive bayside living, with steady improvement in amenities.
Ipswich City
The most affordable part of the Greater Brisbane market is Ipswich City, which also offers good infrastructure, major jobs nodes and new masterplanned communities.
Logan City
The suburbs of Logan City are surging, helped by demand from interstate buyers. The region
offers affordability, great infrastructure and a location between Brisbane and the Gold.
Moreton Bay Region
This region has its strongest market in six years. Most suburbs have strong uplift in sales activity. The new university will supercharge markets in nearby suburbs.
Redland City
As the focus turns to areas that offer lifestyle at affordable prices, the suburbs in the bayside east of Brisbane are becoming more popular. Vacancy rates are ultra low.
REGIONAL QUEENSLAND
Toowoomba
Australia’s second-largest inland city is on the cusp of a major revival, boosted by new infrastructure including the Inland Rail Link and Wellcamp airport.
Sunshine Coast Hinterland
The Sunshine Coast seaside strip has been a growth market for 2-3 years, but now the
region’s hill change towns are attracting big demand for capital city buyers.
Bundaberg
This strategic city flies under the radar of many investors but has good prospects: a diverse economy, a $1.5 billion hospital, an attractive lifestyle and affordable homes.
Townsville
Townsville is an economy and property market poised for growth, boosted by over $25
billion in investment. It has affordable prices, high yields and very low vacancy rates.
Maryborough
As the Hervey Bay region attracts buyers seeking an affordable lifestyle, the inland town of Maryborough offers an option underpinned by a diverse and growing economy.
(Source: Hotspotting by Ryder)
Originally published as Revealed: Qld’s Top 10 spots to watch this spring selling season
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