Population growth and big infrastructure spending in these areas have earned them a place on the list for increased property prices this year.
Property analyst Terry Ryder of hotspotting.com has named his ten best locations for future capital growth.
Queensland figures prominently, with four areas in the list, followed by New South Wales and Victoria with two each, then Western Australia and South Australia, with one location each.
Mr Ryder says the locations are the “pick of the crop’’ and are tipped to outperform the general market.
“These locations are considered to have growth drivers that will achieve capital growth above the norm in the near future,’’ he says.
BRISBANE NORTHSIDE, QLD
The area includes a mix of affordable suburbs and middle-market suburbs, good transport links and is close to major job nodes. Sales volumes are rising in a number of the suburbs.
Typical prices for a house in the area range from $410,000 for a house in Brighton to $536,000 for a house in Nundah.
Mr Ryder says the northern suburbs of Brisbane are “leading the revival of markets across the Brisbane metropolitan area’’.
Tipped for good capital growth by Ryder previously, Cairns is still among his favourites for investment. The area has strong population growth, revival of the tourism industry, increase in overseas flights and major infrastructure spending.
Typical house prices range from $260,000 for a house in Bungalow to $455,000 for a house in Whitfield.
“Cairns is making an economic comeback, with spin-offs for the property market,’’ Mr Ryder says.
“In the 1980s Cairns was one of the stars in the Australian property firmament, boosted by surging tourism and investment from Japan.’’
He says while those glory days had long since faded there were plenty of positive signs Cairns is ready to challenge again, boosted by tourism and investment from China.
CITY OF CANTERBURY, NSW
The City of Canterbury has been one of the standout markets in Sydney’s revival. There has been a major upturn in sales volumes leading to strong price growth. The area is popular for its affordable units.
Mr Ryder says recent changes to Canterbury’s local environment plan are bringing new phase of development on apartments in Canterbury.
Typical house prices range from $570,000 in Lakemba to $948,000 in Earlwood.
CASEY CITY, VIC
The city of Casey is already a key population growth area for Melbourne.
Mr Ryder says it also recently emerged as a property growth market with many suburbs attracting rising sales activity from buyers. He says the Victorian Government’s long-term planning documents identify several suburbs in the city which will play a major role in service delivery and creating employment.
Typical house prices range from $355,000 at Hampton Park to $310,000 in Cranbourne.
Again another region Ryder has tipped for future growth previously. The Redcliffe Peninsula is geographically close to Brisbane but price growth has stagnated for years because there were not adequate transport links.
A long-promised rail connection is closer with the contract awarded in September last year.
Typical house prices range from $351,000 in Margate to in excess of $680,000 at Newport.
ROCKINGHAM CITY, WA
Mr Ryder says the Perth market has moved strongly into a growth phase.
“An area which stands out for its affordability, lifestyle and future prospects is the City of Rockingham,’’ he says. The area, about 50km south of central Perth the area has relatively low prices and small vacancies.
Typical house prices range from $320,000 at Cooloongup to $395,000 at Port Kennedy.
Seaford in the southern seaside suburbs of Adelaide has a good track record of steady price growth.
It is one of South Australia’s strongest population growth areas.
“It’s prospects have grown considerably with the announcement of two pieces of key transport infrastructure, the extension of rail links to the suburb and duplication of the southern expressway which terminates close to Seaford,’’ he said.
Typical house prices start around $336,000 for a house in Seaford, to $380,000 for a house in Seaford Meadows.
SUNSHINE COAST, QLD
The Sunshine Coast market is poised to return to growth for the first time in six years. The market is helped by a number of factors including growth in the tourism industry, balance in supply and demand, price drops have made property more affordable, many fly-in-fly out workers choose to settle on the Sunshine Coast.
House prices typically start at around $320,000 in Nambour to $700,000 in Noosa.
The third largest city in New South Wales has suffered recently from the downturn in the manufacturing industry and job losses at major employer BlueScope Steel.
“But the city has staged a comeback, boosted by a number of major projects.’’
House prices typically start at around $330,000 in Unanderra to $535,000 in Cordeaux Heights.
Original article published at www.news.com.au by Michelle Hele, News Corp Australia, 14/5/2014
Development Update: $67m Springfield Central Sports Complex
A $67 million sporting development in Greater Springfield, an urban growth corridor located south west of Brisbane’s metropolitan area, is on track to open this year.
The developer of Greater Springfield says it is “cementing itself as one of Australia’s super sporting meccas” with its new Springfield Central Sports Complex slated to open to the public mid-year.
The new sporting facility, which neighbours Springfield Central State High School and St Peter’s Lutheran College, also joins the recent announcement of the $70 million Brisbane Lions AFLW stadium announced in January.
Springfield’s current population sits around 41,000 with this figure predicted to triple in size by 2030.
Rewind to 1992, when Greater Springfield founder Maha Sinnathamby purchased the 7000-acre parcel of land — today’s Springfield — which no developer wanted to touch.
Sinnanthamby says the region has a growing student population.
“There are currently 11,000 students in Greater Springfield, with that number expected to grow by 1200 each year moving forward,” the Springfield Land Corporation chairman said.
The developer says Greater Springfield is Australia’s first masterplanned greenfield city since Canberra, and to date it has seen $15 billion worth of infrastructure invested.
“We have a supersized CBD and an employment target of one job for every three residents,” Sinnathamby said.
The new sporting development will feature four ovals, 16 netball courts, eight fields, eight tennis courts, an athletics track as well as clubhouses and playgrounds.
City Deal a $58bn ‘Game Changer’ for Southeast Queensland
South-east Queensland could be green-lit for the biggest “city deal” in Australia, with a $58 billion proposal to guide its growth, and the prime minister announcing his support for the major plan.
With a focus on supporting diverse sectors within the region including housing and planning, tourism, manufacturing and education, the SEQ City Deal could also pave the way for government-owned land to be opened for development.
Queensland deputy premier Jackie Trad this week released Transforming SEQ, which highlights 35 “opportunities” that could be considered as part of the future City Deal, including six “game changers” for the region.
“Modelling by KPMG has shown a SEQ City Deal could stimulate an increase of up to $58 billion in our economy by improving the productivity and competitiveness of the region,” Trad said.
Prime minister Scott Morrison will be meeting with the SEQ Mayors and Queensland government to discuss the proposal this week.
The City Deal, which involves all three levels of government — council, state and federal — would see government working on priorities to drive the SEQ economy.
Under a City Deal plan, all three levels of government sign an agreement to set the priority infrastructure projects and initiatives.
Integrated land-use planning approach?
Property Council chief executive Ken Morrison described the announcement as “a game-changer for the region.
“Our growing cities and urban regions are the engine rooms of the Australian economy,” Morrison said.
“The city deal model brings together all levels of government around the same plan to boost productivity and jobs through targeted investment in city-shaping projects and infrastructure.”
Property Council Queensland director Chris Mountford said the council has been collaborating with state government and SEQ councils for nearly six years on the potential for a city deal.
“The State and local governments have also agreed in principle to a more coordinated integrated land-use planning approach,”
“Opening up under-utilised government-owned land for development has also been agreed as a clear opportunity to unlock economic activity, create jobs and build business confidence.”
The region’s current 3.5 million population is forecast to increase to 5.3 million within the next 25 years, ultimately requiring an extra 800,000 homes and additional one million jobs.
Focus has been placed on the recently released people mass movement study which identifies the impact of the expected population growth on the region’s ability to cope with future transport demand.
Minister for Cities Alan Tudge said he, along with the prime minister, will be meeting with the SEQ Mayors to discuss the Deal.
“We need to cater for this rising population and the SEQ City Deal will be a huge step forward,” Tudge said.
South-east Queensland is already home to over two-thirds of the state’s population.
The region is home to nearly one in every seven Australians.
The agreement marks the second city deal for Queensland following the policy being first established in Townsville.
So far, city deals have been developed for Western Sydney, Townsville and Launceston, and a further four more are currently under negotiation in Adelaide, Hobart, Perth and Geelong.
$63b infrastructure plan to keep SEQ moving till 2041
It’s going to cost $63.7 billion to keep South East Queensland moving over the next two decades, according to a study released today by the region’s mayors.
The population of the region is expected to grow by about 1.8 million people to more than five million people by 2041, putting extraordinary demand on the already strained transport network.
The SEQ People Mass Movement Study lists a total of 47 projects designed to keep city-to-city trips under 45 minutes and urban commutes under 30 minutes, including a faster rail network connecting the Sunshine Coast and Gold Coast via Brisbane and west to Ipswich and Toowoomba.
Brisbane Lord Mayor Graham Quirk said the infrastructure plan, coined the Strategic Transport Road Map, would keep the region “economically productive” while maintaining its liveability.
“Business as normal is not going to work, we need to increase the amount of money that is being spent in South East Queensland,” Cr Quirk said.
He said the plan would require an average expenditure of about $2.7 billion per year until 2041, which he said was “not an unrealistic figure”.
“What we are seeing in Sydney and Melbourne right now is this massive spend on infrastructure. That’s because they allowed it to get too far behind. We cannot do that in South East Queensland.”
He said there had been no shortage of plans for the region’s transport network, but it was time for all levels of government to unite with a shared vision.
Redland City mayor Karen Williams said the plan delivered the projects over a “reasonable amount of time with a reasonable amount of investment”.
“It’s not a matter of ‘can we afford this?’ It’s the fact that we can’t afford not to do it,” Cr Williams said.
Faster Rail is not as fast as high speed rail, which delivers speeds up to 350km/h, but could run at about 160km/h with top speeds of up to 200-250kmh, with limited stops.
It would be connected to the light rail networks on the Gold Coast and Sunshine Coast in order to ease congestion on major arterials.
Other projects include the Brisbane Metro, Cross River Rail and road upgrades, including the Pacific, Sunshine, Centenary, Ipswich and Logan motorways and the Bruce, Warrego and Mt Lindesay highways.
The study also took into account emerging technologies including autonomous vehicles.
It was first proposed in 2016, and began in September 2017, with the aim of bringing together multiple local, state and national transport studies into one cohesive plan.
The South East Queensland region takes in the Brisbane City, Ipswich City, Lockyer Valley Regional, Logan City, Moreton Bay, Redland City, Scenic Rim Regional, Somerset Regional, Sunshine Coast and Toowoomba Regional council areas.