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Brisbane’s population picks up, but more people moving to Pimpama

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Brisbane’s population picks up, but more people moving to Pimpama

Brisbane’s population hit 2.4 million in June 2017, according to ABS figures.Source:Supplied

BRISBANE is back among Australia’s fastest-growing cities thanks to a growth spurt, but more people are flocking to areas outside the state’s capital.

New figures from the Australian Bureau of Statistics show the city’s population grew by 48,000 in the year to June 2017 to hit 2.4 million — the fastest rate of growth in four years.

Brisbane’s population picks up, but more people moving to Pimpama

Suburban homes in Brisbane’s southwest.Source:News Corp Australia

In Brisbane, net overseas migration was the biggest contributor to the surge, with 38 per cent of the population growth coming from overseas.

Births accounted for 37 per cent of the growth, while interstate migration accounted for 25 per cent.

The fastest and largest-growing area in Queensland is Pimpama on the Gold Coast, which grew by 3000 people or 31 per cent in 2016-17.

Brisbane’s population picks up, but more people moving to Pimpama
An aerial shot of Pimpama on the northern end of the Gold Coast. Picture: skyepicsaerialphotography.Source:Supplied

Net internal migration was the main driver of growth, accounting for almost 90 per cent of population change.

Other areas to experience significant population growth include Jimboomba on the southern outskirts of Brisbane, North Lakes-Mango Hill in the Moreton Bay region, Coomera on the Gold Coast and Springfield Lakes in Ipswich.

 Brisbane’s population picks up, but more people moving to Pimpama

Springfield Lakes has experienced strong population growth, according to the ABS.Source:News Limited

Ripley in Ipswich, the inner Brisbane suburb of Newstead and Peregian Springs on the Sunshine Coast were the fastest growing areas in the state in 2016-17.

ABS demography director Anthony Grubb said the latest population estimates were the first to include data on the components driving population growth in capital cities and regions.

“It is now possible to not only see how much population is changing in an area, but to understand why this change is occurring”, he said.

Michael Matusik, director of independent property advisory Matusik Property Insights, believes Queensland’s improving population growth should impact house prices, but it hadn’t so far because the state’s economy also needed to improve.

Brisbane’s population picks up, but more people moving to Pimpama

Houses in Ipswich, where areas like Springfield and Ripley are experiencing strong population growth.Source:News Limited

Mr Matusik told The Courier-Mail Pimpama’s population was growing at a rate he didn’t believe was sustainable.

“It’s a reflection of where land supply is on the Gold Coast at the moment and I think that will calm down,” he said.

“But if the Gold Coast is going to continue expanding, those areas will become more like North Lakes in due course.”

Sydney’s population grew by just over 100,000 people in one year for the first time, taking that city’s total numbers to 5.1 million.

Australia’s big east coast cities carried most of the growth — Melbourne, Sydney and Brisbane accounted for over 70 per cent of Australia’s population increase.

Darwin, Adelaide and Perth grew at 1 per cent or less.

TOP FIVE POPULATION GROWTH AREAS IN QLD

Suburb Population change 2016-17 Population as at June 30, 2017

1. Pimpama, Gold Coast 30.8% 12,586

2. Jimboomba 7.9% 28,639

3. North Lakes-Mango Hill 6.7% 33,225

4. Coomera 10.3% 15,227

5. Springfield Lakes 8.7% 17,468

(Source: ABS)

Source: www.news.com.au

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Top 68 suburbs for growth in Queensland revealed

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Top 68 suburbs for growth in Queensland revealed

Top 68 suburbs for growth in Queensland revealed. New data has shown the top 68 suburbs in Queensland for capital growth over the last 12 months to June, with the number one spot reaching triple digits.

Top 68 suburbs for growth in Queensland revealed

Outlined in the Real Estate Institute of Queensland’s Queensland Market Monitor report, REIQ CEO Antonia Mercorella said despite the ‘doom and gloom’ of the property market, there are still locations that are seeing large gains in profitability.

“A total of 68 suburbs throughout Queensland have delivered double-digit growth over 12 months, which is a really strong result,” Ms Mercorella said.

“And there are many more suburbs delivering strong single-digit growth. It’s a great market to be in at the moment.”

While south-east Queensland saw a lot of attention, there were some high growth suburbs found in central and northern Queensland.

The area with the strongest growth was Blackwater, which saw a rise of 151 per cent growth, which Ms Mercorella attributed to the resurgence of coal prices.

Aside from Blackwater, 10 other suburbs saw growth over 20 percent. These included:

  • Spring Mountain with growth of 103.6 per cent;
  • Collinsville with growth of 46.2 per cent;
  • Minyama with growth of 45.8 per cent;
  • Hamilton with growth of 32.9 per cent;
  • Hollywell with growth of 30.5 per cent;
  • Miles with growth of 23.5 per cent;
  • Mount Coolum with growth of 21.9 per cent;
  • Dundowran beach with growth of 21.5 per cent;
  • Boonah with growth of 21.3 per cent; and
  • Idalia with growth of 21.3 per cent.

Ms Mercorella said the top 11 suburbs were indicative of steady growth across the state, but warned against calling it a ‘boom’.

“While we’re definitely seeing prices come back in western Queensland mining towns, such as Blackwater, these prices are still below their peak,” she said.

It’s unlikely we’ll see a return to pre-2013 prices in those areas anytime soon.”

South-east Queensland

While the top 11 suburbs show a spread of high growth suburbs through the state, 41 suburbs out of the 68 are located in the ever-popular south east corner of Queensland.

Of these, 15 suburbs were located in the Sunshine Coast region, with the highest growing being Minyama, which ranked fourth overall.

The Brisbane region also saw a large number of high performing suburbs at 13. Hamilton was the region’s best performer and fifth overall.

Next was Ipswich with six suburbs, then the Gold Coast with four, Moreton Bay with three, while Redland and Logan suburbs did not rank.

Regional Queensland

Outside of south east Queensland, 27 regional suburbs ranked on the list, with the Townsville region recording four suburbs. Its highest performer was Idalia, which ranked 11th overall.

Next were the Cairns and Gympie regions, both recording three suburbs each. Cairns’ top performer was Palm Cove, which ranked 26th overall, while Cooloola Cove was Gympie’s top performer, which ranked 42nd overall.

While only recording one suburb, the Whitsunday region’s Collinsville ranked third overall.

The Bundaberg and Toowoomba regions both recorded two top suburbs, while the Banana, Charters Towers, Fraser Coast, Gladstone, Isaac, Livingstone, Mackay, Rocky, Scenic Rim, Somerset and Western Downs regions all had one top suburb each

The top 68 suburbs which experienced double digit growth over the last year to June 2018, according to the REIQ, are:

RankSuburbMedian priceCapital growth over 12 months (as a percentage)
1Blackwater$94,250151.3%
2Spring Mountain$450,000103.6%
3Collinsville$95,00046.2%
4Minyama$1,310,00045.8%
5Hamilton$1,442,00032.9%
6Hollywell$810,00030.5%
7Miles$148,25023.5%
8Mount Coolum$670,00021.9%
9Dundowran Beach$607,00021.5%
10Boonah$324,50021.3%
11Idalia$485,00021.3%
12Rasmussen$347,50019.9%
13Yaroomba$749,00019.7%
14Biloela$272,75018.6%
15Burnett Heads$317,00018.1%
16Tivoli$295,00018.0%
17Cashmere$690,00018.0%
18Walloon$370,00016.7%
19Sunshine Beach$1,400,00016.7%
20Noosa Heads$1,070,00016.0%
21Hope Island$739,75015.7%
22Ripley$374,00015.4%
23Sandgate$705,00015.2%
24North Ward$575,00015.0%
25Paddington$1,150,00014.7%
26Palm Cove$606,00014.3%
27Charters Towers City$142,50014.0%
28Pelican Waters$761,00013.9%
29Cooee Bay$313,00013.8%
30Mount Ommaney$944,00013.7%
31Fernvale$357,50013.5%
32The Range$380,00013.4%
33Landsborough$432,50013.4%
34Sunnybank$832,50013.3%
35North Mackay$270,00013.2%
36Whitfield$540,00013.1%
37Graceville$932,50013.0%
38Hendra$1,100,00012.7%
39Shorncliffe$840,00012.4%
40Moranbah$185,00012.1%
41Coes Creek$442,50012.0%
42Cooloola Cove$317,50012.0%
43Battery Hill$578,00012.0%
44Seven Hills$940,00011.9%
45Nundah$755,00011.9%
46Monkland$240,00011.6%
47Bongaree$470,00011.6%
48Clifton Beach$557,50011.5%
49Maroochydore$639,00011.2%
50Twin Waters$823,00011.2%
51Cambooya$322,50011.2%
52Tewantin$572,50011.2%
53Coolum Beach$675,25011.2%
54Kedron$744,50011.1%
55Sunrise Beach$820,00011.0%
56Oakey$241,50011.0%
57D’aguilar$416,00010.9%
58Mountain Creek$610,00010.9%
59Flinders View$371,50010.9%
60Highland Park$570,00010.7%
61Rosewood$291,00010.7%
62Bulimba$1,300,00010.6%
63Kirkwood$353,50010.5%
64Woodgate$402,50010.3%
65Railway Estate$309,50010.1%
66Auchenflower$1,070,00010.0%
67Rainbow Beach$489,50010.0%
68Ormeau Hills$530,00010.0%

Source: brisbaneinvestor.com.au

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Real estate market in southeast Queensland has made a comeback since the GFC

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queensland tourist
queensland tourist

While the property market has come back on the Sunshine Coast, there are still some bargains to be had. Picture: Lachie MillardSource:News Corp Australia

LAST week with the family in tow, we ventured up the Bruce Highway to the Sunshine Coast.

I was calling auctions at Maroochydore for a number of offices on the coast, so we decided to mix business and pleasure and make a holiday out of it.

It was no small auction event either. The offices had amassed 66 properties from entry level units, canal front homes and even beach front penthouses!

I was calling the auctions with my regular coastal auctioneering partner Dan Sowden, principal at Ray White Maroochydore and the day was decorated with highlights.

But the value on the Sunshine Coast, and again the Queensland market, for me was an absolute stand out.

Bidding on one apartment in particular, 119/223 Weyba Rd, Noosaville, paused at $85,000. It’s a studio apartment and while it wasn’t sitting next to, Sails, on Hastings Street, it’s not in the middle of nowhere either.

I couldn’t believe the numbers I was calling out. When no one pushed beyond $85,000 we made the recommendation to pass the property in and I see it’s now listed at $102,000. Unbelievable!

queensland tourist

119/223 Weyba Rd, Noosaville is now listed for $102,000. Picture: realestate.com.auSource:Supplied

We also sold the million dollar plus penthouses and the glamour properties too. It took us about six hours and the event was filled with excitement and drama.

But it’s the value story that I think will surprise many people, it certainly surprised me.

The Sunshine Coast has a relaxed holiday lifestyle, it has amazing beaches and world class restaurants.

So with all that on offer there will always be multimillion-dollar homes on the Sunshine Coast, but sub $100,000 properties, even sub $300,000 properties are a genuine reality for the discerning buyer

Every school holiday, and as we step closer to Christmas, many Aussie’s will do what we did this week and head to the beach. They will likely have had to pay a peak season rate for their accommodation and quite often that can spark the idea of buying a holiday house.

The Sunshine Coast was one of the hardest hit markets in the GFC, this impact is still showing value today. If the dinner table conversation involves a coastal retreat, before you squash it on account of affordability, I’d head to realestate.com.au or grab a copy of the Sunshine Coast Daily, you too might be surprised by the value, there appears to be property for all budgets.

Originally published as Coast tourist hot spot where bargains can be found

Source:www.news.com.au

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Where you can rent in Brisbane for only $400 a week

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rent in brisbane

While renters in southern capitals such as Sydney and Melbourne worry about how to pay each week – let alone how to save a home deposit – Brisbane tenants can affordably rent within cooee of the city.

Domain Group data shows that there are 14 suburbs in the Brisbane City Council area with median rental prices of just $400 per week.

While renting an affordable unit can see you living within a couple of kilometres of the CBD, middle-ring houses in suburbs such as Upper Mount Gravatt and Oxley can also be leased affordably, according to the data.

brisbane rent
Mount Gravatt, on Brisbane’s south side, is one suburb where you can rent a house for $400 a week.

Real Estate Institute of Queensland (REIQ) CEO Antonia Mercorella said Brisbane offered tenants the “best of both worlds” due to the affordability of desirable rental locations.

“Probably one of the strongest benefits is that you don’t have to go very far from the CBD to reach an affordable price point,” she said.

“Suburbs such as Bowen Hills, Cannon Hill, Kelvin Grove, Morningside and New Farm are all well serviced by public transport and are all within five kilometres of the CBD – you would never get that in Sydney or Melbourne.”

Some of the suburbs have more than just proximity to the city to offer, she said.

rent in brisbane
Morningside, in Brisbane’s east, offers great value for tenants.

Kelvin Grove has some of Brisbane’s best schools and is very well serviced with public transport options, Ms Mercorella said.

“Springfield Lakes is one of the most popular new areas, and at the last Census was one of our fastest growing regions in Australia,” she said.

“It is a master-planned community that offers families a lifestyle option – lakefront living with a community feel.

“Morningside is a suburb in transformation, with a number of new small-lot developments renewing the area. It is also a suburb in close proximity to the prestige Hawthorne and Bulimba pocket at more affordable prices.”

Ray White New Farm’s Haesley Cush said inner-city tenant demand continued to grow strongly, with unit rental prices softer due to the ample supply of new apartments that had hit the market.

rent in brisbane
Tenants have the upper hand these days in Brisbane – a positive side effect of the apartment oversupply.

“Developers were so intent on letting out their properties because they had rental guarantees … that incentives came into the rental market for residential property for the first time in as long as I can remember,” he said.

“That put downward pressure on mum and dad investors with older units to compete with a brand-new unit where the developer not only has a better product in a lot of ways, but they were also offering incentives.”

Mr Cush said the new competition resulted in rents falling by about 30 per cent in New Farm. Lower interest rates were lessening the financial impact on landlords, however.

With supply of new units still high, most landlords were opting to retain their existing tenants and slowly increase the rent over time rather than take a punt on the open market, he said.

rest in brisbane
Brisbane’s median rent price is $400 a week.

Mr Cush said southern buyers and renters were starting to stake their claim on the Brisbane rental and sales markets.

“I do think they won’t return once they get up here. The weather is better, school fees are cheaper, and it’s not the compromise in lifestyle for the difference in price,” he said.

“It does have less people, you don’t get as good a meal on a Monday, Tuesday or Wednesday, and you can’t dine after 9.30pm still in most places, but for what is in some cases half the rent and sales price, we’re not talking about half the lifestyle.”

Source: www.domain.com.au

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