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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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Affordable havens The sub $300,000 suburbs on the verge of extinction in Brisbane

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Affordable-havens-The-sub-300000-suburbs-on-the-verge-of-extinction-in-Brisbane

Suburbs with a median house price of $300,000 or less are on the verge of extinction in Greater Brisbane. So, where can you still buy property for that price in 2019?

SUBURBS with a median house price of $300,000 or less are on the verge of extinction across Brisbane.

Figures from property researcher CoreLogic show house prices in some of the city’s most affordable postcodes experienced above average growth over the past year, leading to a drop in sales at lower price points.

Only 1.7 per cent of properties in Brisbane changed hands for less than $200,000 in 2018.

In 2019, there are no longer any suburbs in the Brisbane local government area with a median house price of $300,000 or less.

Affordable-havens-The-sub-300000-suburbs-the-verge-of-extinction-in-Brisbane

Across Greater Brisbane, there are now only 19 mainland suburbs with a median house price under $300,000, whereas there were double that number a decade ago.

The last affordable havens can be found in the Ipswich suburbs of Riverview, Dinmore and One Mile, in the Logan locations of Kingston, Logan Central and Woodridge and in Caboolture South in Moreton Bay.

The median house price in Greater Brisbane is now $532,000, according to CoreLogic.

More than a third of sales in Brisbane during 2018 were between $400,000 and $600,000, while 7.8 per cent were at $1 million or more.

CoreLogic senior analyst Cameron Kusher said that was a drastic change from the state of affairs over the past couple of decades, with the majority of sales in 1993 and 1998 coming in below $200,000.

“Over time, there has been a steady climb in the share of sales across the more expensive price points,” Mr Kusher said.

“While you’d expect this in the markets that have seen strong value growth such as Sydney, Melbourne and Hobart, we have also seen it across markets where value growth has been much weaker.”

Affordable-havens-The-sub-300000-suburbs-on-the-verge-of-extinction-Brisbane

Mr Kusher said that even though he expected slightly more sales to occur at lower price points over the next year, he did not expect any material change in the share of sales under $200,000 — in fact they may reduce even further.

Real Estate Institute of Queensland chief executive Antonia Mercorella said Brisbane still had plenty of affordable suburbs with good quality housing compared to Sydney and Melbourne.

“We have so many affordable options in really high growth suburbs,” Ms Mercorella said.

“They’re not going to run out tomorrow.

“And many are still within a 12km to 15km radius of the city, which is pretty mind-blowing compared with Sydney and Melbourne.”

Affordable-havens-The-sub-300000-suburbs-in-the-verge-of-extinction-in-Brisbane

Ms Mercorella said Brisbane’s affordable havens provided great opportunities for entry level property buyers.

“Many people assume a $300,000 house must be a dump, but that’s just not the case in the southeast corner,” she said.

“Low price does not mean low quality.”

Nick Kruger, principal of Your Haven Realty, said there were still plenty of opportunities for first home buyers to get a foot on the property ladder in Riverview, which has the cheapest median house price in Greater Brisbane.

MORE: Labor’s plan to hit Brisbane rents

Mr Kruger said that he had noticed a shift in the buyer profile in the market as a result of the banks cracking down on lending.

“Predominantly, in the past, investors were snapping up these properties for their SMSF because of the good rental returns,” Mr Kruger said.

“Now the banks have cracked down, that’s incentivising a market change.

“It’s better for owner-occupiers now, because they have a chance to get it over investors.

“But in time, obviously these prices will jump so the sooner you can get in, the better.”

Affordable-havens-The-sub-300000-suburbs-on-verge-of-extinction-in-Brisbane

He is marketing a three-bedroom house at 57 Price St, Riverview, which is currently leased for $290 a week and is on the market for offers over $245,000.

“That’s a good figure for an investor,” Mr Kruger said.

“At that price point, for a three-bedder on a 600 sqm plus block so close to Redbank Plaza and within 5 minutes walk of sought-after schools, I definitely it’s ideal for first home buyers or young families.”

Single parent Telita Webb has rented the home with three of her children for the past year, but would love to buy the property if she could afford the deposit.

“I love the place; Riverview’s my home,” Ms Webb said.

Chris and Tiffany Campbell live in Bundamba, which is one of greater Brisbane’s last affordable havens — just scraping in with a median house price of $292,752.

The couple are renovating a turn-of-the-century Queenslander, which they recently bought for $315,000.

“Bundamba has a bad wrap; I’m not sure why,” Mrs Campbell said.

“The street we live in is so quiet and full of beautiful, old Queenslanders, and you can see the growth potential.

“I think it is one of those places a lot of people forget about.”

They sold another property last year that they had bought and renovated two years earlier in North Ipswich and made more than $100,000 in profit.

we knew going into it and paying price we did in an up andcoming suburb it was going to be a good investment

Affordable-havens-The-sub-300000-suburbs-in-the-verge-of-extinction-in-Brisbane

Propertyology managing director Simon Pressley said Ipswich was becoming a popular location for property investors because of its affordability, solid rental yields and good infrastructure.

But Mr Pressley said he was not convinced the region had the ability to create the volume of jobs required to put pressure on the local labour market and drive property prices significantly higher.

“One could do worse than investing in Ipswich, however, my overall rating of the Ipswich property market is a middle-of-the-road performer for the feasible future,” Mr Pressley said.

THE SUB $300,000 SUBURBS ON THE VERGE OF EXTINCTION IN 2019:

Suburb Region Median house Change in median Change in median

price Mar 2019 12 mths to Nov 2018 5yrs

1. Riverview Ipswich $256,787 -2.3% 13.7%

2. Dinmore Ipswich $259,481 9.0% 35.2%

3. One Mile Ipswich $260,181 0.0% 15.9%

4. Leichhardt Ipswich $264,565 2.1% 22.5%

5. Rosewood Ipswich $273,359 6.9% 19.2%

6. Logan Central Logan $273,541 -3.4% 26.1%

7. Woodridge Logan $274,352 -1.3% 28.1%

8. Basin Pocket Ipswich $275,769 -4.6% 25.6%

9. Ebbw Vale Ipswich $276,599 -6.1% 20.3%

10. Kingston Logan $285,032 -2.4% 24.2%

11. Goodna Ipswich $285,329 -4.1% 10.8%

12. Tivoli Ipswich $292,168 -2.7% 8.6%

13. Bundamba Ipswich $292,752 4% 14.4%

14. North Booval Ipswich $293,058 4.6% 17.9%

15. Caboolture South Moreton Bay $293,517 0.6% 16.2%

16. Gailes Ipswich $293,572 0.7% 11.8%

17. Churchill Ipswich $295,020 1.1% 7.2%

18. East Ipswich Ipswich $297,405 13% 27.1%

19. Wulkaraka Ipswich $299,733 6% 2.6%

(Source: CoreLogic)

Originally published as What $300K will buy you in 2019

Source: brisbaneinvestor.com.au

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Market Place

Queensland Attracts UK Property Seekers

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Queensland Attracts UK Property Seekers

Research by realestate.com.au showed that searches for property in Queensland climbed by nearly a third in December compared to the same period in the previous year. This was driven largely by British people who are flocking to one of the most populous states in the country, according to a report by news.com.au.

The study found that property searches originating from the UK increased 31%, with the Sunshine Coast suburbs of Noosa Heads, Buderim and Mooloolaba as popular picks among potential buyers.

New Farm, Redcliffe and North Lakes, meanwhile, topped the list of the most in-demand suburbs in Brisbane.

Nerida Conisbee, Realestate.com.au chief economist, said Queensland, specifically its beachside properties, held the top spot in terms of total search activity among UK property seekers.

“The Hemsworth impact seems to be impacting the view of Byron Bay with this the most searched by UK property seekers in December 2018 — the number tripling from December 2017,” she said.

Universal Buyers Agents Director Darren Piper said that the chaos surrounding Brexit in Britain was enticing overseas buyers to explore the Australian property market.

“House prices in London have fallen for the fifth quarter in a row. It’s natural for investors to look for safe havens in times of uncertainty,” he said.

Australia’s property market has consistently grown over the past decade, with homes in Sydney, Brisbane and Melbourne reaching record prices.

“It’s the perfect time for people to get their foot in the door and it’s a great time as a homeowner to explore your options, maybe make a move or stay the course,” said Piper.

 

Source: brisbaneinvestor.com.au

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Where it’s cheaper to buy than rent: It’s Ipswich’s time to shine

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Where it’s cheaper to buy than rent It’s Ipswich’s time to shine

SHUT out of the Brisbane market? Don’t despair. You can still bag a bargain in Ipswich as it shakes off its stigma as the city’s poor cousin.

IT HAS played second fiddle to Brisbane for years, but finally, it is Ipswich’s time to shine.

Long regarded as the river city’s poor cousin, the “Switch” has shaken off its stigma and is forging a name for itself as the state’s property bargain capital — where you can get a house for less than your weekly rent.

New figures from realestate.com.au have revealed the suburbs across Queensland where it is now cheaper to buy than rent and eight of the top 20 are in the Ipswich growth corridor.

In Ebbw Vale, where the median house price is $248,500, it works out to be $386 cheaper to own a home in the suburb than to rent one.

cheaper to buy than rent

And in the burgeoning masterplanned community of Ripley, where it costs $1600 a month on average to rent of home, it only costs $1230 a month on average to own one.

It comes as Brisbane’s housing market has recorded its strongest annual rise in rents in three years.

After months of flat growth in rental properties, analysis of the latest CoreLogic data by realestate.com.au shows house rents increased 2.4 per cent in 2018, while the cost of leasing a unit became 2.6 per cent more expensive.

A rare combination of low interest rates, a rising population and fewer investors and new developments is starting to put upward pressure on rents in the sunshine state and industry experts say now is the time for long-term renters to buy.

Realestate.com.au chief economist Nerida Conisbee said the only way was up for rents in the city, as underlying demand in the Brisbane market began to absorb rental supply.

it’s cheaper to buy than rent

Ms Conisbee said she was surprised by the “sheer number of suburbs” in greater Brisbane where it was cheaper to buy than rent.

“There’s quite a large number of them,” she said.

“Now is actually a good time to look to buy because we are looking to see further increases in rental levels.

“The reason being we have fewer new developments going ahead and also fewer investors in the market.”

Caitlin and Bryn Williams decided to buy a home in Ripley when they realised they could pay about the same in loan repayments as they were in rent.

After previously renting in Ipswich, they bought a brand new, four-bedroom house for just over $350,000 in the Ecco Ripley estate, where stage one of the $1.5 billion Ripley Town Centre has just been completed.

“We’re happy not to be renting anymore,” Mrs Williams said.

“What we were paying in rent, we were paying off someone else’s mortgage.”

Where it’s cheaper to buy

Ripley is on track to become Australia’s biggest masterplanned community — home to 120,000 by 2041.

CoreLogic figures show the suburb’s median house price has grown by nearly 20 per cent in the past 12 months.

Mohammad Bassiri of Ray White Springfield Lakes said people were starting to realise it worked out cheaper or just as expensive to buy a home in the Ipswich region as it was to rent one.

Mr Bassiri said a friend of his recently moved from a rental at Springfield Lakes to buy a three-bedroom house at South Ripley for $320,000 because he realised the mortgage repayments were the same as his rent payments.

WHERE IT IS CHEAPER TO BUY THAN RENT IN QLD

Suburb Median house price Monthly loan repayment Monthly rent Difference

1. Lamb Island $110,000 $405 $997 $592

2. Macleay Island $182,000 $669 $1,192 $523

3. Russell Island $165,000 $607 $1,083 $476

4. Kilcoy $272,000 $1000 $1,452 $452

5. Mundoolun $576,000 $2,118 $2,548 $430

6. Laidley $237,500 $873 $1,300 $427

7. Woodford $327,250 $1,204 $1,603 $399

8. Plainland $375,000 $1,379 $1,768 $389

9. Ebbw Vale $248,500 $914 $1,300 $386

10. Ripley $335,000 $1,232 $1,603 $371

11. One Mile $242,500 $892 $1,257 $365

12. Blackstone $314,000 $1,155 $1,517 $362

13. Leichhardt $243,375 $895 $1,257 $362

14. Lowood $251,750 $926 $1,278 $352

15. Brendale $270,000 $993 $1,343 $350

16. Riverview $238,500 $877 $1,213 $336

17. Cedar Vale $498,000 $1,832 $2,167 $335

18. Goodna $310,500 $1,142 $1,473 $331

19. Loganholme $381,900 $1,405 $1,733 $328

20. Redbank $329,000 $1,210 $1,538 $328

(Source: Realestate.com.au)

Originally published as Where it’s cheaper to buy than rent

 

Source: news.com.au

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