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Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

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Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

Andrew Galloway is selling his investment property in Loganlea, which has been identified as one of Queensland’s most affordable growth suburbs. Image: AAP/John Gass.Source:News Limited

THESE are the best performing cheapie suburbs in Queensland. Find out which areas buyers on a budget should be targeting.

QUEENSLAND’S best growth suburbs for buyers on a budget are in lifestyle locations and affordable hot spots in Brisbane’s backyard, a new report has revealed.

For an investment property under $500,000 and with good capital growth prospects, look no further than Palm Beach on the Gold Coast, Noosaville on the Sunshine Coast and Loganlea, south of Brisbane, where values have increased by up to 20 per cent in 12 months.

The Top Affordable Suburbs Report, released by researcher CoreLogic, identifies suburbs where property values are below half a million dollars and have shown strong capital growth.

These suburbs are good targets for entry-level buyers, offering affordable real estate, improving infrastructure and strong track records that suggest ongoing strength.

Palm Beach holds the number one spot as the most affordable for capital growth in the state, according to the report.

Unit values in the beachside enclave have jumped 20.2 per cent in the past 12 months and more than 52 per cent in five years to a $471,758 median.

But you can still snap up a two-bedroom apartment a few streets back from the beach there for $379,000.

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This two-bedroom apartment at 3/2 Brooke Ave, Palm Beach, is for sale for $379,000.Source:Supplied

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This two-bedroom apartment at 3/2 Brooke Ave, Palm Beach, is for sale for $379,000.Source:Supplied

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

Inside the apartment at 3/2 Brooke Ave, Palm Beach.Source:Supplied

After Palm Beach, the second most affordable growth suburb in the state is Noosaville on the Sunshine Coast, where unit values have gained more than 14 per cent in the past year to reach $486,468.

Alexandra Headland is also in the top 10 list compiled by CoreLogic, with units in the beachside suburb increasing in value by more than 12 per cent in a year.

But you can still get a two-bedroom unit with ocean views in the suburb for $429,000.

GOLD MINE FOUND IN BRISBANE BACKYARD

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This two-bedroom unit in Camfield St, Alexandra Headland, is available for $429,000.Source:Supplied

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This Alexandra Headland apartment is for sale for $429,000.Source:Supplied

CoreLogic senior research analyst Cameron Kusher said first home buyers were still active in Queensland and the more affordable end of the market was not facing the same pressures as the more expensive suburbs, which explained why suburbs like Loganlea, Ripley and Jimboomba were performing well.

“We are finding the lower end of the housing market is the higher value stock — even in Brisbane,” he said.

“We might not see the same gains over the next 12 months or three years, but there’s still going to be demand in these affordable markets.”

The latest CoreLogic home value figures reveal a strengthening of affordable and lifestyle locations, particularly on the Sunshine Coast, which recorded a 5.5 per cent increase in home values in the past financial year.

HOME FIT FOR HARRY AND MEGHAN

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

Waterfront properties at Witta Circle in Noosa Heads on the Sunshine Coast.Source:News Corp Australia

Mr Kusher said the Gold Coast housing market was starting to cool off, but demand was still strong for the Sunshine Coast.

“These people from Sydney and Melbourne who want to buy a holiday property are looking at these areas and seeing pretty good value,” Mr Kusher said.

“I think that’s where the buyers are coming from.”

In Loganlea, about 25km south of Brisbane, house values have increased more than 14 per cent in the past year to a still very affordable $391,469.

Andrew Galloway is selling his investment property, which is on the market for just $339,000.

The four-bedroom, two-bathroom brick house at 10 Starling St, Loganlea, has been returning about $345 a week in rent.

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This four-bedroom house at 10 Starling St, Loganlea, is on the market for just $339,000.Source:Supplied

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

Inside the house at 10 Starling St, Loganlea.Source:Supplied

Mr Galloway said the property had recorded solid capital growth in the past 11 years he had owned it and he had decided to take advantage of that.

“I think it’s achieved the capital gain it’s going to achieve in the time frame I’m going to have it,” he said.

Mr Galloway said he had noticed gentrification in and around the street in the past decade, which had made it more appealing.

Selling agent Pamela Anemaat of Raine & Horne Beenleigh said there had been an increase in large blocks in the suburb being subdivided by developers offering house and land packages, which had helped generate interest, particularly from first home buyers.

Mrs Anemaat said Loganlea was also popular suburb for investors because it was a high rental area and still so affordable.

“It is a feast for southern buyers, and they are moving up here and purchasing up here because they just can’t afford to buy a new home down there,” she said.

QLD’S 10 BEST PERFORMING AFFORDABLE SUBURBS

Suburb Property type Median value Value change Value change

12 mths 5 yrs

1. Palm Beach Units $471,758 20.2% 52.2%

2. Noosaville Units $486,468 14.4% 36.9%

3. Loganlea Houses $391,469 14.3% 43.8%

4. Mudgeeraba Units $399,637 13% 37.8%

5. Alexandra Headland Units $397,297 12% 36.6%

6. Ningi Houses $458,469 9.2% 11%

7. Jimboomba Houses $494,933 9.1% 22.1%

8. Ripley Houses $391,736 8.7% 23.9%

9. Elanora Units $372,760 8.6% 29.7%

10. Narangba Houses $493,418 8.3% 26.9%

(Source: CoreLogic, based on data to March 2018)

Source: brisbaneinvestor.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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