Southeast Queensland suburbs among best in state for price growth
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Nov 15, 2018
Southeast Queensland suburbs among best in state for price growth
Data from industry body the Real Estate Institute of Queensland (REIQ) and CoreLogic reveals the highest growth suburbs in Queensland.
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Century 21Pictured: 45 Witta Circle, Noosa Heads. Under offer by David Conolly and Adam Watts of Century 21.
New data from the REIQ reveals almost 70 Queensland suburbs delivered double-digit growth over the 12 months to June this year, with some suburbs up by as much as 151 per cent.
REIQ CEO Antonia Mercorella says the results go against the 'doom and gloom' headlines.
“A total of 68 suburbs throughout Queensland have delivered double-digit growth over 12 months, which is a really strong result,” she said. “And there are many more suburbs delivering strong single-digit growth. It’s a great market to be in at the moment.”
A whopping 41 suburbs in the southeast corner dominated the list of top performers for capital growth in Queensland, comprising 60 per cent of the 68 suburbs that made the list
Suburbs in the Sunshine Coast ranked highly, backed up by recent data from CoreLogic showing the top five highest growth suburbs in Queensland were all located in the region.
Source: CoreLogic
Local agent Jodie Hedley-Ward of McGrath Caloundra says the lifestyle is a major drawcard for interstate buyers.
"I think the Sunshine Coast is set to be one of the most resilient and desirable markets nationally in the coming 12-18 months and we are seeing that already by the number of buyers relocating from NSW and VIC in particular right now," Ms Hedley-Ward told WILLIAMS MEDIA.
"The sunshine is a huge drawcard of course, but the quality of life and the value for money on offer is hard to beat."
The regional town of Blackwater in the Central Highlands Region recorded a staggering 151 per cent growth - the highest rate of growth in the state.
"This is a result of the resurgence in coal prices and the low base starting point,” Ms Mercorella told WILLIAMS MEDIA.
“This spread of suburbs is a good indication that Queensland real estate is delivering steady sustainable growth across the board. We’re seeing growth outside the southeast corner,” Ms Mercorella said.
But Ms Mercorella cautioned against celebrating another ‘boom’.
“While we’re definitely seeing prices come back in western Queensland mining towns, such as Blackwater, these prices are still below their peak. It’s unlikely we’ll see a return to pre-2013 prices in those areas anytime soon,” she said.
Hamilton, which made CoreLogic's list of most expensive suburbs in Queensland, was ranked fifth in the state for growth, and the strongest suburb in Brisbane LGA.
House prices in Hamilton increased 32.9 per cent for the past year, to $1,442,000.
The results came as no surprise to local agent Ivo Kornel, who says the Brisbane property market is coming alive.
“It’s been one of those cities that has always been considered a big country town. The amount of infrastructure, development, and investment; whether local, national or international, is putting Brisbane on the map. The climate is amazing, you have the north and south coast,” Mr Kornel told WILLIAMS MEDIA.
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