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The sun is well and truly shin­ing on the prop­erty mar­ket in the More­ton Bay re­gion.

A re­cent re­port by Hotspot­ting found the re­gion was the third best place to buy prop­erty in Aus­tralia, with ev­ery­thing from ru­ral lots to water­front apartments on the mar­ket.

More­ton Bay of­fers a vast ar­ray of prop­erty op­tions and lo­ca­tions, with semiru­ral Sam­ford the re­gion’s first mil­lion-dol­lar sub­urb.

CoreLogic data shows the me­dian house sales price in the Sam­ford Val­ley has reached $1 mil­lion, with homes in the nearby ru­ral sub­urbs of Camp Moun­tain ($950,000), Cedar Creek ($940,000) and High­vale ($870,000) also show­ing growth. New­port on the Red­cliffe Penin­sula has the high­est me­dian sales price for a water­front sub­urb at $820,000.

Stock­land is con­struct­ing a mas­ter­planned com­mu­nity around a 23ha lake at New­port, which will be home to around 5400 peo­ple.

Mean­while, Beach­mere, which is between Ca­bool­ture and Bri­bie Is­land, posted the big­gest 12 month growth, with me­dian house sales up 43.3 per cent, ac­cord­ing to CoreLogic.

It was fol­lowed closely by Kur­wong­bah, which rose 40.5 per cent.

The More­ton Bay re­gion has ex­pe­ri­enced strong growth, with the pop­u­la­tion in­creas­ing 12.5 per cent between the 2011 and 2016 cen­sus. And that growth shows no signs of slow­ing, with a huge amount of res­i­den­tial and com­mer­cial in­vest­ment in the re­gion. The new Univer­sity Sunshine Coast cam­pus at Petrie is un­der con­struc­tion, with the first stu­dents ex­pected in 2020. The More­ton Bay rail line is open, and nu­mer­ous res­i­den­tial de­vel­op­ers are cap­i­tal­is­ing on the pro­jected growth.

Twenty-nine ac­tive res­i­den­tial projects – the high­est num­ber of projects in the south­east – are in the works, ac­cord­ing to the lat­est Oliver Hume re­port. This comes as the lat­est REIQ re­port re­vealed rental va­can­cies had tight­ened by 0.2 per cent to 1.4 per cent.

“This mar­ket is gen­er­ally a tight mar­ket and it is one of Queens­land’s fastest grow­ing re­gions,” the REIQ re­port found.

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