QUEENSLAND

STANDOUT LOCATION Gold Coast

There has been a dramatic surge in buyer activity in regional Queensland, and the Gold Coast is at the forefront of the revival. Growth markets include Benowa (median prices $1.5 million for houses and $730,000 for units), Broadbeach Waters (medians $2.01 million and $715,000), Burleigh Waters ($1.37 million and $660,000), Merrimac ($820,000 and $600,000).

2023 REVIEWED – Townsville

A year ago we said the dynamic North Queensland city of Townsville had all the credentials for a big year – and there were growth suburbs in 2023 right throughout the city, led by Nelly Bay (up 13% in 12 months), West End (up 18%) and Currajong (up 10%).

The Greater Brisbane market has gone to another level in its recent recovery, following a major surge in buyer demand in the second half of 2023, with 85% of suburbs on the rise. Earlier in the year, many suburbs had declining activity but by year end there were none.

All sectors of the Greater Brisbane market are performing, with the inner precinct emerging increasingly as a leader. Most of the suburbs clustered around the Brisbane CBD have busy markets – a trend evident in all the major cities of Australia, with more buyers opting for apartments.

The Brisbane north precinct is pumping strongly and the neighbouring Moreton Bay region is equally busy, with many buyers seeking affordable options. Similarly, Logan City in the south and Ipswich City in the southwest have also responded to the theme of strong recovery.

There has been a dramatic surge in buyer activity in regional Queensland, converting the recovery observed in mid-2023 into a notable up-cycle.

Some of the key regional centres are now booming markets, while others are in the recovery phase and heading in that direction.

Very few have yet to get on board with the trend of positive markets, with just 13 locations across Regional Queensland classified as declining markets by the Price Predictor Index.

The Gold Coast is leading the regional Queensland revival and the Sunshine Coast is on the recovery path but less advanced than the Gold Coast.

Other regional cities well advanced in the return to growth markets include Cairns and Gladstone.