North is hot for property

The Courier-Mail - Property - - NEWS -

QUEENS­LAND has four of the top 10 lo­ca­tions tipped for strong res­i­den­tial property price growth this year.

The lat­est Hotspot­ting re­port on the 10 best lo­ca­tions for fu­ture cap­i­tal growth names Bris­bane’s north­ern sub­urbs, Redcliffe, Cairns and the Sun­shine Coast as worth­while ar­eas to in­vest in.

Re­port au­thor Terry Ry­der said ar­eas with strong pop­u­la­tion growth and in­fra­struc­ture de­vel­op­ment were the ones to watch.

Mr Ry­der tipped Bris­bane’s north­side as a strong per­former as it in­cluded a mix of af­ford­able sub­urbs and mid­dle-mar­ket sub­urbs.

He said the north­ern sub­urbs of Bris­bane, be­tween 8-21km from the city, were “leading the re­vival’’ of mar­kets across the Bris­bane met­ro­pol­i­tan area.

The area in­cluded sub­urbs such as As­p­ley, Brighton, Carsel­dine, Cherm­side, Clay­field, Ever­ton Park and Nundah.

Mr Ry­der said the area had good trans­port links, was close to ma­jor job nodes and the air­port and sea port.

“There are sev­eral lo­ca­tions through­out Bris­bane north­side which of­fer af­ford­able houses priced at less than $400,000,’’ the re­port said.

“Deagon, Strath­pine, Taigum and Zillmere fall into this cat­e­gory.’’

Cairns, which has been tipped by Mr Ry­der to have good cap­i­tal growth pre­vi­ously, re­mained high on his list.

He said the area was mak­ing an “eco­nomic come­back’’ which would re­sult in spin-offs for the property mar­ket.

“Hav­ing been hit hard by the global fi­nan­cial cri­sis, which re­duced over­seas tourist num­bers on which the Cairns econ­omy largely de­pends, Cairns has re­cently shown signs of eco­nomic re­vival,” he said.

Redcliffe in the More­ton Bay re­gion is also on the top 10 list.

Mr Ry­der said that with the long-promised rail con­nec­tion now closer to hap­pen­ing, the property mar­ket on the Redcliffe Penin­sula should feel the ben­e­fits.

He said the area still had af­ford­able prop­er­ties and a laid­back at­mos­phere of a bay­side vil­lage.

“Most of the sub­urbs on the Penin­sula have a long-term growth aver­age of 3 per cent to 4 per cent per year for houses, which is be­low par for the Bris­bane met­ro­pol­i­tan area, but ex­pected to im­prove in com­ing years,” he said.

“There are good op­por­tu­ni­ties to buy well in the Penin­sula apart­ment mar­kets fol­low­ing re­cent re­duc­tions in me­dian prices.’’

Mr Ry­der pre­dicted the Sun­shine Coast was also poised to re­turn to growth for the first time in six years.

“The mar­ket is be­ing helped by mul­ti­ple fac­tors,’’ he said.

“The tourism in­dus­try is stronger, the mar­ket is more bal­anced in terms of sup­ply­de­mand, price de­cline has made property more af­ford­able, apart­ments are in­creas­ing in pop­u­lar­ity with both home­buy­ers and in­vestors.

“A sig­nif­i­cant up­turn in the num­ber of home sales in 2013 points to solid price in the near fu­ture, as does the tight rental mar­ket through­out the coastal strip.’’

Glenn Blake has re­cently bought in Scar­bor­ough in the ben­e­fi­cial Redcliffe Penin­sula area.

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