Wor­thy of the top 10

Three Gold Coast suburbs are on the win­ners’ list of post­codes be­ing sought out by up­graders

Weekend Gold Coast Bulletin - Property - - FRONT PAGE - WORDS ALEISHA DAW­SON

HOPE Is­land, Miami and Palm Beach are the only Gold Coast suburbs to make the top 10 suburbs for up­graders in south­east Queens­land.

This is ac­cord­ing to RiskWise Prop­erty Re­search CEO Doron Pe­leg, who says the re­gion presents good medium and long-term in­vest­ment op­por­tu­ni­ties.

“This is due to a num­ber of fac­tors in­clud­ing good in­ter­nal mi­gra­tion to the re­gion cre­at­ing an in­crease in de­mand for houses,” Mr Pe­leg said.

“Also, the area is very af­ford­able com­pared to Syd­ney and Mel­bourne, par­tic­u­larly when tak­ing a long-term view.

“What we are see­ing is a mar­ket with good pro­jec­tions. You won’t see a red-hot mar­ket with dou­ble digit growth, but you will see, over­all, a bal­anced mar­ket be­tween buy­ers and sell­ers with some small pock­ets lean­ing to­wards sell­ers in high-de­mand ar­eas.

“Usu­ally, you won’t see peo­ple pay­ing in­flated prices.”

He said with the Queens­land Gov­ern­ment tak­ing sig­nif­i­cant steps to grow its econ­omy, the local prop­erty mar­ket was likely to pros­per and as a re­sult, the state con­tin­ued to at­tract a high num­ber of in­ter­state mi­grants in search of af­ford­able hous­ing and em­ploy­ment.

“When we have sig­nif­i­cant slow­down and price re­duc­tions in Syd­ney and de­cel­er­ated prices in Mel­bourne, as is the case now, this tra­di­tion­ally means south­east Queens­land at­tracts more in­ter­state in­vest­ments,” Mr Pe­leg said.

Mr Pe­leg said there were two types of up­graders – those liv­ing in a house and mov­ing to a bigger one or a bet­ter lo­ca­tion, and those liv­ing in units look­ing to buy a house.

Bris­bane’s Albion topped the list fol­lowed by Wavell Heights and Stafford.

Hope Is­land made Riskwise Prop­erty Re­search’s top 10 list of suburbs for up­graders.

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