Worthy of the top 10
Three Gold Coast suburbs are on the winners’ list of postcodes being sought out by upgraders
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.