The USC Moreton Bay campus, scheduled to open in Petrie this year, is helping to increase interest in the Pine Rivers property market and buyer activity will only increase, according to a local real estate expert.
According to data from Core Logic, more than half of the suburbs in the Pine River Press catchment area saw average growth in property prices in 2019, while everyone except Dakabin has seen an increase in average property prices in the past three years.
The outstanding performance of 2019 was achieved by Dayboro, where the average property price rose 16.9 percent to $ 591,000.
Clear Mountain ranked second, up 16.3 percent to $ 802,250, while cashmere rose 5.4 percent to $ 769,450.
Mark Rumsey, sales manager at David Deane Real Estate Strathpine, said the real estate market at Pine Rivers was solid in 2019.
“It was hit by the impact of the royal banking commission’s actions and the federal election earlier this year, but has grown steadily since then,” he said.
“There was a lot of investor activity due to the university and the first home buyers were solid with interest rates at such record lows.”
According to Rumsey, Strathpine, Lawnton, Bray Park and Petrie were the top-selling suburbs in 2019. The university and subsequent development that it supported met with keen interest.
“We are so close to the bay, rural areas, the north and south coasts, 25 minutes from the city, and have an average house price of only $ 425,000 for properties with large blocks and great value,” said he.
Mr. Rumsey predicted that 2020 would be an even better year for real estate in the region.
“The new first incentives for home buyers, possible rate cuts, the opening of Petrie University and Brisbane’s second runway will make our region and Brisbane have a very good year of growth overall,” he said.
“We are very excited about the development of our region and some of the exciting new projects that are being put into practice.”
Source: themediatimes.com