FORGET what you’ve heard about Inala before, it’s now emerging as a Brisbane property hotspot.
While the area had been stigmatised in the past as a problem location, according to property analyst Terry Ryder of Hotspotting it was growing in demand because it was affordable and had solid infrastructure.
Mr Ryder said the area, which included suburbs Inala, Durack and Richlands, had good transport links and would benefit from the $400 million Ipswich Motorway upgrade, $200 million Springfield Health City development.
It was also close to substantial master planned communities and was a good spot for investors as it had consistently low vacancy rates.
“Inala is well-placed to be a strong real estate performer,’’ Mr Ryder said. He said it’s greatest strength was its affordable housing options.
It is the first time he has included the area on his Hotspotting list.
“People go where it is affordable for them, both for renting and buying and where the services and amenities are good,’’ he said.
“That precinct is a good location, approximate to various things that are desirable. It’s on the train line and real estate is very affordable, there are plenty of schools in the area, it attracts real estate demand and has shown pretty steady growth lately.’’
Mr Ryder said there were plenty of new developments in surrounding suburbs and the existing properties in Inala offered a cheaper alternative.
“This area has been stigmatised in the past as being down-market with lots of social problems, but is rising in popularity for its affordability and good range of amenities – lots of schools, parks, golf course, good road connections, a train station at Richlands and the Inala Town Centre.’’
Mr Ryder said it was within one of the fastest growing corridors in Queensland with billions being spent on residential development as well as major infrastructure in this area.
Other areas within Greater Brisbane that Mr Ryder said were property hot spots, were suburbs within the Moreton Bay region, the Redcliffe Peninsula, Redlands and Ipswich.
He said the Brisbane property market was attracting growing interest from investors
disenchanted by the prices and yields in Sydney and Melbourne.
He said sale activity remained quite active in suburbs within his hotspot regions.
Originally Published: www.weeklytimesnow.com.au