INVESTORS chasing capital growth in Brisbane are spoiled for choice, with a new report identifying 27 suburbs where house prices are tipped to rise — and more than half of them have a median price of less than $500,000.
Property analyst Terry Ryder has identified the rising stars of the property market — where sales are rising steadily and house prices are set to follow. And they’re not the inner-city, blue chip suburbs you might expect.
Moreton Bay is the number one local government area in the state for growth, according to the latest Price Predictor Index report from Hotspotting.
The report examines sales activity, rather than prices, to determine the best and worst local government areas for property market growth.
The Moreton Bay region has 10 rising star suburbs where sales have been steadily increasing including Banksia Beach, Bellmere and Deception Bay.
Quarterly sales in Burpengary have risen from 69 to 97 in the past six quarters, while at Sandstone Point, sales are up from around 40 per quarter to 55 to 60.
Homes are selling so fast in the area that Jared and Annaliese Bullock just sold their four-bedroom house in Burpengary for $475,000 before they had a chance to even put it on the market.
Mrs Bullock said she contacted an agent at RE/MAX Ultimate, who brought through a couple of potential buyers and the offer was made within days.
But she’s not too surprised, given how close the suburb is to the train station, shops and the highway. The couple also recently bought two units as investment properties in nearby Caboolture. Acacia Ridge, Algester, Eight Mile Plains, Kuraby and Sunnybank Hills are also predicted growth areas.
“It’s the affordable, outer areas that have got the most activity at the moment,” Mr Ryder said.
“The infrastructure is pretty good, with train links to the centre of the city, and there’s lots of shopping centres and good amenities.”
“The sweet spot is to be about 200 metres from a school, a shopping centre and a train station.”
SUBURBS WHERE SALES ARE RISING
Acacia Ridge $402,000
Algester $493,000
Banksia Beach $550,000
Bellmere $345,000
Birkdale $533,000
Boondall $490,000
Burpengary $420,000
Caboolture $340,000
Caboolture South $290,000
Deception Bay $345,000
Eight Mile Plains $788,000
Ferny Grove $595,000
Goodna $324,000
Jimboomba $480,000
Kippa Ring $415,000
Kuraby $679,000
Mt Warren Park $390
Narangba $458,000
Petrie $410,000
Raceview $318,000
Sandstone Point $420,000
Sinnamon Park $720,000
Springfield $426,000
Sunnybank Hills $660,000
Tingalpa $516,000
Victoria Point $522,000
Woodridge $299,000
Source: Hotspotting