Putting new homes on the market has been of growing importance, with the backlog of homes needed to meet a growing population in Australia continually growing.
Recent policy decisions have reflected the industry’s calls for more new housing, rather than stoking the flames of the currently hot property market. This included incentivising new housing, with state and national policies announced around June to August this year. The Housing Australia Future Fund is another recent policy win.
Investor interest may be picking up, with interest rates holding again this month at 4.10%. Experts have previously aired their grievances on the cash rate, noting that high rates have impacted the desire of investors.
A Sydney exodus
Large swathes of people have been leaving Sydney, with OpenLot CEO and co-founder, Qi Chen, telling The Property Tribune:
“Across Victoria and Queensland, we’re seeing a strong increase of Sydney investors coming since the beginning of 2023.”
“This is largely driven by the uplift of Sydney property value since Covid and investors are now tapping into their existing equity to make their next property investment purchase.”
Qi Chen, OpenLot
“Regional Victoria & Queensland remains the hotspot for investors as it provides purchase value and rental yield.”
This population movement has been previously noted elsewhere, with Melbourne standing out as the preferred choice, followed by Brisbane.
Queensland’s top 20 suburbs for investing in new houses
|Rank||Suburb||Postcode||Potential yield||Vacancy rates||Typical rent|
Zooming in on the top five
Several suburbs on the list have previously featured as some of the best in the nation, including Hope Island, Andergrove, Edmonton, Shoal Point, and more.
The suburb is located north of the main Gold Coast area and was previously noted as somewhat of an anomaly.
While many suburbs on the list were affordable locations, Hope Island had some of the most expensive and exclusive homes on the market.
The suburb is part of the million-dollar club, with units not too far behind at $700,000 a piece, according to SQM Research data.
Weekly asking property prices for 4212, including Hope Island
Heading off to Mackay, the suburb benefits from all the amenities that the hub has to offer, along with being on the doorstep of the Great Barrier Reef.
Markedly more affordable than Hope Island, prices topped out at the half-a-million mark, with units coming in at an affordable $300,000.
Weekly asking property prices for 4740, including Andergrove
Located in Far North Queensland in the southern part of Cairns, rental prices for Edmonton have been steadily rising over the past ten years.
The suburb also boasts an affordable entry point. along with many of the amenities that Cairns has to offer.
Weekly asking property prices for 4869, including Edmonton
Located an hour north of Mackay, this suburb is a picturesque and affordable corner of Queensland. The suburb appears to largely comprise residential housing, a state school, and various hospitality businesses.
House prices in the area were close to $500,000 between 2011 and 2014, before gradually falling and flatlining for some time. House prices more recently picked up again.
Weekly asking property prices for 4750, including Shoal Point
Located close to Airlie Beach, the suburb has commanding views out to Pioneer Bay and is also on the doorstep of the Great Barrier Reef.
While prices have been largely flat for the past decade, around the $500,000 mark, the onset of Covid saw prices truly soar, with the latest around $800,000.
Weekly asking property prices for 4802, including Cannonvale
Article source: thepropertytribune.com.au