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The hottest growth suburbs in Brisbane have been revealed amid signs of “uplift” for the city’s housing market, according to a leading national property analyst.
Terry Ryder of Hotspotting has released his latest Price Predictor Index, which tracks rising sales in suburbs across the country and identifies the places likely to deliver strong price growth in the near future.
The index found 33 suburbs in Brisbane were “rising steadily”, with the strongest market being the affordable Moreton Bay region.
“The Brisbane market is showing signs of uplift, with more growth suburbs emerging in the latest survey,” Mr Ryder said.
In fact, Moreton Bay is the second strongest growth market in the country — eclipsed only by Port Adelaide — with 10 suburbs classified as “rising steadily”.
These include Clontarf and Woody Point, which have seen increases in sales activity.
Mr Ryder said the suburbs’ drawcards included affordable prices, new rail links, a soon to completed new university campus and a bayside lifestyle.
The second highest ranked market after Moreton Bay is Brisbane south, which has eight rising markets — many surprise contenders as they have beaten bluechips to take out the top spots where prices are expected to outperform.
Those suburbs are Mt Gravatt East, Corinda, Forest Lake, Mansfield, Oxley, Parkinson and Sunnybank Hills.
Most of these fit into Brisbane’s “middle market”, with median house prices in the range from $650,000 to $800,000.
The number of growth suburbs in Brisbane’s north have risen from four to seven in the latest survey, with rising demand occurring in Alderley, Bald Hills, Brighton, Geebung, Gordon Park, Newmarket and Stafford Heights.
Across the state, Clinton in the Gladstone region is the top growth suburb in Queensland, while Emerald in central Queensland, Kearneys Spring in Toowoomba, Little Mountain on the Sunshine Coast and Torquay in Hervey Bay also make the list.
Brisbane’s south, Mackay and Moreton Bay are among the national top 10 regions with the highest number of growth suburbs.
But when it comes to consistent sales growth, one Queensland suburb has taken out the top spot in the country — Mountain Creek on the Sunshine Coast.
The suburb, with a median home price of $635,000, has sold between 90 and 110 homes in each quarter over the past four years.
Its median house price has increased 10.5 per cent in just the past 12 months.
“Most property buyers are seeking growth and in the search for rising prices there’s a tendency to undervalue the consistent markets,” Mr Ryder said.
“These places represent safety for buyers because markets like this are likely to maintain
steady price levels — but these markets also deliver good growth.”
BRISBANE’S HOTTEST GROWTH SUBURBS FOR 2019:
Mt Gravatt East
(Source: The Price Predictor Index)