Connect with us

Market Place

North Lakes has been a huge success at attracting quality businesses

Published

on

North Lakes has been a huge success at attracting quality businesses

IF YOU judge a suburb by the quality of the businesses it attracts, then North Lakes has to be one of the most successful Queensland developments in recent years.

After originally being a locale of Mango Hill, North Lakes, following extensive housing and commercial development, has emerged in its own right since it was given suburb status in 2006.

Its appeal has been magnetic for both commercial entities and residents with more than 21,000 people now calling North Lakes home, according to the latest ABS Census.

It’s a 40 percent population spike on the 2011 ABS data when the Moreton Bay Regional Council suburb contained 15,000 residents.

The place is bursting at the seams, says local RE/MAX real estate agent Mark White.

“There are a couple of little pockets they are finishing off but the North Lakes footprint is almost finished from a residential perspective,” Mr. White said. “It’s almost full.”

For those who have set-up home in North Lakes, some 26km north of the CBD, there’s little need to venture beyond the suburb’s boundaries for entertainment and shopping.

Westfield North Lakes. Picture: Jamie-Leigh Mason

There’s an enormous Westfield Shopping complex just off the Bruce Highway which opened in 2003 and has more than 4900 car park and 80 specialty shops.

The complex is complemented by warehouse merchandiser Costco and Swedish furniture giant IKEA – only the second built in Queensland – within close proximity.

“The only Costco in Queensland is in North Lakes and the second IKEA is in North Lakes which show how much of a success this development has been,” he said.

“For a long time and still may be, it was the fastest growing area in Australia.

“For the size, a number of people and the desirability of it, it’s a real lifestyle destination.”

Costco North Lakes.

The suburb’s appeal is about further enhanced by a $250 million commercial and lifestyle precinct to be developed by the team behind Fortitude Valley’s James Street and Southport’s Brickwork developments.

Laguna North Lakes will sit opposite Westfield and contain a 140-room hotel, trendy dining laneways, a tavern and office tower.

The recent announcement comes a year after the opening of Redcliffe Peninsula railway line.

“There is a series of railway stations in a short distance of each other and it’s about 70 minutes to the city,” Mr. White said.

“The residents have been quite excited that the railway line, IKEA and the movie theatre (at Westfield) all opened in the past 12 months.”

New housing at North Lakes. Picture: Glenn Hunt/Getty Images

North Lakes contains 7649 dwellings and its population is very much a mix of Commonwealth countries.

According to the ABS, the most spoken language outside of English is Afrikaans while New Zealand born residents make-up 8.3 percent of the local population followed by Brits (7.1 percent).

Yet, according to Daniel Pennisi, a third-generation greengrocer who co-owns The Fruit and Deli Co. at Westfield, there’s another migrant group that’s not transparent in the ABS data.

“There is a strong South African influence but we are seeing a strong South American influence, not necessarily in North Lakes but from surrounding areas as well who we cater for,” he said.

The Fruit and Deli Co co-owner Daniel Pennisi

“We have a large South American range including Arepa, which is like a corn tortilla and it’s part of their diet … we have five types of that.”

The Fruit and Deli Co. will celebrate its second birthday at North Lakes in November and Mr. Pennisi said the opening of the railway station was the missing link for the suburb.

“We found a lot of our customers work in the city but live here and the opening of the railway line was a big, big boost for them,” he said.

While the shopping center certainly has put the suburb on the map, the area has a lot more to offer.

It’s within close proximity of the Redcliffe Peninsula and within an hour’s drive to the Sunshine Coast and 40 minutes to Brisbane.

Lake Eden at North Lakes. Picture: Bradley Cooper

It has a strong businesses hub, a council library, leisure center and pool within the vicinity of the shopping center and the suburb’s centerpiece is Lake Eden which has a 10,000 step walking track, cafe, barbecue and playground area.

Positioned within a stone’s skimming throw of the lake are North Lakes State College and The Lakes College.

The Lakes College. Picture: Chris Higgins

Opposite the State College is Told You So cafe which has been operating for 18 months.

Owner Anna Lumsden said the many of her customers were families and students and she chose the location based on the size of the ever-growing population.

“There are definitely lots of young families and uni students but it’s a lot more affordable for people to live out here too,” she said.

The Told You So Cafe

“We chose here because of lots of people living in a small area and there some major drawcards in the area where people pass through.”

The suburb’s popularity has also meant a steady rise in the median house price.

Mr White said a turn-key house could have been purchased for under $200,000 in 2006 but it has more than doubled since then with the median for a four-bedroom house tracking at about $520,000.

“The results speak for itself. There is about a 65 percent owner occupier … it’s a real lifestyle destination.”

Originally Published: www.couriermail.com.au

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Market Place

Where it’s cheaper to buy than rent in Queensland

Published

on

Where it’s cheaper to buy than rent in Queensland

HOUSING in Queensland is more affordable than it was a decade ago, with many areas now cheaper to buy a property in than to rent one.

A new report by ANZ and CoreLogic reveals household incomes have risen at a faster rate than home values in the Queensland capital – particularly in the last quarter of 2018.

It means the housing market is more affordable for those buying or saving for a deposit.

Greater Brisbane suburbs like Beenleigh, Caboolture, Springwood and Ipswich are now more expensive to rent in than to pay off a mortgage.

Where it’s cheaper to buy than rent in Queensland 1

In regional Queensland, housing affordability is even greater, with most areas from the Darling Downs to Cairns much cheaper to buy in than rent.

Over the past decade, median dwelling values across the state’s regions have lifted by just 4.4 per cent, while household incomes have increased by a much greater 28.9 per cent.

It is now significantly cheaper to buy a home than rent one in Biloela, with the report estimating it would take only 2.5 years to save a 20 per cent deposit.

“Anywhere around the mining areas have seen steep value declines and that has impacted affordability,” ANZ managing director of consumer banking Kate Gibson said.

“It doesn’t mean it’s a great idea to go rushing in, but we’re starting to see locals who had been priced out (of the market) now in a position to get back in.”

Where it’s cheaper to buy than rent in Queensland 2

The average household income in Brisbane has jumped more than 31 per cent in the past 10 years, while median home values have increased by 25.8 per cent.

It takes eight years for an average household to save a 20 per cent home deposit, based on a median home value of $493,568 and saving 15 per cent of their income.

But it can take significantly less, or more time, depending on which suburb you are looking to buy a property in.

In Ipswich and Jimboomba, it takes about six years to save for a deposit, while in Bribie Island and Sunnybank, it is likely to take more than a decade to come up with enough money to buy a home.

Where it’s cheaper to buy than rent in Queensland 3

Ms Gibson said the older, more established suburbs were usually the hardest to buy into in most capital cities, but the report showed areas by the water were the most sought-after.

“If it’s a nice area to retire to or a nice place to have a beach house, we’ve found housing values have been driven more by people buying from outside the area than local residents,” she said.

In Noosa, the report estimates it could take 13 years to save for a 20 per cent deposit for a home, while in Burleigh Heads and Southport, would-be buyers are looking at needing to save for at least 10 years.

Ms Gibson said the report was designed to help potential buyers find opportunities to get into the market at a price point they could afford.

Where it’s cheaper to buy than rent in Queensland 4

Homeowner and mother-of-two Rachael Tickner said she and her husband, Brent, had considered upgrading to another home, but would need to save for a few more years to get into the suburb they would like to live in.

They currently own a four-bedroom house in Nudgee.

“In my heart I definitely want to live somewhere else … it would be lovely to be more inner city,” Mrs Tickner said.

“I’d love to live in Ascot, but we’re looking at a good 10 years of saving and going without before we can afford that!”

But she said they would be more open to buying an investment property in a less desirable suburb.

“We’d be open to researching the areas that do have a lot of growth and good return and wouldn’t rule out any suburbs,” she said.

It comes in the wake of the first cut to interest rates in almost three years, with the Reserve Bank of Australia slashing the official cash rate to 1.25 per cent this week.

WHERE IT’S CHEAPER TO BUY THAN RENT

Suburb % of income needed to service mortgage % of income needed to rent

Beenleigh 29.9% 31%

Biloela 10.3% 19.1%

Bowen Basin – North 11.2% 19.4%

Browns Plains 26.3% 26.3%

Bundaberg 27.6% 30.8%

Burnett 21.2% 28.8%

Caboolture Hinterland 31.4% 31.5%

Cairns – North 27.4% 28.5%

Cairns – South 26% 30.2%

Central Highlands 12.9% 18.9%

Charters Towers 17.2% 23.6%

Darling Downs – East 18.5% 22.5%

Darling Downs – West 13.6% 20%

Far North 25.2% 29.7%

Gladstone 17.9% 18%

Granite Belt 24.5% 26.8%

Innisfail 19.8% 27.7%

Ipswich Hinterland 26.5% 27.8%

Mackay 23.9% 28.5%

Maryborough 28.1% 33.2%

Outback – North 11.6% 19.7%

Outback – South 8.2% 18.6%

Port Douglas 25% 27.6%

Rockhampton 21.8% 25.4%

Surfers Paradise 34.1% 40%

Springwood-Kingston 25% 28.1%

Tablelands (East) 28.9% 32.6%

Townsville 21% 24%

Whitsunday 29.6% 31.2%

YEARS NEEDED TO SAVE A DEPOSIT

Suburb Years to save a 20% deposit

Noosa 13.1

Bribie Island 10.8

Sunnybank 10.7

Cleveland-Stradbroke 9.1

Brisbane inner 7.3

Browns Plains 6.5

Ipswich inner 6.1

Springfield-Redbank 5.8

Townsville 5.2

Biloela 2.5

Source: brisbaneinvestor.com.au

Continue Reading

Market Place

Revealed: These are the hottest suburbs in Brisbane for 2019

Published

on

Revealed These are the hottest suburbs in Brisbane for 2019
Revealed These are the hottest suburbs in Brisbane for 2019

THE hottest suburbs in Brisbane have been revealed amid signs of “uplift” for the city’s housing market, according to a leading national property analyst.

THE hottest suburbs in Brisbane have been revealed amid signs of “uplift” for the city’s housing market, according to a leading national property analyst.

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.

Revealed These are the hottest suburbs in Brisbane

“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.

Revealed These are the hottest suburbs in Brisbane 2019

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.

Revealed These are the hottest suburbs

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.

Revealed These are the hottest suburbs in Brisbane for the year 2019

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.”

Revealed These are the hottest suburbs in Brisbane in the year 2019

BRISBANE’S HOTTEST GROWTH SUBURBS FOR 2019:

Alderley

Alexandra Hills

Bald Hills

Banksia Beach

Beachmere

Bray Park

Brighton

Burpengary

Carina

Clontarf

Corinda

Eagleby

Forest Lake

Geebung

Gordon Park

Heritage Park

Joyner

Kenmore

Loganholme

Mansfield

Mt Gravatt East

Newmarket

Oxley

Parkinson

Redcliffe

Rothwell

Salisbury

Stafford Heights

Strathpine

Sunnybank Hills

Woody Point

Wynnum West

(Source: The Price Predictor Index)

Originally published as Brisbane’s hottest suburbs revealed

Source: brisbaneinvestor.com.au

Continue Reading

Market Place

Queensland Attracts UK Property Seekers

Published

on

Queensland Attracts UK Property Seekers

Research by realestate.com.au showed that searches for property in Queensland climbed by nearly a third in December compared to the same period in the previous year. This was driven largely by British people who are flocking to one of the most populous states in the country, according to a report by news.com.au.

The study found that property searches originating from the UK increased 31%, with the Sunshine Coast suburbs of Noosa Heads, Buderim and Mooloolaba as popular picks among potential buyers.

New Farm, Redcliffe and North Lakes, meanwhile, topped the list of the most in-demand suburbs in Brisbane.

Nerida Conisbee, Realestate.com.au chief economist, said Queensland, specifically its beachside properties, held the top spot in terms of total search activity among UK property seekers.

“The Hemsworth impact seems to be impacting the view of Byron Bay with this the most searched by UK property seekers in December 2018 — the number tripling from December 2017,” she said.

Universal Buyers Agents Director Darren Piper said that the chaos surrounding Brexit in Britain was enticing overseas buyers to explore the Australian property market.

“House prices in London have fallen for the fifth quarter in a row. It’s natural for investors to look for safe havens in times of uncertainty,” he said.

Australia’s property market has consistently grown over the past decade, with homes in Sydney, Brisbane and Melbourne reaching record prices.

“It’s the perfect time for people to get their foot in the door and it’s a great time as a homeowner to explore your options, maybe make a move or stay the course,” said Piper.

 

Source: brisbaneinvestor.com.au

Continue Reading

Make Your Super Work

smsf property investment smsf borrowing

Positive Cashflow Property

duplex designs, dual occupancy homes

Property Investment Advice

rentals brisbane, rent brisbane, brisbane rentals

Trending