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Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

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Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

Andrew Galloway is selling his investment property in Loganlea, which has been identified as one of Queensland’s most affordable growth suburbs. Image: AAP/John Gass.Source:News Limited

THESE are the best performing cheapie suburbs in Queensland. Find out which areas buyers on a budget should be targeting.

QUEENSLAND’S best growth suburbs for buyers on a budget are in lifestyle locations and affordable hot spots in Brisbane’s backyard, a new report has revealed.

For an investment property under $500,000 and with good capital growth prospects, look no further than Palm Beach on the Gold Coast, Noosaville on the Sunshine Coast and Loganlea, south of Brisbane, where values have increased by up to 20 per cent in 12 months.

The Top Affordable Suburbs Report, released by researcher CoreLogic, identifies suburbs where property values are below half a million dollars and have shown strong capital growth.

These suburbs are good targets for entry-level buyers, offering affordable real estate, improving infrastructure and strong track records that suggest ongoing strength.

Palm Beach holds the number one spot as the most affordable for capital growth in the state, according to the report.

Unit values in the beachside enclave have jumped 20.2 per cent in the past 12 months and more than 52 per cent in five years to a $471,758 median.

But you can still snap up a two-bedroom apartment a few streets back from the beach there for $379,000.

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This two-bedroom apartment at 3/2 Brooke Ave, Palm Beach, is for sale for $379,000.Source:Supplied

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This two-bedroom apartment at 3/2 Brooke Ave, Palm Beach, is for sale for $379,000.Source:Supplied

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

Inside the apartment at 3/2 Brooke Ave, Palm Beach.Source:Supplied

After Palm Beach, the second most affordable growth suburb in the state is Noosaville on the Sunshine Coast, where unit values have gained more than 14 per cent in the past year to reach $486,468.

Alexandra Headland is also in the top 10 list compiled by CoreLogic, with units in the beachside suburb increasing in value by more than 12 per cent in a year.

But you can still get a two-bedroom unit with ocean views in the suburb for $429,000.

GOLD MINE FOUND IN BRISBANE BACKYARD

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This two-bedroom unit in Camfield St, Alexandra Headland, is available for $429,000.Source:Supplied

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This Alexandra Headland apartment is for sale for $429,000.Source:Supplied

CoreLogic senior research analyst Cameron Kusher said first home buyers were still active in Queensland and the more affordable end of the market was not facing the same pressures as the more expensive suburbs, which explained why suburbs like Loganlea, Ripley and Jimboomba were performing well.

“We are finding the lower end of the housing market is the higher value stock — even in Brisbane,” he said.

“We might not see the same gains over the next 12 months or three years, but there’s still going to be demand in these affordable markets.”

The latest CoreLogic home value figures reveal a strengthening of affordable and lifestyle locations, particularly on the Sunshine Coast, which recorded a 5.5 per cent increase in home values in the past financial year.

HOME FIT FOR HARRY AND MEGHAN

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

Waterfront properties at Witta Circle in Noosa Heads on the Sunshine Coast.Source:News Corp Australia

Mr Kusher said the Gold Coast housing market was starting to cool off, but demand was still strong for the Sunshine Coast.

“These people from Sydney and Melbourne who want to buy a holiday property are looking at these areas and seeing pretty good value,” Mr Kusher said.

“I think that’s where the buyers are coming from.”

In Loganlea, about 25km south of Brisbane, house values have increased more than 14 per cent in the past year to a still very affordable $391,469.

Andrew Galloway is selling his investment property, which is on the market for just $339,000.

The four-bedroom, two-bathroom brick house at 10 Starling St, Loganlea, has been returning about $345 a week in rent.

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

This four-bedroom house at 10 Starling St, Loganlea, is on the market for just $339,000.Source:Supplied

Where to invest: Palm Beach, Noosaville, Loganlea among QLD’s most affordable growth suburbs

Inside the house at 10 Starling St, Loganlea.Source:Supplied

Mr Galloway said the property had recorded solid capital growth in the past 11 years he had owned it and he had decided to take advantage of that.

“I think it’s achieved the capital gain it’s going to achieve in the time frame I’m going to have it,” he said.

Mr Galloway said he had noticed gentrification in and around the street in the past decade, which had made it more appealing.

Selling agent Pamela Anemaat of Raine & Horne Beenleigh said there had been an increase in large blocks in the suburb being subdivided by developers offering house and land packages, which had helped generate interest, particularly from first home buyers.

Mrs Anemaat said Loganlea was also popular suburb for investors because it was a high rental area and still so affordable.

“It is a feast for southern buyers, and they are moving up here and purchasing up here because they just can’t afford to buy a new home down there,” she said.

QLD’S 10 BEST PERFORMING AFFORDABLE SUBURBS

Suburb Property type Median value Value change Value change

12 mths 5 yrs

1. Palm Beach Units $471,758 20.2% 52.2%

2. Noosaville Units $486,468 14.4% 36.9%

3. Loganlea Houses $391,469 14.3% 43.8%

4. Mudgeeraba Units $399,637 13% 37.8%

5. Alexandra Headland Units $397,297 12% 36.6%

6. Ningi Houses $458,469 9.2% 11%

7. Jimboomba Houses $494,933 9.1% 22.1%

8. Ripley Houses $391,736 8.7% 23.9%

9. Elanora Units $372,760 8.6% 29.7%

10. Narangba Houses $493,418 8.3% 26.9%

(Source: CoreLogic, based on data to March 2018)

Source: brisbaneinvestor.com.au

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Top 68 suburbs for growth in Queensland revealed

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Top 68 suburbs for growth in Queensland revealed

Top 68 suburbs for growth in Queensland revealed. New data has shown the top 68 suburbs in Queensland for capital growth over the last 12 months to June, with the number one spot reaching triple digits.

Top 68 suburbs for growth in Queensland revealed

Outlined in the Real Estate Institute of Queensland’s Queensland Market Monitor report, REIQ CEO Antonia Mercorella said despite the ‘doom and gloom’ of the property market, there are still locations that are seeing large gains in profitability.

“A total of 68 suburbs throughout Queensland have delivered double-digit growth over 12 months, which is a really strong result,” Ms Mercorella said.

“And there are many more suburbs delivering strong single-digit growth. It’s a great market to be in at the moment.”

While south-east Queensland saw a lot of attention, there were some high growth suburbs found in central and northern Queensland.

The area with the strongest growth was Blackwater, which saw a rise of 151 per cent growth, which Ms Mercorella attributed to the resurgence of coal prices.

Aside from Blackwater, 10 other suburbs saw growth over 20 percent. These included:

  • Spring Mountain with growth of 103.6 per cent;
  • Collinsville with growth of 46.2 per cent;
  • Minyama with growth of 45.8 per cent;
  • Hamilton with growth of 32.9 per cent;
  • Hollywell with growth of 30.5 per cent;
  • Miles with growth of 23.5 per cent;
  • Mount Coolum with growth of 21.9 per cent;
  • Dundowran beach with growth of 21.5 per cent;
  • Boonah with growth of 21.3 per cent; and
  • Idalia with growth of 21.3 per cent.

Ms Mercorella said the top 11 suburbs were indicative of steady growth across the state, but warned against calling it a ‘boom’.

“While we’re definitely seeing prices come back in western Queensland mining towns, such as Blackwater, these prices are still below their peak,” she said.

It’s unlikely we’ll see a return to pre-2013 prices in those areas anytime soon.”

South-east Queensland

While the top 11 suburbs show a spread of high growth suburbs through the state, 41 suburbs out of the 68 are located in the ever-popular south east corner of Queensland.

Of these, 15 suburbs were located in the Sunshine Coast region, with the highest growing being Minyama, which ranked fourth overall.

The Brisbane region also saw a large number of high performing suburbs at 13. Hamilton was the region’s best performer and fifth overall.

Next was Ipswich with six suburbs, then the Gold Coast with four, Moreton Bay with three, while Redland and Logan suburbs did not rank.

Regional Queensland

Outside of south east Queensland, 27 regional suburbs ranked on the list, with the Townsville region recording four suburbs. Its highest performer was Idalia, which ranked 11th overall.

Next were the Cairns and Gympie regions, both recording three suburbs each. Cairns’ top performer was Palm Cove, which ranked 26th overall, while Cooloola Cove was Gympie’s top performer, which ranked 42nd overall.

While only recording one suburb, the Whitsunday region’s Collinsville ranked third overall.

The Bundaberg and Toowoomba regions both recorded two top suburbs, while the Banana, Charters Towers, Fraser Coast, Gladstone, Isaac, Livingstone, Mackay, Rocky, Scenic Rim, Somerset and Western Downs regions all had one top suburb each

The top 68 suburbs which experienced double digit growth over the last year to June 2018, according to the REIQ, are:

Rank Suburb Median price Capital growth over 12 months (as a percentage)
1 Blackwater $94,250 151.3%
2 Spring Mountain $450,000 103.6%
3 Collinsville $95,000 46.2%
4 Minyama $1,310,000 45.8%
5 Hamilton $1,442,000 32.9%
6 Hollywell $810,000 30.5%
7 Miles $148,250 23.5%
8 Mount Coolum $670,000 21.9%
9 Dundowran Beach $607,000 21.5%
10 Boonah $324,500 21.3%
11 Idalia $485,000 21.3%
12 Rasmussen $347,500 19.9%
13 Yaroomba $749,000 19.7%
14 Biloela $272,750 18.6%
15 Burnett Heads $317,000 18.1%
16 Tivoli $295,000 18.0%
17 Cashmere $690,000 18.0%
18 Walloon $370,000 16.7%
19 Sunshine Beach $1,400,000 16.7%
20 Noosa Heads $1,070,000 16.0%
21 Hope Island $739,750 15.7%
22 Ripley $374,000 15.4%
23 Sandgate $705,000 15.2%
24 North Ward $575,000 15.0%
25 Paddington $1,150,000 14.7%
26 Palm Cove $606,000 14.3%
27 Charters Towers City $142,500 14.0%
28 Pelican Waters $761,000 13.9%
29 Cooee Bay $313,000 13.8%
30 Mount Ommaney $944,000 13.7%
31 Fernvale $357,500 13.5%
32 The Range $380,000 13.4%
33 Landsborough $432,500 13.4%
34 Sunnybank $832,500 13.3%
35 North Mackay $270,000 13.2%
36 Whitfield $540,000 13.1%
37 Graceville $932,500 13.0%
38 Hendra $1,100,000 12.7%
39 Shorncliffe $840,000 12.4%
40 Moranbah $185,000 12.1%
41 Coes Creek $442,500 12.0%
42 Cooloola Cove $317,500 12.0%
43 Battery Hill $578,000 12.0%
44 Seven Hills $940,000 11.9%
45 Nundah $755,000 11.9%
46 Monkland $240,000 11.6%
47 Bongaree $470,000 11.6%
48 Clifton Beach $557,500 11.5%
49 Maroochydore $639,000 11.2%
50 Twin Waters $823,000 11.2%
51 Cambooya $322,500 11.2%
52 Tewantin $572,500 11.2%
53 Coolum Beach $675,250 11.2%
54 Kedron $744,500 11.1%
55 Sunrise Beach $820,000 11.0%
56 Oakey $241,500 11.0%
57 D’aguilar $416,000 10.9%
58 Mountain Creek $610,000 10.9%
59 Flinders View $371,500 10.9%
60 Highland Park $570,000 10.7%
61 Rosewood $291,000 10.7%
62 Bulimba $1,300,000 10.6%
63 Kirkwood $353,500 10.5%
64 Woodgate $402,500 10.3%
65 Railway Estate $309,500 10.1%
66 Auchenflower $1,070,000 10.0%
67 Rainbow Beach $489,500 10.0%
68 Ormeau Hills $530,000 10.0%

Source: brisbaneinvestor.com.au

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First home buyers, investors in Queensland cashing in on spring selling season

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Investors in Queensland
Investors in Queensland

Potential buyers look to secure a property at auction. Picture: Luke Drew.Source:News Corp Australia

THE number of homes for sale in some of Queensland’s entry-level markets has surged this spring selling season, as first home buyers and investors emerge from hibernation to hunt for bargains.

Local real estate agents are reporting a 50 per cent jump in the number of homes hitting the market in the outer northern suburbs of Burpengary, Morayfield and North Lakes since the start of August.

And new figures from property research firm, CoreLogic, reveal new listings are up 11.9 per cent in Brisbane over the month and 2.8 per cent higher than they were during spring selling season this time last year.

Unit listings have skyrocketed nearly 90 per cent in Fairfield and almost 60 per cent in Strathpine in the past 12 months, while there are at least 30 per cent more houses on the market in Middle Park than there were a year ago.

Raine & Horne Queensland general manager Steve Worrad said there was strong demand for housing in the state’s entry-level markets, driven by first home buyers and investors, who were being lured by their affordability compared with Sydney and Melbourne.

Investors in Queensland

Biggest yearly change in Brisbane home listings by suburb. Source: CoreLogic.Source:Supplied

It comes as the number of loans approved to first home buyers nationally hits its highest level since the end of the global financial crisis.

Reserve Bank of Australia data reveals the proportion of first-home owners loans has risen to 18.5 per cent this year from a low of 12.9 per cent two years ago.

Figures from home builder Porter Davis and realestate.com.au reveal that 46 per cent of would-be buyers in the Queensland market are currently looking to purchase their first home.

Raine & Horne Burpengary, North Lakes and Morayfield principal Gina Wells said entry-level four-bedroom properties in Burpengary were selling for $420,000, while homes in North Lakes started from $550,000.In Morayfield, entry-level properties were available from $330,000.

Investors in Queensland

The number of homes for sale in North Lakes has risen this spring selling season, according to local real estate agents.Source:News Limited

“At the same time, buyer numbers are holding up, although, with increased listings, owners must price their homes sensibly to achieve a timely sale,” Ms Wells said.

“First home buyers prefer suburbs such as Burpengary and North Lakes as they are only 40 minutes by rail or road from the Brisbane CBD, coupled with the region’s affordability.”

Ms Wells said investors made up about 30 per cent of buyers in the entry-level markets because they appreciated the region’s affordability, infrastructure and historically low vacancy rates.

“We’ve had an excellent September, and we expect the property markets in this region to motor along well into December thanks to a decent level of homes for sale and consistent buyer numbers, which include plenty of Sydney investors chasing the strong yields this region offers,” she said.

Nicole Taylor, 21, and her partner, Billy Mawson-Perini, 20, have just bought their first home in Burpengary — a four-bedroom, two-bathroom house on a 663 sqm block of land.

“We started looking around Rothwell and North Lakes and actually left Burpengary to the last minute, but when we saw this place, we loved it straight away,” Miss Taylor said.

“It’s got more land and the area’s nice. It’s good for a first home.”

Investors in Queensland

This house at 9 Plaintree St, Burpengary, has just sold for $435,000.Source:Supplied

On the southside, local agents say Mount Gravatt East and Holland Park are proving hot spots for first home buyers this spring, even though median house prices in those suburbs are higher.

Stan Egawa from Place – Sunnybank said those suburbs were attracting buyers in the $600,000 to $700,000 price range.

“There is good interest compared to some of the surrounding suburbs,” Mr Egawa said.

“We’re getting double digit buyers through open homes (in Mount Gravatt East and Holland Park), which is very strong.

“In Sunnybank, we’re only getting one or two people to an open home.”

Mr Egawa said many first home buyers were looking for a home they could move in to straight away and live in comfortably, but with potential to renovate the kitchen and bathroom down the track.

“Three-bedroom, one-bathroom houses are very popular,” he said.

“Their ideal location is Coorparoo or Greenslopes, however, they’re realising that for the amount of money they’ll be paying in that area, they’re going to end up with a lot older house or compromising on block size.”

Investors in Queensland

Real estate agents in Mt Gravatt are reporting a rise in home listings and interest from first home buyers. Photo: Kristy Muir.Source:Southern Star

Rob Karaka of All Properties Group said first home buyers were active at the moment in the suburb of Regents Park, with near new or new four-bedroom, two-bathroom houses on 600 sqm blocks were selling for between $400,000 and $550,000.

Shaji Rajan has just bought his first home in Regents Park after renting for three-and-a-half years.

For just $430,000, he was able to secure a five-bedroom, two-bathroom house on a 600 sqm block at 34 Lamberth Road.

But he had competition, with his offer only accepted after another offer fell through.

“Regents Park is a very good area and it’s affordable,” Mr Rajan said.

“For our budget, we can find very good houses here and good schools and it’s very easy for us to get to work.”

Investors in Queensland

This five-bedroom house at 34 Lamberth Rd, Regents Park, sold for $430,000.Source:Supplied

Algester and Calamvale on the southside are also attracting strong interest.

Andrea Manson of Belle Property – Calamvale said listings had jumped “substantially” this spring and first home buyers were keen to get in to the market before interest rates went up. “There’s that perception it’s going to happen sooner rather than later and so many (first home buyers) are wanting to lock in a lower rate while they can,” Ms Manson said.

“Anything under $500,000 in our area is very popular with first home buyers.”

Agents in regional parts of the state are also reporting a strong start to the spring selling season.

Home sales in Bundaberg are 5 per cent stronger than they were this time last year, according to Raine & Horne Bundaberg principal Joshua Rub.

“Values remain consistent despite the spike in sales and those properties that are priced, presented and marketed professionally are selling within 3.5 weeks,” Mr Rub said.

“Sales are higher this spring simply because we have more committed buyers than tyre-kickers.”

He noted the sale to a first homebuyer of a three-bedroom house close to the beach at 25 Heritage Drive, Bargara, for $272,000 within two weeks of hitting the market.

“In Bundaberg and Bargara, local first home buyers and investors are extremely active this spring,” Mr Rub said.

Investors in Queensland

The main street of Bundaberg, which is seeing strong home sales. Picture: Tourism Queensland.Source:Supplied

In Gladstone, which had been hit hard by the mining boom hangover, home sales are at their strongest point in four years, according to Raine & Horne Gladstone principal Mark Patton.

“Well-priced entry-level properties valued upwards of $140,000 offer excellent value and incredibly competitive yields that are as high as 7.5 per cent,” Mr Patton said.

“The savvy buyers have recognised the Gladstone market has reached the bottom and they are making their presence felt at open homes.

“Many have also realised that by buying now, they’ll have a good opportunity to share in some capital growth too.”

FIRST HOMEBUYER HOTSPOTS THIS SPRING SELLING SEASON

Brisbane north

Suburb Median house price

Morayfield $357,000

North Lakes $492,000

Burpengary $464,000

Brisbane south

Suburb Median house price

Mount Gravatt East $657,000

Holland Park $710,000

Regents Park $410,000

Algester $520,000

Calamvale $680,000

Regional Qld

Town Median house price

Bundaberg $230,000

Bargara $375,000

Gladstone N/A

(Source: CoreLogic, Raine & Horne, Place Estate Agents, All Properties Group, Belle Property)

Originally published as Where Qld first home buyers are looking this spring

Source: www.news.com.au

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Renewed hopes of saving North Lakes Golf Club

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north lake

Residents living around the financially troubled North Lakes Golf Club are increasingly hopeful it can be saved from being turned into a retirement community.

The course has been bought by developer Village Retirement Group and is due to close at the end of 2019 although a DA is yet to be submitted.

The Save North Lakes Golf Club group met with Moreton Bay Regional Mayor Allan Sutherland this week and spokesman Andrew Cathcart tells Mark he is confident local will get a fair hearing.

Source: 4bc.com.au

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