There’s plenty to love about Brisbane, but as the city’s appeal grows, its affordable options are shrinking. While it’s good news for those already on the Brisbane property ladder, it may be time for bargain-hunters to search further afield.
Once a haven for priced-out investors from Sydney and Melbourne, Australia’s third-largest city is on its way towards narrowing the price gap. Forecasters, BIS Oxford Economics, expect Brisbane to outperform the other capitals in terms of price growth in the near future, with a 13 per cent increase predicted by 2021.
With its enviable climate, laid-back lifestyle and dazzling coastline, the Sunshine State has plenty to love beyond its capital city, and savvy buyers are already on the case.
The top 10 growth suburbs in Queensland for 2018 were all outside of the city, according to the latest data from realestate.com.au.
Here are some Queensland regions rightfully earning their stripes as growth suburbs.
Halfway between the Sunshine Coast and Gold Coast, Moreton Bay is enjoying its time in the sun, with annual growth topping 20 per cent across many of its regions. Along with a boom in local employment opportunities, the completion of the Moreton Bay Rail Link provides locals with an easy connection to jobs in Brisbane and Northlakes.
On the water, Newport, Moreton Bay has the well-heeled crowd paying attention, with new luxury waterfront homes, golf courses, boutiques and alfresco eateries proposed for the Newport Town Centre.
Residents here have the opportunity to live car-free, with schools, retail, entertainment and employment options all within walking distance, and the nearby train station connected via a walkway and cycleway.
The Sunshine Coast is much more than a holidaymaker’s dream – according to official council forecasts, the area is predicted to house an extra 385,000 people by 2026. With more than 300 days of sunshine a year and access to the scenic hinterland and stunning coastline, it’s no wonder so many Australians are making the move north.
Mainwaring Collection at Brightwater, just a short drive from beaches and Mooloolaba’s amenities, offer residents high quality, low maintenance living options that give them freedom to enjoy the Sunshine Coast lifestyle.
The Central Kawana region is also on the rise, slated to become a $5 billion world-class destination, offering the lakeside and beachfront residential communities of Bokarina Beach and Birtinya, along with a new health precinct, town centre and retirement village.
Living up to its name in more ways than one, the Gold Coast’s local economy is thriving, and with it, a host of new communities. There are several proving that there’s more to the Gold Coast than its glittering beaches, spreading development from the coast up along the banks of the Coomera River and into the foothills of Mount Tambourine.
Foreshore Coomera is an up-and-coming riverside enclave, offering easy access to the buzz of the Gold Coast, and to Brisbane, via nearby Coomera train station, with community facilities and parklands replacing city crowds and price tags.
Whether by the sea, river or mountains, one feature shared by many of Queensland’s new residential developments is the focus on lifestyle and value. As the influx of new development and infrastructure spreads beyond the cities and longstanding regional hubs, the future is bright for the Sunshine State.
Research from realestate.com.au compares the growth in median house price using Hometrack data, 12 months to Dec-18.
This article was originally published on realestate.com.au as Beyond Brisbane: affordable hotspots in the Sunshine State.