Southeast Corner home to strongest growth suburbs
Over the past five years, Queensland’s top 50 best-performing suburbs are almost exclusively all within the southeast corner, according to the latest Queensland Market Monitor analysis.
From September 2013 to September 2015, the top 50 strongest performing suburbs were concentrated within four local government areas - the Sunshine Coast, Noosa, Brisbane, and the Gold Coast.
Growth rates ranged from 92% for the top-performing suburb, down to 7.2% for the bottom two in the top 50. There are few suburbs on this list with a median house price below $350,000, and only 17 above $1 million, which indicates that real price growth is happening in the middle tiers of house prices, where middle to upper income families are buying and selling property.
Queensland property is popular with buyers who want good value for money. Almost all of the Brisbane suburbs fall within 10kms of the CBD, indicating that the commute to work plays a role in the buying decision. The top two performing Brisbane suburbs were Teneriffe and Ascot.
Brisbane LGA reported 17 suburbs out of the top 50 medium-term performers: • Teneriffe (76.1%) • Ascot (71.6%) • Sunnybank (58.5%) • Corinda (54.(%) • New Farm (54.0%) • Mount Ommaney (50.4%) • Hendra (50.3%) • Robertson (49.9%) • Woolloongabba (45.8%) • Norman Park (45.5%) • Paddington (45.1%) • Rochedale (45.0%) • Gordon Park (43.9%) • Grange (43.3%) • Camp Hill (43.2%) • Seven Hills (42.8%) • Virginia (41.6%).
Sunnybank featured at 11th, Robertson at 26th, Rochedale at 38th position. Rochedale’s cumulative growth for the past five years to September 2018 was 45% and compound annual growth from Sept 2013 – Sept 2018 was 7.7%.
The 50 suburbs on this list have highly desirable features, whether that’s close proximity to schools and shops, easy commute to work, or easily accessible to entertainment and recreational precincts.
Source: REIQ Journal, Feb 2019