Vacancy rates in the River City are consistently low, rents are rising, infrastructure spending is on the rise, it’s affordable compared to Sydney and Melbourne, and the northern suburbs are showing strong growth, according to a report by Ryder Property Research managing director Terry Ryder.
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So if you’re looking to hop on the Brisbane train but not sure where to look, here are key suburbs heating up with investor activity right now.
1. Moreton Bay: Petrie, Lawnton
The Queensland state government has earmarked the Moreton Bay region for major growth, which will see greater economic prospects in the long term, Ryder said.
In particular, Petrie and Lawnton stand out.
“Both have median house prices in the low-to-mid-$400,000s, solid price growth (4 to 5 per cent in the past year) and good rental yields. They have train stations on the line linking Brisbane to the Sunshine Coast, a big retail offering, lots of schools and ready access to major green space areas, including those around Pine River and the lakes.
“The game-changer is the new University of the Sunshine Coast campus, now under construction. It will create a major jobs nodes and general big demand for housing accommodation.”
2. Brisbane Northside: Northgate, Nudgee, Nundah
According to Ryder, the Brisbane property market is strongest north of the Brisbane River, with Northgate, Nudgee and Nundah forming a “highly resilient and increasingly popular” precinct with “good long-term prospects for growth”.
“This area attracts consistent demand and has recently out-performed on price growth. These suburbs are on the commuter train line,” he said. “Services and amenities are good and, as we noted earlier in this report, suburbs like Nundah are being increasingly gentrified.”
Units in these suburbs are selling in the $300,000s, and there are opportunities for good rental returns.
3. Ipswich City: Redbank
Ipswich City attracts a steady stream of buyers thanks to its affordability and proximity to jobs, said Ryder, as well as new developments including schools.
“It has major road and rail links to central Brisbane, extensive shopping facilities and affordable homes. The precinct borders high-development growth areas such as Springfield and Brookwater.”
“Employment options are being boosted by industrial estates, especially the $1 billion Citiswich industrial estate.” Many suburbs in Ipswich have houses priced in the $300,000s.
4. Redcliffe Peninsula: Margate
Redcliffe Peninsula’s local property market is getting a boost thanks to extensive high-rise construction activity, with the suburb of Margate popular thanks to its lifestyle, amenities and consistency of buyer demand.
“Margate epitomises the Redcliffe Peninsula lifestyle: frontage to Moreton Bay, lots of parks and green spaces, the Margate Shopping Centre and multiple schools nearby - all accessible at affordable prices for both houses and apartments,” said Ryder.
“The median house price for Margate is $455,000 after a 3 per cent rise in the past 12 months. Typical rental yields are around 4.5 per cent. The median price for apartments is $410,000.”
5. Redland City: Cleveland
Outperforming Brisbane’s overall metro area is Redland City, one of Brisbane’s “leading lifestyle markets” where the suburb of Cleveland lies as the “nerve centre”, according to Ryder.
“[Cleveland] has the hospitals precinct, the performing arts centre and the council headquarters, as well as major retail facilities, multiple schools and lots of green space.”
“Median prices are $595,000 for houses and $390,000 for units, vacancies are low and yields are solid.”
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