Hot Suburbs Within Brisbane, Ipswich and Moreton Bay for New Property Development
As the property development market in Sydney and Melbourne gets weaker, various parts of Queensland are proving themselves to be strong growth markets. In the Price Predictor Index: Winter 2016 report, Queensland was listed as home to half of the top ten suburbs for growth when it comes to property development in Australia.
The property market in Brisbane is expected to enjoy steady growth this year, and is likely to outperform a range of other cities that have been knocked by the drop in the economy. However, this comes with both good and bad news for property investors. Although house prices in Brisbane are expected to rise during 2017, apartment and unit prices are likely to drop, especially due to an oversupply of apartments on the Gold Coast in particular. In Brisbane, the best suburbs to consider for property investment are Moreton Bay, Logan, and Burpengary East, which has been marked as a major suburb for growth thanks to proximity to the city and easy highway access.
Second only to the Gold Coast, Moreton Bay was singled out by the report, which described it as a ‘5-star growth market’. Thanks to a high turnover of property sales and access to more affordable suburbs, Moreton Bay has been one of the strongest growth markets in Brisbane in recent years, quickly overtaking former favourite, Logan. At the time of the report, sales levels in Moreton Bay were overtaking the whole of the Brisbane market. Along with this, Moreton Bay also has a good infrastructure, excellent job prospects and good transport links into major cities.
In the Ipswich region of Queensland, there are various suburbs worth investing in. For example, Goodna has been described as a fantastic place to invest, as the area is a major financial and medical hub, with access to various local amenities such as a train station, major shopping centre, a range of banks and estate agencies, and heaps of things to do in close proximity. Collingwood Park is also an area worth considering thanks to its fairly cheap house prices, and easy public transport connections into Brisbane. Springfield, a popular area with young families, is also likely to become a hotspot for property investors this year.
Thanks to local economy growth in various parts of Queensland, it is becoming a top choice for investors and property developers. This year, the growth market in these parts of Queensland is stronger than many other popular areas.
If you’re interested in property investment, and would like a team of professionals working with you to ensure that the home you build meets your expectations in terms of price, quality and ROI, then contact the OJ Pippin team for more information now.