THE property market in the Moreton Bay Region is the second strongest in the country, outperforming Brisbane and flying in the face of softening markets in the southern states.
Property analyst Terry Ryder of Hotspotting has released his latest Price Predictor Index, which tracks rising sales across Australia each quarter and identifies suburbs likely to deliver strong price growth.
He’s not surprised to see the Moreton Bay Region perform so strongly.
“(The region offers) a combination of affordability, good infrastructure and proximity to job nodes. This is the power combination for real estate,” Terry says.
Of the 32 suburbs listed as Brisbane’s hottest growth suburbs, 10 are in the Moreton Bay Region — Banksia Beach, Beachmere, Bray Park, Burpengary, Clontarf, Joyner, Redcliffe, Rothwell, Strathpine and Woody Point. Terry says many suburbs have experienced price growth of 7-8 per cent, some more than 10 per cent, which is well above the Brisbane average of 1-2 per cent in the past 12 months. Prices in Beachmere, Lawnton, Strathpine and Upper Caboolture have grown by 10-12 per cent.
According to Terry, there are no signs the property market is softening in the region, as has been the case in Sydney and Melbourne.
He says there are consistently more than 400 sales each year in suburbs such as Caboolture, Morayfield and Narangba.
Properties in the $300,000-$400,000 range make these suburbs affordable and appealing.
Terry says there are plenty of good, solid, brick and tile four-bedroom, two-bathroom houses which are low maintenance and close to train lines, shopping centres, government offices and quality schools.
He says a university campus at Petrie in 2020 will be a big factor in future surveys when it opens.
“People with an eye to the future would be taking that into account,” Terry says.
He says the Petrie, Lawnton and Kallangur precinct already has plenty to offer, with access to rail, the Bruce Highway and a big retail offering. But the university will be a game changer because it will boost the local economy, create jobs and generate demand for accommodation and housing.
At present, buyers are looking for housing close to work. The region offers this because it is close to Brisbane Airport and the Port of Brisbane. “This is the biggest jobs node in the Brisbane area and an easy commute from the Moreton Bay Region,” Terry says.
The region is also home to large shopping hubs and industrial precincts which are also jobs hubs, with the university still to come.