The top places to invest in Queensland

Sep 2022Karen Millers

There are a number of reasons that Queensland is a hot spot for investment right now.

The province managed to weather COVID-19 pandemic lockdowns, it has been a magnet for Australians migrating from other areas for a change in lifestyle, and it has been confirmed as the host of the 2032 Olympic Games. So, if you’re thinking about investing in Queensland, here is what to look out for.

How is the Queensland area for investment?  

Queensland is an area that is ripe for investment, with the property market showing consistent growth after steadily increasing over the past few years. While other Australian provinces suffered through COVID-19 lockdowns for months on end, Queensland managed to remain open for business, making it an ideal spot for interstate migration and spurring population growth faster than predicted. This also resulted in a housing shortage.

For this reason, more and more people are getting in on the housing market. Some 58% of people say that Queensland offers the best investment prospects over the next 12 months, according to a survey conducted by Property Investment Professionals of Australia. That is a significant increase compared to the same survey conducted the year prior, which found that 36% saw Queensland as offering the best investment prospects.

Brisbane

Brisbane has emerged as a national growth leader in Australia, recording the fastest rate of price growth in the country by the end of 2021. And with recent confirmation that the Queensland capital will host the 2032 Olympic Games, that growth is expected to continue.

Brisbane benefitted from an elevated infrastructure spend, success in resisting the COVID-19 pandemic—and subsequent, nationwide lockdowns—and interstate migration at nation-leading levels. There is also growth in each precinct and across all price points, with spikes in sales activity in the more affordable regions of Ipswich City, Logan City, and the Moreton Bay area. Typically undervalued, the Redcliffe Peninsula is expected to rise as well in 2022, as well as the city’s northside.

And if previous Olympic Games are any guide, the hosts usually see spikes in real estate in the lead up to the big event. That means that there should be high growth rates in the suburbs in close proximity to the main sporting venues, thus putting Woolloongabba, Annerley, and East Brisbane at the forefront for growth.

In sales activity and price growth, Regional Queensland is becoming a national leader, with swaths of Australians heading north for the lifestyle in places like the Sunshine Coast, the Gold Coast, Townsville, and Hervey Bay. In Central Queensland, communities like Bundaberg, Gladstone, and Rockhampton are expected to continue growing in 2022.

Sunshine Coast

Up until recently, the Sunshine Coast has struggled with housing availability. Prior to the COVID-19 pandemic, the vacancy rate here was less than 2%. Currently, however, the vacancy rate is less than 1%, making for an exceedingly competitive housing market.

If you want to build wealth through investment properties across the Sunshine Coast, now is a good time to take advantage of the low vacancy rate. Because new housing developments are being fast-tracked in the region—in some cases a few years ahead of schedule—there will be hundreds of opportunities for investment if you are savvy.

Property analysts SQM Research found that dwelling prices on the Sunshine Coast were up by more than 17% this time last year and that weekly rents increased by more than 28% throughout 2021. SQM Research also predicted that the Sunshine Coast will grow by more than 12% over the entirety of 2022.

Gold Coast

Known for its stunning beaches and its tourism, the Gold Coast is the sixth largest city in Australia and is growing fast. For these reasons, the Gold Coast is fast becoming a favourite for both investors and homebuyers. In fact, property prices have continued to increase despite the COVID-19 pandemic and subsequent lockdowns across Australia. Between 2020 and 2021 alone, median house prices increased in the Gold Coast by 22%.

While now growing in value so much they are nearly unattainable for many homebuyers, hotspots like Ormeau, Coomera, and Pimpama were well priced and more accessible to most homebuyers not that long ago. And these areas are predicted to continue growing. With Brisbane set to host the 2032 Olympic Games, suburbs across the Gold Coast are expected to benefit as well—likely doubling in value in the lead up to the Games.

Property analysts SQM Research found that dwelling prices in the Gold Coast were up by more than 12% this time last year and that weekly rents increased to over 27%. SQM Research also predicted that the Gold Coast will grow my more than 7% in 2022.

Originally Published: Jonathan Russell | Broker News | 24 September 2022

https://www.brokernews.com.au/news/breaking-news/the-top-places-to-invest-in-queensland-281082.aspx

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