Whilst properties remain scarce, especially in metro areas, purchasers have begun to look at their investment options further afield. From the latest Property Market Update we can see that coastal properties are soaring in popularity. Across the first half of 2022, Home Units were especially popular on the Gold Coast. This densely populated region offers investors a relaxed, seaside lifestyle with all the luxuries and amenities of inner-city living.
Whereas those investing in Houses also had an interest in the coastal lifestyle, they also looked to suburbs adjacent to the capital city of Brisbane. The update shows an increased presence in locations around the City of Ipswich, like Redbank Plains and Springfield Lakes. The Moreton Bay region, north of Brisbane, also features with the suburbs North Lakes, Narangba, and Caboolture. It isn’t surprising that any of these suburbs are featured within the Top 10 list given their popularity for new builds and the growing attraction to buyers as they offer cost-effective investments.
Whilst the premium house prices and low vacancy rates experienced in Brisbane seem to have stabilised in June, the question remains – where to from here? Queensland has a ten-year deadline to develop and implement a plan to solve these issues prior to the 2032 Summer Olympics. How the complex issue of property availability is tackled remains to be seen. But the hunger for property in the Sunshine State remains unsatiated.
