If you haven’t heard the news yet, Queensland property is booming! And why wouldn’t it? With its irresistible climate, turquoise coastlines and rich hinterlands, it’s really no surprise people are leaving other capital cities and discovering the sunshine state in droves. In fact, Queensland’s population growth is the highest it’s been in 16 years.
So which might be the best investment suburbs in Queensland right now, and what should you look for in a promising suburb?
First, the overall stats. Queensland property on the whole delivered an impressive property price increase of 6.1% across almost every region over the final quarter of 2020, according to REIQ’s Queensland Market Monitor. The Sunshine Coast, Brisbane and Gold Coast have all seen populations and property purchases thrive over the past 18 months. Open Agent has identified suburbs including Brighton, Albany Creek, Keperra, Alexandra Hills and North Lakes as particularly robust for 2021 investments.
You don’t need to stick to the major cities to see growth, though. Areas such as Caloundra, Toowoomba, Townsville, Gladstone and Mackay have all been noted as having rising sales activity even amongst the COVID-19 chaos. In 2020, Open Agent mentioned real estate in Mackay as worth watching thanks to its diversified economy, falling unemployment levels and construction projects in the works. In particular, as of March 2020 West Mackay had posted 12 month gains of more than 13% in the median house price which indicated great returns for Mackay investments.
So which Queensland suburb or region is right for you if you’re thinking of investing right now? While this will ultimately depend on your preferences and circumstances, there are a few aspects that can help to identify a promising property market…
Tips for identifying high-growth property potential
When assessing any Queensland real estate for its investment potential, look for the following:
- Large infrastructure projects that encourage employment and industry, such as Mackay’s Ring Road project and the Whitsunday Coast airport upgrade
- Increases in rental yield, which can indicate a rise in population and popularity of the area
- How much land value increases per year, both in the short and long term
- Days spent on the market for existing properties, and how this changes over time.
If you are considering building a new home or buying in Mackay’s prime location, be sure to consider Plantation Palms in Rural View. This area offers easy proximity to both white-sanded beaches and deep green forests, as well as a flourishing employment and social scene. You can take a look at great value house and land packages for a simple way to build, or visit Plantation Palms Land Display Centre on Monday, Friday or Saturday from 10am to 4pm.