The shining stars of the recent property boom have surprisingly been affordable towns and suburbs across Queensland. With several strong growth markets emerging in some very unlikely places.
Everything from family budget-friendly suburbs on the Gold Coast to more touristy and outback towns and more affordable suburbs in major regional cities. Out of Australia’s top 100 ‘supercharged’ suburbs, 17 are in regional Queensland.
“Seventy percent of locations in regional Queensland have increasing sales activity, with a record 179 locations categorised as rising markets,” the report by Terry Ryder of hotspotting.com said.
“Prior to 2021, the highest number of rising markets in our quarterly surveys of Regional Queensland was 72.”
This figure comes as somewhat of a surprise as evidence suggests that the red-hot Gold Coast and Sunshine Coast markets are easing, according to the report the strongest growth markets are now believed to be in the north and central Queensland.
“The Gold Coast remains a strong market, but a little less so than before,” the report said.
“The number of rising suburbs in the past three surveys have been 37, 30 and now 28.”
“The Sunshine Coast, a growth market for the past three years and still a national leader on price growth, has 21 suburbs with rising momentum but also 24 plateau markets – which suggests this market may have peaked.”
“But nearby Gympie remains a surging market, with five of its six suburbs rising.”
Mr. Ryder said that Queensland’s ‘supercharged suburbs’ (the places showing the strongest growth patterns over consecutive quarters and most likely to deliver future price growth) were also quite a diverse mix, and spread throughout the Sunshine State.
“From Pimpama and Varsity Lakes on the Gold Coast to Cairns North and Port Douglas in the tropical north,” he said.
“Some standout towns are little-known places such as Biloela, Gatton, Chinchilla, Dalby, and Gracemere, as well as suburbs of Townsville, Gladstone, and Toowoomba.”
There are now officially more than 30 suburbs in regional Queensland, including the Gold Coast and Sunshine Coast, with median prices north of $1 million.
Sunshine Beach is now officially Queensland’s most expensive suburb, with a $3.1 million median house price. Fourteen of the 15 suburbs across Townsville are now considered to be rising markets, also 20 out of Cairns’ 25 suburbs are also on the rise.
All the suburbs in Mackay, Whitsundays, and Rockhampton are all also increasing in average price. Toowoomba has 11/16 suburbs on the rise, while Bundaberg has 7/11 suburbs rising. Gladstone however has completed its transition from recovery to boom, with 9 of its 12 suburbs now classified as rising markets.
Mr. Ryder said prices were rising “almost everywhere in regional Queensland”.
He said that all the 265 locations analysed for the report had recorded house price growth last quarter, with all but three suburbs delivering annual growth.
“Among the house markets, 77 percent recorded double-digit annual growth in their median prices and 26 percent of locations had growth above 20 percent,” he said.
“In the apartment markets, 97 percent of locations recorded annual growth in their median unit prices.