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The 10 best areas to invest in real estate (Queensland extract)
Residential Developer | October 2008
Coastal towns, urban inner city apartments and infrastructure-linked suburbs top the list from around the country of places providing the best opportunities for investment growth by RP Data’s Residential Retail Director, Tim Lawless. The following outlines the top spots in Queensland - 4 of the top 10 and more than any other state - where sinking your money is likely to yield positive returns.
The Redcliffe Peninsula
The peninsula is within easy commuting distance of Brisbane and presents an exceptionally affordable housing market. Housing stock ranges from workers cottages on small lots to modern architecturally designed homes to unrts. The suburbs of Woody Point, Margate and Redcliffe all have median house price around the mid $300,000's.
The sheltered beaches are usable for swimming, fishing and boating while the foreshore is dotted wrth parks. The coastal strip, which runs along most of the eastern length of the peninsula has a burgeoning cafe and restaurant scene which is becoming increasingly popular as a destination. To top it all off, the Houghton Highway Bridge is being duplicated which will cut travel times onto the Gateway Motorway leading into the Brisbane Airport and Brisbane CBD.
Coolangatta / Tweed Heads
The recent opening of the Tugun bypass has had an immediate effect on the traffic conditions within the southern strip of the Gold Coast and into the Tweed Coast. New development and increased investment activity will continue to push prices upwards in this strategic and affordable area of the Gold Coast that is also renowned for its surf beaches.
The median unit price at Coolangatta is $430,000 which compared to areas of the coast further north, provides good value buying in this market.
Thuringowa (Townsville) Due to the recent council amalgamations, Townsville and Thuringowa are now one combined Local Government Area under the banner of Townsville. The region formerly known as Thuringowa is experiencing stronger population growth than Townsville and more affordable prices points.
The coastal suburb of Saunders Beach is a good example. Median house prices are just $367,000 and several sales have gotten close to reaching one million dollars last year. The combined region of Townsville and Thuringowa has arguably the most diversified regional economy in Australia which should continue to underpin population growth which will create ongoing demand for housing in the region.
Beenleigh (Gold Coast-Brisbane Corridor)
At present the greater Beenleigh market, particularly suburbs such as Eagleby, Beenleigh and Mount Warren Park, represent some of southeast Queensland's best property bargains. Although the area is not attractive to everyone, it offers first-homebuyers an opportunity to enter the market at an affordable price point and provides investors wrth a low entry price investment opportunITy with strong capital growth potential.
The median house and unit price in greater Beenleigh - also taking in Eagleby and Mount Warren Park - have risen by more than 20 per cent per annum over the last five years to reach $310,000 for houses and $214,000 for units. Transport infrastructure that services the area includes the M1 Motorway which links Brisbane to the Gold Coast and the Brisbane - Gold Coast railway line. Within a short drive is the Gateway Motorway on-ramp that links with the Airport and Sunshine Coast.
Also within a short drive is the Logan Motorway which provides a direct link with the western suburbs. It is very rare to find a location with such a wide variety of transport linkages. Immediately south of the Beenleigh area is the Yatala Enterprise Area (YEA). The YEA represents the largest industrial area within the Gold Coast and its workforce is projected to quadruple over the next decade to 16,000 workers providing a large captured working population to feed the rental market.
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