Affordable towns and suburbs across Queensland have emerged as the shining stars of the property boom, with strong growth markets now emerging in some unlikely places.
From family budget-friendly suburbs on the Gold Coast to tourist and outback towns and affordable suburbs in major regional cities, 17 of Australia’s top 100 ‘supercharged’ suburbs are in regional Queensland.
“Seventy per cent 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.”
The surprise figure comes despite evidence that the red-hot Gold Coast and Sunshine Coast markets are easing, with the strongest growth markets now in north and central Queensland, according to the report.
“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 a diverse mix, and spread right across 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 of the standout towns are little-known places such as Biloela, Gatton, Chinchilla, Dalby and Gracemere, as well as suburbs of Townsville, Gladstone and Toowoomba.”
Affordable suburbs in Brisbane were also among the nation’s best performers, according to the report.
There are now more than 30 suburbs in regional Queensland, which includes the Gold Coast and Sunshine Coast, with median prices north of $1 million, with Sunshine Beach now Queensland’s most expensive suburb at $3.1 million.
Fourteen of the 15 suburbs across Townsville are now considered to be rising markets, while 20 of Cairns’ 25 suburbs are also on the rise.
All of suburbs surveyed in Mackay and the Whitsundays are surging ahead, as are those in Rockhampton.
Toowoomba (11 of 16) and Bundaberg (7 of 11) continue to see rising sales activity , while Gladstone has transitioned from recovery to boom, with nine of its 12 suburbs now classified as rising markets.
Mr Ryder said prices were rising “almost everywhere in regional Queensland”.
He said that all of the 265 locations analysed for the report had recorded median house price growth in the last quarter, with all but three delivering annual growth.
“Among the house markets, 77 per cent recorded double digit annual growth in their median prices and 26 per cent of locations had growth above 20 per cent,” he said.
“In the apartment markets, 97 per cent of locations recorded annual growth in their median unit prices.”