Friday, March 20 2015
Two recent reports have flagged the strongest areas for price growth in Queensland. The results will no doubt be a surprise to many as they bust some myths about the best areas for growth.
The latest data from Real Estate Institute of Queensland (REIQ) reveals that Ipswich ranks as the strongest Queensland price growth region. Ipswich's median house price increased by 6.7% over the quarter, the largest gain recorded by any area across Queensland.
Brisbane’s while improving only moved by 3.4% over the same period.
Meanwhile Hotspotting’s latest price predictor report has Logan City as the number one predicted growth region in Australia. The Price Predictor Index is a tool based on trends in sales volumes which provide an indicator of future price movements.
Logan City has more growth suburbs than any other Local Government Area in Australia with 4 of the nation’s top 30 rising suburbs. Hotspotting puts Logan’s performance down to its affordability, good road and rail links, proximity to jobs nodes, and abundance of schools and shopping options.
These reports again bust the myth that the closer you are to the CBD the better the growth. Unfortunately many would be investors turn their nose up at areas like Ipswich or Logan City because of preconceived ideas about the market or potential tenants without any actual data to back up their beliefs.
I’m not certain of the origins of this myth but often when we ask people what their investment plans are – many say they want to buy close to the city because they believe that’s where you obtain the best growth.
Our own research tells us that good growth opportunities exist in many places and if you limit your focus to inner city only then you are cutting yourself off from significant upside gains.
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