Brisbane's Next Boom Suburbs
The boom suburbs tipped to achieve phenomenal capital growth have been revealed as Brisbane prepares for a massive jump in house prices, with buyers in these markets set to earn up to $215,000 in the next three years.
Househunters would be wise to start looking in Red Hill and Keperra, where one property expert predicts house prices will grow by a whopping 25 per cent by 2022.
Select Residential Property Research Group has identified the top 10 suburbs for house price growth in the nation’s three major capital cities — with Brisbane coming out on top.
SRP research director Jeremy Sheppard said the research found median house prices in the top Brisbane suburbs could grow between 23 per cent and 25 per cent over the next three years.
It supports research by BIS Oxford Economics, which forecast 20 per cent growth in Brisbane property values in the next three years.
Mr Sheppard said SRP’s research was based on demand versus supply metrics using data collected from realestate.com.au, Corelogic and the bureau of statistics.
“Red Hill and Keperra were the winners for forecast growth over the period with median house prices potentially increasing by about $215,000 and $130,000 respectively,” Mr Sheppard said.
The inner-city suburb of Red Hill has a median house price of $851,016, while Keperra, only 9km from the CBD, has a more affordable median house price of $535,195.
Mount Gravatt and Rochedale South are also expected to record strong house price growth of 24 per cent by 2022, along with Arana Hills in Brisbane’s northwest.
All three suburbs have median house prices of less than $635,000.
Morningside, Chermside West and Tingalpa have also been selected by SRP as having serious growth potential.
Mr Sheppard said he was surprised Red Hill topped the list given its proximity to the city and higher price bracket.
“It’s the odd one out,” he said.
But the other suburbs were more affordable and all in Brisbane’s middle ring.
Mr Sheppard said it was a good time to invest in Brisbane, although he did not expect the city to experience a boom in prices similar to what Sydney and Melbourne had seen.
Are you looking to purchase a home or wanting to know what your house is worth? Send me a message HERE, and I will be happy to assist.
The above information has been sourced from Realestate.com.au. To read the full article CLICK HERE.