Brisbane's Growth Star Suburbs
Twenty suburbs have been named Brisbane’s growth stars with values set to rise off a surge in housing demand – and seven also performed strongly for the apartment sector, the latest industry survey has found.
The Spring Price Predictor Index – released by analysis firm Hotspotting today, saw Brisbane’s North named one of the top 10 growth zones in the country, alongside the Sunshine Coast, Sydney’s Northern Beaches, Bendigo in Victoria and Belconnen in Canberra.
The prospects were so good for Brisbane’s north, it was the only part of the Queensland capital with “no declining or danger markets”, the index report said.
“The Brisbane North precinct is the most active part of the Brisbane market, which is poised for stronger growth.”
Alderley, Algester, Annerley, Arana Hills, Banyo, Bardon, Birkdale, Bracken Ridge, Kedron, Murrumba Downs, Norman Park, Ormiston, Paddington, Petrie, Rochedale, Sandstone Point, Stafford Heights, Taringa, Tarragindi and Warner were declared star performers for houses.
Rising market were ones “where sales activity is increasing, which is generally a precursor to prices increasing”, a Hotspotting spokeswoman said.
“Rising markets are good places to buy. Plateau markets are the ones where sales volumes have settled down but there is still potential for price growth. Decline and danger markets are the ones to avoid.”
Half of the Brisbane suburbs with growth trajectories were either in Brisbane North (the middle market north of the river) or the nearby Moreton Bay Region.
The much maligned apartment sector was also seeing some good growth out of seven suburbs, including bluechips like Queensland’s most expensive suburb Teneriffe, and millionaire zone Paddington. Alderley, Annerley, Kedron, Norman Park and university suburb Taringa were all star unit risers.
Hotspotting head Terry Ryder flagged five “danger” markets in Brisbane – where prices were in decline, sales activity had dropped sharply and vacancies were marked as high. Just one of those five – Fig Tree Pocket – was for houses, while the other four Albion, Bowen Hills, Fortitude Valley and Spring Hill all concerned unit market activity.
The “decline” markets category showed “locations where the previous price growth will cease and in some cases prices may fall”.
“We felt there needed to be a stage between “plateau” markets (those where sales activity has passed its peak but settled at solid levels below the peak) and “danger” markets (those where sales activity has dropped sharply, prices are falling and vacancies are high).”
“The “decline” markets are those which have passed their peaks, but sales levels have not plateaued – they have continued to decline markedly, with demand falling steadily.”
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The above information has been sourced from Realestate.com.au. To read the full article CLICK HERE.