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These are the top 10 affordable suburbs in south-east Queensland

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Broadbeach Waters, Qld., Sep. 6, 2021 /Medianet/ --

These are the top 10 affordable suburbs in south-east Queensland

 

Despite the COVID-19 virus and related impacts on the Australian economy, the south-east Queensland property market is strongly forging ahead.

 

However, there are still irresistible pockets of affordable houses that are around 70 per cent of the median price for the capital city, according to Pete Wargent, co-founder of national property buyer’s agency BuyersBuyers.com.au.

 

Mr Wargent said that “with mortgage rates still close to the lowest on record all capital cities offer some opportunities for those with a reasonable buffer and a level of employment security”.

 

“With first homebuyers still active and now competing with investors for a low level of stock on the market we expect affordable suburbs to be sharply in focus” Mr Wargent said.

 

RiskWise Property Research has undertaken an in-depth analysis into the housing market identifying the top 10 affordable suburbs in south-east Queensland.

 

The analysis clearly showed that detached houses represented solid buying opportunities for those with long-term strategies.

 

Mr Wargent of BuyersBuyers said “prices have increased over the past year but there are still areas where bargains can be found, and if you have a long-term strategy you can still expect solid capital growth over the next few years”.

 

“There are decent opportunities out there for buyers looking for houses with high land value as a proportion of the property, and a strong component of scarcity, especially if they intended to hold on to the property for several years or longer”.

 

“In addition, the current ultra-low interest rates have created a unique environment where buying a house in many areas was cheaper than paying rent on one” Mr Wargent said.

 

The top 10 suburbs for affordable houses in south-east Queensland included a range of suburbs at around 70 per cent of the median capital city house price for the state.

 

Figure 1 – The Top 10 affordable suburbs in south-east Queensland

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Mr Wargent said that more affordable areas have been sharply in focus as the number of first homebuyers in the market had recently surged to decade highs. 

 

Boondall, Bald Hills, Strathpine, and Wynnum West, in particular, are all less than 20km away from the CBD and have all enjoyed price growth of more than 20 per cent over the past five years.

 

While Nambour is close to 100km from the city centre, it is a popular lifestyle opportunity, especially for those working remotely and houses can be bought for around $500,000.

 

Mr Wargent of BuyersBuyers said “COVID-19 has also helped to accelerate ‘work from home’ opportunities, meaning that owner-occupiers can take advantage of ‘lifestyle’ prospects instead of being so closely tied to employment hubs”.

 

“Before COVID-19 hit, there was already a strong trend of sea- and tree-change homebuyers looking for the best of all worlds – lifestyle, accessibility to employment hubs and affordable housing. The pandemic has simply accelerated this trend. In Queensland, the areas that attract those lifestyle buyers include the Gold Coast and Sunshine Coast”.

 

Mr Wargent said now was the perfect time to take advantage of the conditions before things changed and the property market began to move again.

 

“There are areas where bargains can be had and if you have a long-term strategy you can expect solid capital growth over the next few years,” Mr Wargent said.

 

“There are many opportunities for buyers looking for houses with high land value as a proportion of the property, and a strong component of scarcity, especially if they intended to hold on to the property for several years or longer”.

 

“This is particularly the case in southeast Queensland which traditionally enjoys strong internal migration and which will certainly be the case once the borders full open and things return to normal.

 

“In addition, the current ultra-low interest rates have created a unique environment where buying a house in many areas has been cheaper than paying rent on one.”

 

However, Mr Wargent noted that while opportunities abounded in the detached house market, risks were materially higher in the unit market, on average.

 

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Please Note: This list is based on suburbs that are around 70% of the median price and suburbs with at least 1,000 houses in the existing stock. It should be noted that the lower end of the market presents different types of risks.

 

ENDS

 

 

For all media enquiries, contact BuyersBuyers.com.au Media Manager Alison Sollory, alison.sollory@buyersbuyers.com.au

 

Visit www.buyersbuyers.com.au

About BuyersBuyers

 

BuyersBuyers connects people looking to buy property with some of the best buyer’s agents around Australia. Our aim is to level the real estate playing field, and our national network of top buyer’s agents is the biggest in Australia.

 

All our buyer’s agents are licensed, experienced, and are committed to working in the best interest of our clients. We offer great value for money with very competitive and affordable fees and no commissions. What you see is what you get. That’s why we are quite simply, ‘the better way to buy property.

 

 

 

 

 

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