Lifestyle, infrastructure lead growth

Lifestyle, infrastructure lead growth

Affordability, infrastructure, education, employment opportunities and lifestyle are driving property price growth across the Moreton Bay Region according to a leading property researcher.

Hotspotting founder Terry Ryder has been analysing the nation’s property market for more than 40 years and says strong demand for property among home-owners, investors and rentals in the region is a constant.

In a report prepared for Moreton Bay Regional Council, Terry says that driven by a strong local economy, interest in the region is likely to grow.

“The region receives twice as many tourists as tourism mecca Noosa and the Moreton Bay marine precinct has more tourists than the Great Barrier Reef,” he says.

“I particularly value spending on major new infrastructure as a generator of economic activity and real estate growth,” Terry says.

“Essentially, real estate markets arise out of conditions in the local economy and Moreton Bay Region is a place of steady growth and employment generation.

“In terms of factors that generate demand and growth, I highly rate the impact of infrastructure, both existing and future.”

Infrastructure the key

Terry says it is crucial that growth is underpinned by infrastructure such as transport, commercial development and health and medical facilities, as well as educational opportunities and employment.

He says the region’s progress so far has been delivered through strong population growth, dwelling construction, manufacturing from key industrial areas such as Brendale, Narangba and Clontarf, and investment in transport, health and education infrastructure.

Terry says The Mill at Petrie – home to a USC campus – three new satellite hospitals; the Wamuran Irrigation Scheme; the North Harbour Priority Development Area, which will be home to a 400-berth marina; and the Scarborough Harbour Masterplan are further opportunities for the region in terms of infrastructure, attracting new residents and visitors and providing employment.

“The education and training sector is in the top five industries for both employment and revenue in the Moreton Bay Region,” Terry says.

“It delivered $1.1 billion in economic benefits in FY2020 while providing jobs for 18,000 workers.”

Terry says most suburbs in Moreton Bay have recorded double-digit price growth in the past 12 months, with standouts including Caboolture with 19 percent growth to reach a median of $405,000, Petrie (16 percent, $510,000) and Kippa-Ring (16 percent, $495,000).

TOP FIVE SUBURBS FOR HOUSE PRICE GROWTH

Redcliffe 22 percent

Margate 21 percent

Caboolture South 19 percent

Banksia Beach 18 percent

Wamuran 17 percent

TOP FIVE SUBURBS FOR UNIT PRICE GROWTH

Caboolture 33 percent

Redcliffe 24 percent

Woody Point 23 percent

Morayfield 20 percent

Clontarf 19 percent

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