Strong Growth for Moreton Bay Property Market
The Moreton Bay Region was one of Greater Brisbane’s most outstanding property markets in the past 12 months, according to the latest Hotspotting report by a leading real estate researcher.
The report named the region as one of the top five real estate hotspots to watch in Brisbane from July to November, alongside Ipswich, Redlands, Logan and the Olympic precinct in Brisbane’s inner south.
It found 33 of the Moreton Bay region’s 42 suburbs experienced median house price growth of more than 20 percent in the 12 months to April this year, with 12 of those suburbs showing increases of more than 30 percent, led by Woorim, which rose by 48 percent.
Banksia Beach, Burpengary East, Everton Hills and Redcliffe all rose by 35 percent.
Hotspotting founder Terry Ryder describes the region as “one of the most compelling locations in the high-growth market of Greater Brisbane - and within it the Lawnton-Petrie precinct is a stand-out”.
The Suburb of Deception Bay in particular – and Moreton Bay South as a whole – is proving to be a boom suburb for profitable sales results.|
“In April 2022, Deception Bay was the top performing region in Queensland in the past 12 months for month-on-month home value increases, according to PropTrack data.”
Morayfield, Deception Bay, Kallangur, Narangba and Caboolture each recorded about 400 sales in the past year, with Caboolture ranking first with 618 houses sold in the period.
Banksia Beach’s median house price of $845,000 was based on 192 sales, with significant median price increases in Beachmere and Clontarf, both up 34 percent to $580,000 and $640,000 respectively.
Median house prices in Burpengary East and Everton Hills rose by 35 percent to $725,000 and $830,000, while Lawnton, based on 81 sales, rose 32 percent and Petrie, with 172 sales increased by 28 percent.
article by Jody Powell
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