Queensland is a state with diverse and attractive property markets, offering opportunities for investors and homebuyers alike. Whether you are looking for a coastal lifestyle, a rural retreat or a city buzz, Queensland has something for everyone. But where are the best suburbs for property growth in this sunny state?

In this article, we will look at some of the factors that influence property growth, such as demand, supply, infrastructure and lifestyle. We will also highlight some of the top-performing suburbs in Queensland based on recent data and expert predictions.

What drives property growth in Queensland?

Property growth is influenced by a number of factors, both macro and micro. 

Some of the macro factors that affect Queensland’s property market include:

• Population growth: Queensland has been attracting more interstate and overseas migrants than any other state in recent years, boosting demand for housing. According to ABS data, Queensland’s population grew by 1.63% in 2020-21, compared to 1.25% nationally.
• Economic performance: Queensland’s economy has been resilient amid the COVID-19 pandemic, thanks to its strong agricultural, mining and tourism sectors. According to CommSec’s State of the States report, Queensland ranked third among the states and territories for economic performance in October 2021.
• Affordability: Compared to other capital cities like Sydney and Melbourne, Brisbane offers more affordable housing options for buyers. According to CoreLogic data, Brisbane’s median house price was $616,387 as of September 2021, while Sydney’s was $1.3 million and Melbourne’s was $908,734 

Some of the micro factors that affect property growth in specific suburbs include:

• Supply and demand: Suburbs with low supply and high demand tend to see higher price growth than those with high supply and low demand. Factors that affect supply include new developments, land availability and zoning regulations. Factors that affect demand include population growth, income levels, amenities and infrastructure.
• Infrastructure: Suburbs with good access to transport networks, schools, hospitals, shops and other facilities tend to attract more buyers and renters than those without. Infrastructure projects can also boost property values by creating jobs, improving connectivity and enhancing liveability.

• Lifestyle: Suburbs with desirable features such as natural beauty, cultural diversity, recreational opportunities and community spirit tend to appeal more to buyers and renters than those without. Lifestyle preferences can vary depending on age, family status, income level and personal taste.

Which are the best suburbs for property growth in Queensland?

Based on recent data and expert predictions, here are some of the best suburbs for property growth in Queensland:

Kawana Waters (Minyama)

This suburb on the Sunshine Coast has posted impressive growth of +45.8% in 2021, largely thanks to its prime waterside location. Minyama is home to many luxury properties that attract wealthy buyers from overseas. It also has access to major transport hubs such as Brisbane Airport and Port of Brisbane, making it easy to export goods and services. Minyama’s main industry sectors include tourism, health care, education, and marine engineering.

Coomera 

This suburb on the Gold Coast is one of the fastest-growing areas in Queensland, with a population increase of +10% per year over recent years. Coomera is known for its entertainment and leisure facilities such as Dreamworld, Movie World, Wet’n’Wild, and Coomera Sports Park. It also has a strong education sector with several schools and universities nearby. Coomera’s main industry sectors include tourism, film production, education, and technology.

Toowoomba

This suburb on the Darling Downs is a regional hub for agriculture and manufacturing. Toowoomba has a stable economy with low unemployment and high income levels. It also has excellent infrastructure such as Toowoomba Airport, which offers direct flights to international destinations such as Hong Kong and Singapore. Toowoomba’s main industry sectors include agriculture, food processing, manufacturing, and logistics.

Townsville 

This suburb on the North Queensland coast is a gateway to Asia-Pacific markets. Townsville has a diverse economy with strong growth prospects. It also has a strategic location near major resources such as coal, copper, and zinc. Townsville’s main industry sectors include mining, renewable energy, defence, and education.

Samford Valley

Samford Valley is an acreage suburb located about 21 km northwest of Brisbane CBD. It offers a rural lifestyle with large blocks of land, greenery and wildlife, while being close enough to the city amenities.

Samford Valley has been predicted by Belle Property Queensland head Jon Iceton as one of the suburbs that will grow in popularity this year because of its large blocks of land, community feel and proximity to Brisbane’s CBD.

According to realestate.com.au data, Samford Valley’s median house price was $1.15 million as of November 2021, up by 18% over the past year.

Noosa Heads 

Noosa Heads is a coastal suburb located about 136 km north of Brisbane CBD. It is part of the Noosa Shire Council area, which is known for its stunning beaches, national parks and relaxed lifestyle. Noosa Heads has been one of the strongest performers in Queensland’s property market amid COVID-19 pandemic, achieving an annual house price growth rate of 27%, the highest among all local government areas, according to REIQ data. According to realestate.com.au data, Noosa Heads’ median house price was $1.65 million as of November 2021, up by 29% over the past year. 

Morayfield

Morayfield is a suburb located about 44 km north of Brisbane CBD. It is part of the Moreton Bay Region, which is one of the fastest growing regions in Queensland.

Morayfield has been projected by Investment Property Queensland as one of the suburbs that will grow in popularity this year because of its location, proximity to job hubs, the M1, public transport and affordability.

According to realestate.com.au data, Morayfield’s median house price was $450,000 as of November 2021, up by 25% over the past year.

Caboolture

Caboolture is a suburb located about 50 km north of Brisbane CBD. It is also part of the Moreton Bay Region, and shares similar advantages with Morayfield.

Caboolture exhibited a 23.55 per cent median house price growth for the period covering October 2020 to September 2021, according to Property Market Updates.

The median house price now sits at $435,500, up from $352,500 in the previous year. Despite the increase, the value is still below the general median for Queensland, making it an affordable option for buyers.

Conclusion

Queensland offers a range of property markets that cater to different needs and preferences. Whether you are looking for a rural escape, a coastal paradise or an urban hub, you can find a suburb that suits your lifestyle and budget. 

However, before you make any investment decision, it is important to do your own research and consult with professionals like the friendly team at Ryve Property Services who can help you assess the risks and opportunities involved. Happy hunting!