Are you sure of investing in Queensland or yet wondering whether or not now is the right time to invest looking at the higher median price and market trends?
Queensland has performed exceptionally well amidst the wrath of nature being Covid 19. It has proved how resilient a property market can be. The pandemic surely shook the economies world wide but when it comes to the economy of Australia’s Queensland it has recovered well by the end of the year 2020 itself. The property market is rising, employment opportunities are increasing and due to the remote working trend, many people are getting attracted towards the suburbs of Queensland and its lifestyle. It sure is not way affordable state in Australia but it is worth the money. Queensland is still recouping the loss incurred due to less tourism last year and yet going on. Well! Apart from all these, research shows that it is one of the finest times to invest in Queensland’s real estate market as it is predicted to grow more and more in upcoming years. Even the interest rates are low in some segments for now. The demand will increase with increasing population, opportunities, etc.
Having said that, Let’s understand where you can consider investing in Queensland for 2021 or 2022. When it comes to property investment please remember that it is a long term investment and shall be held on for a longer duration to earn great capital gains and growth. Now note that the information recorded here is purely educational based. You must consult an expert prior to your final decision on investment. The list mentioned here is not ranked as we do believe that there can be more to this based on individual perspectives. Hence, the more you research and the more you gain knowledge the better and informed your decision will be.
Let’s roll in!
What are Queensland’s Best Cities or Suburbs?
Brisbane:
Capital City, Brisbane unarguably tops the list when Qeensland comes into picture. Brisbane lies in the center of South-East Queensland. Brisbane has managed to maintain its position of being the capital city of Queensland in all forms even after all the crash due to Covid 19.The real estate market in Brisbane has shown substantial growth with an equally resilient economy and other factors as well.
Brisbane’s population is 2.5 Million people as per 2020. The median house and unit prices of Brisbane are $678,236 and $550,500 respectively. The median rent per week for Brisbane in 2021 is recorded at $415 for houses and $395 for units. Brisbane has shown an average annual growth rate of 6.8% this year with a Gross Rental yield of houses at 5.2% and for units at 3.8%. Capital gains shown by Brisbane is 18.3%. You can also check out which suburbs are worth considering for investment in Brisbane.
Cairns:
Cairns City is a popular tourist destination located on the East Coast of North Queensland. Cairns is most famous for its tropical rainforest and the Great Barrier Reef which is one of the seven natural wonders worldwide. Cairns is also one of the major ports and commercial centres for North Queensland.
Cairns’s population is 276,091 people as per 2021. The median house price in Cairns is $350,000. The median rent per week of Cairns in 2021 is recorded at $480 for houses as per smartpropertyinvesment.com. Cairns has shown an average annual growth rate of 8.86% this year with a Gross Rental yield of houses at 7.6% which is one of the highest in Australia. Capital Gains have been recorded 2.94% for the past year.
Toowoomba:
Toowoomba, also famous by the name of The Garden city, is located in Darling Downs of Queensland. Toowoomba is considered to be the second most populous inland city in Queensland with a population of 136,861 people. Though having a warm and humid subtropical climate, Toowoomba is referred to as cooler than any other cities of Queensland. It is also one of the major education centers.
Toowoomba’s median house and unit prices have been recorded at $424,000 and $280,000 respectively with an average annual growth rate of 4.29% for houses and 3.53% for units. Toowoomba’s median rent per week for houses and units are $350 and $253 respectively and gross rental yield of 4.29% and 4.69% for houses and units. Toowoomba has recorded amazing Capital Gains of 41.33% last year.
Redland Bay:
Redland Bay is a semi-rural locality on the south end of Redland city. Redland bay is also rich in sports and parks. Redland Bay’s population is 14,958 people as per 2016.
The median house and unit prices of Redland Bay are $610,000 and $490,000 respectively. The median rent per week in 2021 is recorded at $500 for houses and $400 for units in Redland Bay. Redland Bay has shown an average annual growth rate of 2.43% for houses and 2.29% for units with a Gross Rental yield of houses at 4.26% and for units at 4.24%. Capital gains shown by Redland Bay is 10.9%.
Toowong:
Toowong is a suburb of Brisbane located between Mount Coot-tha and the Brisbane River, made up of rolling hills with flat land with a population of 10,820 People as per 2016 census. Toowong is primarily residential along with a variety of medium density dwellings and Queenslander style detached houses. Toowong has excellent transportation facilities.
Toowong’s median house and unit prices have been recorded at $1,100,000 and $452,000 respectively with an average annual growth rate of 5.08% for houses and 1.14% for units. Toowong’s median rent per week for houses and units are $575 and $400 respectively and gross rental yield of 2.72% and 4.60% for houses and units. Toowong has recorded Capital Gains of 15.30% last year.
Surfers Paradise:
Surfers Paradise is a Coastal town in the city of Gold Coast famous for its high rise apartments and surf beaches. Surfers Paradise is also famous for its wonderful entertainment and tourism. There are many fun and interesting facts about Surfers Paradise which you will come across while researching. Surfers Paradise signifies its name very well and it comes along with a stable Real Estate market.
Surfers Paradise’s population is 23,689 people as per 2016. The median house and unit prices of Surfers Paradise are $1,522,500 and $415,600 respectively. The median rent per week in 2021 is recorded at $740 for houses and $420 for units in Surfers Paradise. Surfers Paradise has shown an average annual growth rate of 1.81% for houses and 1.13% for units with a Gross Rental yield of houses at 2.53% and for units at 5.26%. Capital gains shown by Surfers Paradise over last year is 1.50%.
Nambour:
Nambour is a suburban town sited in the Sunshine Coast Region with a total population of 11,187 people as per 2016 census. Nambour serves as an administrative center of Sunshine Coast Region. Though being a small town it has almost all the amenities to facilitate the lives of residents. Nambour also has a very good Demand to Supply Ratio. A lot of Australian notable politicians and sports persons and artists have belonged to Nambour.
Nambour’s median house and unit prices have been recorded at $478,000 and $320,000 respectively with an average annual growth rate of 3.97% for houses and 3.13% for units. Nambour’s median rent per week for houses and units are $440 and $335 respectively and gross rental yield of 4.79% and 5.44% for houses and units. Nambour has recorded Capital Gains of 14.61% last year.
CONCLUSION
There are many such cities and suburbs in Queensland that have proven to be a great investment choice. A thorough research and comparative analyses can help you make more informative and better investment decisions. We suggest you analyse at least 10 years of market performance to understand which cities or suburbs have proved themselves in the past and which cities or suburbs have a great potential to grow in future.
- We recommend you to finalise your personal hotspots based on your requirements, needs and Budgets.
- To yet get a better idea you shall know what all factors can add to choose your investment property Smartly.
- From an investment perspective, you should select an asset where the land represents 70% of the value of the property, with 50% as the minimum. Before you make any final decision you must do your thorough research and check out previous years’ performance of the suburbs as well to get better clarity at it.
- We suggest you speak with an expert prior to your investment to get elaborate and clear intimation of how your investment decision can turn the tables.
- Also check into the DSR(Demand to Supply ratio) of the areas shortlisted by you as some may look lucrative to invest but the DSR could be low which may lead to higher vacancy rates.
We hope you were able to get a little better clarity on the basis of this article. We understand there are many other options that could be good based on your requirements. Mention down if you have invested in Queensland properties so far then we are sure all the readers would be glad to know and understand that.
