Queensland's booming property growth
Rental performance and suburb growth in 2019.
Queensland has become a rental property hotspot with 42 suburbs listed in the top 100 best performing suburbs across Australia.
The suburbs, which topped CoreLogic’s Top Rental Performers Report, came from across the state with Blackwater, located in Queensland’s Central Highlands Region, topping the list.
Blackwater achieved a rental yield of 11.7% against a median value of $122,165.
The suburbs of Woree (10.8%), Manunda (9.5%), Bungalow (8.7%) and Moranbah (8.7%) rounded out Queensland’s top 10 performing suburbs.
Real Estate Institute Queensland CEO Antonia Mercorella said Queensland had shown resilience and steady growth in the rental market.
“Queensland continues to offer investors ample opportunity in terms of strong rental yields, consistent rental growth and vacancy rates,” Ms Mercorella said.
“This, combined with an increasing rental population thanks to rapid local migration, makes Queensland an appealing option for investors.”
Ms Mercorella said it wasn’t surprising that Queensland dominated the Top Rental Performers Report.
“Compared with Sydney and Melbourne, Queensland provides a strong return on investment over the medium and long term for investors,” she said.
Brisbane has also experienced tremendous growth with 20 suburbs named growth stars in The Spring Price Predictor Index.
The index found values were set to rise following a surge in housing demand and strong performance in the apartment sector.
Of the top-performing suburbs, Brisbane’s north was named in the top 10 growth zones in the country along with the Sunshine Coast.
The report revealed Brisbane’s north primed for stronger growth as the only area with no declining or danger markets.
Prospective homebuyers should consider the suburbs of Alderley, Algester, Annerley, Arana Hills, Banyo, Bardon, Birkdale, Bracken Ridge, Kedron, Murrumba Downs, Norman Park, Ormiston, Paddington, Petrie, Rochedale, Sandstone Point, Stafford Heights, Taringa, Tarragindi and Warner, which were also revealed as star performers.
In the apartment sector, seven suburbs – Alderley, Annerley, Kedron, Norman Park, Paddington, Tenerife and Taringa – were also star performers.
It was not all good news, with the suburbs of Albion, Bowen Hills, Fig Tree Pocket, Fortitude Valley and Spring Hill all on the decline.
Queensland’s top rental performers
- Blackwater 11.7%
- Woree 10.8%
- Manunda 9.5%
- Bungalow 8.7%
- Moranbah 8.7%
- Holloways Beach 8.1%
- Westcourt 8.0%
- Park Avenue 7.7%
- Mooroobool 7.6%
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