Connect with us

Market Place

Which suburbs are seeing high interstate migration?

Published

on

Which suburbs are seeing high interstate migration?
Everyone wants a slice of a capital city, but some people just cannot afford it. Instead, people are moving to other affordable areas located in greater capital city areas. Here’s the latest data on interstate migration movements.

Analysed by Propertyology, the interstate migration figures indicate to head of research Simon Pressley that interstate migration is a trend that is likely to continue for years to come as people look for affordable property.

“The Great Australian Dream is alive and well and the latest data proves that people are prepared to uproot and move to make that dream a reality,” Mr Pressley said.

“The big winners are affordable locations within our capital cities with thousands moving either intra- or interstate to get a foot on the property ladder.

“Affordability will continue to be the deciding factor for buyers in the years ahead, which augurs well for many of these outer-ring locations.”

Here’s the movements in some of the biggest markets around the country:

Brisbane

The biggest movements for the greater Brisbane area were Moreton Bay with 5,110 arrivals and a median house price of $455,000, Ipswich with 2,332 arrivals and a median house price of $345,000 and Redlands with 1,237 arrivals and a median house price of $531,000.

Mr Pressley pointed out that the state of Queensland was currently undergoing an interstate migration boom, seeing over 17,000 residents in a single year.

“Greater Brisbane is made up of only five city councils, all of which were beneficiaries of positive internal migration last year,” he said.

“Once again it seems that affordability was a key driver with the more expensive metropolitan Brisbane attracting the smallest portion of interstate migration while Moreton Bay welcomed the lion’s share.

“In fact, its population of about 440,000 people is expected to grow by a staggering 200,000 in the next 20 years — and its affordability is a big part of the reason why.”

Source: www.smartpropertyinvestment.com.au

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Market Place

Couple turns $145k into $7.5m

Published

on

Couple turns $145k into $7.5m

The massive 1.97Ha site of their family home sits in the middle of Wakerley, about 16km to the east of the Brisbane CBD – a popular area with families that’s been targeted for major subdivision work.

Property records released last week show a $7.5m deal was struck off market in late March, while just two years ago, the site was valued around $1.1m. It’s believed the property was bought for $145,000 in 1987.

Preparation for the development approval began last year, with the couple then selling to a firm that then filed a development application to split the site into 27 housing lots in the first stage and five lots in the second stage.

Couple turns $145k into $7.5m
The new subdivision is expected to connect other streets in the area surrounding it. Picture: CoreLogic

The large “rural” home site was surrounded by residential subdivisions on three sides and fronts Manly Road – one of the main feeder streets to the area. The new plans mean it will join seamless into the other subdivisions in the area.

The company that bought the site received development approval from the Brisbane City Council in May and waived the appeal period.

Couple turns $145k into $7.5m
114 Virginia Ave, Hawthorne, QLD.

The previous highest price fetched in Brisbane’s east was at 114 Virginia Avenue, Hawthorne – an ultra-modern six bedroom, five bathroom, six car space home that sold for $7.48m in six years ago.

Built in 2008, the Viriginia Avenue home has solid concrete walls and floors over all levels, with full walls of glass fronting the river.

114 Virginia Ave, Hawthorne, QLD.

Source: www.sunshinecoastdaily.com.au

Continue Reading

Market Place

Metro Property’s discounts leftover Brisbane apartments

Published

on

Metro Property's discounts leftover Brisbane apartments

Want a bargain? Metro’s Newstead Towers in Brisbane has 20 per cent discounts. Supplied

Real estate agents are offering 20 per cent discounts on apartment sales at four of Brisbane-based developer Metro Property Development’s Brisbane CBD projects as the apartment market continues to face headwinds.

Along with 20 per cent discounts on one and two-bedroom apartments, buyers were being offered a 4.5 per cent rental one-year guarantee at Aqua Newstead, Broadway on Ann, Canterbury Towers, and Newstead Towers. These apply to apartments priced between low $400,000 to nearly $600,000.

The oversupply problem in Brisbane is heating up, with the Queensland Treasury now warning its apartment market could take a turn for the worse, especially if the bigger Sydney and Melbourne markets begin to falter.

But Metro said the discounts applied only to residual stock, not entire projects or launch prices, with residual discounting being part of a business-as-usual stock clearance.

“We are not discounting [the original prices of] apartments in Brisbane, but rather managing an orderly sell down of any remaining stock we have,” Metro marketing and sales general manager Phil Leahy said.

“The heat has certainly come out of the Brisbane market from where it was a couple of years ago, but we see it as just back to normal market conditions with good buying opportunities and plenty of growth potential in the coming years to buyers entering the market now.

“We have already secured buyers for the four buildings and are in the run up to settling the last of these units over the next couple of months.”

He said discounts were sometimes offered by agents on their own accord, hoping developers would accept the lower prices.

“We see this all the time, however I can confirm there is no discounting to our [original] price lists and we have been successful in maintaining pricing levels thanks to the locations, amenity, inclusions and designs offered in the apartment projects we have been selling,” Mr Leahy said.

Discounts aside, a 4.5 per cent rental guarantee was reasonable and agrees with SQM Research’s data which show the latest rental yield for two-bedroom units in Brisbane was close to 5 per cent.

“We are taking an average of 18 days from handover to secure a tenant via our in-house rental team. Given this strong demand, we do offer a one-year rent guarantee to investors,” Mr Leahy added.

“We are having excellent success getting investors from both Melbourne and Sydney to look at Brisbane as a more affordable investment option than the other wo capitals vis-à-vis lower purchase prices with high rental yields.”

Source: www.afr.com

Continue Reading

Market Place

Analysis: Brisbane’s backyards emerge victorious over townhouses but for how long?

Published

on

Analysis: Brisbane’s backyards emerge victorious over townhouses but for how long?

Three years ago, Madonna King wrote that Brisbane was “at risk of becoming downright ugly”.

Continue Reading

Make your Super Work

smsf property investment smsf borrowing

Positive Cashflow

duplex designs, dual occupancy homes

Investment Property Advice

investment property calculator successin property

Trending