Sourced from PRD Nationwide
Regional Queensland comprises all local government areas within the Far North and North Queensland, Central Queensland, North Coast, and South West Coast. Based on median price price growth and transaction level of house and units between 2013 and 2014; it is interesting to see that as an overall transaction numbers for house and units have decreased, while median price remained unchanged. This suggests that the Regional Queensland property market is potentially undersupplied, with room for price growth. Figure 1 illustrates key market indicators for the past 12 months in Regional Queensland.
A top performer in Regional Queensland is Murweh Shire, with a median price growth of 14.3% for transactions between 2013 and 2014. This result is not surprising, as the Murweh Shire council has invested approx. $90.3 Million in project development funding, to improve commercial and infrastructure quality within the region. Banana Shire, Bundaberg , and Douglas Shire all tie for the second spot; with annual growth at 8.9%, 8.0%, and 8.6% respectively. A full list of Regional Queensland 12 months top performers is detailed in Figure 2.
Regional Queensland 12 Months Top Performers
|LGA||Property Types||Median Price 2013||Median Price 2014||Annual Growth||Projects 2013-2015|
|Douglas Shire||Unit||$220,000||$239,000||8.6%||$143 Million|
|Lockyer Valley||House||$290,000||$310,000||6.9%||$92.6 Million|
|Murweh Shire||House||$112,000||$128,000||14.3%||$90.3 Million|
|Banana Shire||House||$280,000||$305,000||8.9%||$728 Million|
Hotspot suburbs for houses and units in Regional Queensland prove to be attractive for investors, with high annual median price growth, and median price that can be considered to be dramatically affordable in comparison to capital city and metro areas such as Brisbane and Gold Coast. Hotspots notes current creature comforts and amenities, as well as future project developments which ensure sustainable price growth. Figure 3 and 4 provide a snapshot of hotspot suburbs in Regional Queensland.
It is clear that Regional Queensland is an untapped market with high demand, sustainable price growth, and strong investment yield. Developments in 2015 will boost economic activity in the region, as well as connectivity to CBD areas. This suggests the creation of local job growth, and with low interest rates points Regional Queensland as a potential investment hotbed.