Property hotspots from central Queensland to northern NSW
HOMEBUYERS from central Queensland down to the mid-north coast of New South Wales might need to move quickly if they are going to take advantage of emerging hotspots on Australia's east coast.
After several years of low turnover in the market, experts are starting to see the first signs of increased activity as investors use tougher times to grow their portfolios.
Real Estate Institute of Queensland Mackay zone chairwoman Sally Richards pointed to infrastructure developments guiding growth, with a Masters and Bunnings development bringing attention to Beaconsfield and Glenella.
Other development plans pointed to Ooralea growth.
Noel livingston, REIQ zone chairman for Rockhampton, said the mini-boom in Gracemere on the back of industrial development had been an attention-grabber, but it was the consistency and stability of the region's market that was underpinning investor interest.
Gladstone region zone chairman Mark Spearing said suburbs close to the CBD were the likely beneficiaries from upcoming infrastructure projects, however the timing of some projects was unclear and might not be locked in until the federal election is out of the way.
Bundaberg zone chairman Michael Dempsey pointed to family friendly areas.
He said a low rental vacancy rate of 0.8% and rental returns of 8% in some cases would continue to draw higher numbers of investors.
The Fraser Coast's Linda Bland said small acreage blocks, up to 5 acres, had drawn a significant rise in demand as buyers look to buy a lifestyle at the bottom of the market, while additional $10,000 first home buyer incentives from the Fraser Coast Regional Council were likely to lead to a spike in demand for newly constructed homes.
Ipswich zone chairman Darren Boettcher said recent subdivisions in Deebing Heights, on the southern side of Ipswich, were an opportunity for buyers to take advantage of previous price declines.
"Securing one of the acreage large lot properties will be a very wise move for the future as the small lot prices will increase and only add tremendous value to the other properties in the area on acreage or large lot living," Mr Boettcher said.
The fast-forming medical precinct in Birtinya, 12 minutes drive south of Mooloolaba, was appealing to property hunters.
"Soon to be built is the public and private hospitals plus an allied health facility," a spokesperson for the Sunshine Coast zone said.
"Its expected to be the largest in the Southern Hemisphere and will provide an expected $3.2b economic impact to the greater Sunshine Coast Region.
"As this region develops, we are seeing the existing suburbs around this precinct come under further demand from buyers looking to purchase for the possibly of future upside."
Real Estate Institute of New South Wales chief executive officer Tim McKibbin said there continued to be opportunities for buyers in northern NSW, but expressed disappointment that the State Budget had not included incentives for first-home buyers to buy established houses.
"I think it is a huge mistake," Mr McKibbin said.
He also criticised the state's planning system, which he described as "just about designed to make you give up".
He said first home buyers were integral to ensuring supply and demand through the entire property market., and that the state government should go more to assist them, including reductions in stamp duty.
Mr McKibbin urged young homebuyers to do what they could to get in to the property market, including buying in cheaper areas or buying units or townhouses if that was what they could afford, as they could reap the benefits later when they were ready to upgrade to a larger, more valuable home.
"To do it people need to get in as early as they can," he said.
"They need to be somewhat realistic about getting in to the market, getting a beachhead in the property market."