The affordable QLD suburbs tipped to boom in 2022
They are some of Queensland’s most affordable suburbs, but a combination of factors could see these locations boom in 2022.
The Well Home Loans Green Shoots Report has identified 20 Queensland metropolitan and regional suburbs where stock levels and days on market have tanked, and asking prices have increased over the past three months.
And they range from a suburb where units have a median price of just $279,000 to a beach suburb in Brisbane’s north where house values have climbed to $712,000.
Well Home Loans CEO Scott Spencer said the report, which used data from Suburbtrends, had identified a diverse range of markets, most of which were “reasonably affordable”.
“The top 20 list includes four in Brisbane and 16 in the rest of the state,” he said.
“Of the 20 locations, 18 are house markets and two are unit markets,” he said.
“The report doesn’t actively search for affordable locations, but, in a nice coincidence, most of the suburbs on this list would be accessible to the average family, with asking prices ranging from $285,000 to under $850,000.”
The top 20 suburbs chosen showed the “clearest signs that strong price growth is just around the corner”, according to the report.
Mr Spencer said the leading indicators for growth were inventory levels and days on market, which he said showed the balance, or rather imbalance, between supply and demand.
“When those two indicators are falling, it means buying conditions are becoming harder, which suggests prices are likely to rise in the months and even years ahead,” he said.
Coming it at number one was Deebing Heights, a semirural suburb in the Ipswich region.
There, the median house price is just $419,000, according to the report.
However, the REA Market Trends report for October puts the median house price in the suburb at $441,000 off the back of 118 sales over 12 months.
House values is Deebing Heights, which is also home to the odd million dollar-plus acreage property, have risen 1.4 per cent over that same period, according to REA.
There are also a number of new residential developments being constructed.
“Of all the Queensland property markets, the Deebing Heights house market is showing the clearest signs that strong price growth is just around the corner,” the report said.
“The sharp fall in inventory levels (by 72.3%) and days on market (by 15.0%) over the past three months are key leading indicators.”
Many of the suburbs identified as the ones to watch in 2022 are suburbs with new residential developments going up, or significant rejuvenation underway.
The top five includes Springfield (2), Jimboomba (3), Bahrs Scrub (4) and Sunnybank (5), with prices across those suburbs ranging from $448,170 (Jimboomba) to $773,000 (Sunnybank).
Kearneys Springs (10) in Toowoomba and Boyne Island (17) in Gladstone also came in the top 20.
For units, Kallangur in Brisbane (7) was showing the clearest signs for “green shoots”, according to the reports, with stock levels falling and asking prices rising.
“The Well Home Loans Green Shoots Report is one piece of the puzzle, but it’s not the entire puzzle,” Mr Spencer said.
“Do your research and seek professional advice.”
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TOP 20 LIST
Rank / Suburb / Postcode / Type / Price
1 Deebing Heights 4306 House $419,000
2 Springfield 4300 House $530,000
3 Jimboomba 4280 House $448,170
4 Bahrs Scrub 4207 House $457,633
5 Sunnybank 4109 House $773,000
6 Pittsworth 4356 House $315,000
7 Kallangur 4503 Unit $290,000
8 Collingwood Park 4301 House $406,649
9 Pimpama 4209 House $510,000
10 Kearneys Spring 4350 Unit $279,000
11 Fernvale 4306 House $398,052
12 Holmview 4207 House $435,500
13 Caboolture South 4510 House $403,889
14 Newport 4020 House $712,000
15 Redbank Plains 4301 House $371,000
16 Coochiemudlo Island 4184 House $388,800
17 Boyne Island 4680 House $370,000
18 Brassall 4305 House $381,200
19 Maudsland 4210 House $649,000
20 Caboolture 4510 House $428,000