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South East Queensland suburbs experience record high growth

Anthony Hancock
Anthony Hancock
13/05/19

Defying the nations property market downturn are eleven suburbs that are experiencing record high price growth.

Of the eleven, five are in South East Queensland; the Sunshine Coast (Noosa & Sunshine Beach), the Gold Coast (Palm Beach) and Brisbane‘s north side suburb, Windsor. And according to CoreLogic, the coast lifestyle areas have been dominating the top 20 most resilient areas.

Despite the weak market, homeowners, particularly in Sydney and Melbourne, had substantial equity that could be unlocked, helping to underpin prices in coastal areas, according to CoreLogic head of research Tim Lawless.

“Baby boomers are retiring, having gone through a number of property cycles and have the equity to fund a lifestyle purchase,” Mr Lawless said. “The money goes further in these markets than in Sydney and Melbourne.”

At the other end of the spectrum, 17 of the 20 biggest price falls for the year were in Sydney’s mid-priced suburbs, with the Epping area seeing prices fall a massive 32.9 per cent.

Source: The Australian, 11 May 2019