McDowall homeowner Jayne Manssen has just sold her property in the investor hotspot. Picture: Jerad Williams
Five Brisbane suburbs where median prices are under $1m have been named among the hottest for price booms in the coming year.
Finder’s Property Investment Index results come just as a survey found Brisbane residents among the most likely of all capitals to believe prices are set for more rises.
Finder’s Consumer Sentiment Tracker found 26 per cent of Brisbane residents thought price growth would be “significant” over the next year, while only 16 per cent of people thought prices would fall.
Tingalpa scored highly for homes priced under $750,000
Finder’s Property Investment Index Brisbane used criteria including market demand and price growth as well as demographics to measure every suburb by investment potential, with results ranked by price point.
The northern suburb of Fitzgibbon, where the median house price is $572,500, was the highest-ranked entry-level housing market, scoring 89 of a possible 100 points on the index.
Other best picks for houses priced under $750,000 were Yamanto and Tingalpa (86 points each).
Moving to the next price bracket, Lutwyche (94 points) and McDowall (92 points) were topscoring suburbs priced between $750,000 and $1m.
This Lutwyche home is marketed by Belle property group
Marketing agent Claire Johnson, of Ray White Aspley, said Brisbane’s outer northern suburbs presented excellent value for investors, downsizers and first-home buyers.
“These suburban areas are great pockets to be in if you are wanting to raise a family, with amazing school catchments, three hospitals within a 5km radius and a small commute to the CBD,” Ms Johnson said.
She said McDowall in particular offered “more bang for your buck”, with larger block sizes than surrounding areas such as Kedron.
“We are starting to see more stock each month. We had about six per cent more listings last month compared with the one before, but when you are considering insurance premiums and rates going up, you do have to be smarter with your purchases.
“Typically, there is a quick turnover in the townhouse and villa market as people want to downsize, but I’m also seeing a lot of first-home buyers now that we have gotten over that massive fear of missing out and reached the other side of that,” she said.
Investment criteria included market demand and price growth as well as demographics
McDowall homeowner Jayne Manssen just sold her three-bedroom townhouse and said she’d prefer to rent in the same area until she is able to purchase another property rather than move away.
The shift worker bought the property for $368,000 in 2017, and it was snapped up for $560,000 following a four-week marketing campaign with Ms Johnson.
The sale price was the highest achieved for the complex, while the rental appraisal of $590 per week for the property was particularly strong, Ms Johnson said.
Ms Manssen negotiated a long settlement while she continues her search for a smaller home close by.
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She describes McDowall as a “best-kept secret”, providing convenient access to her work at South Brisbane but also surrounded by walking trails and bushland.
“I love living there so I’m looking to reinvest in the area,” Ms Manssen said.
“I have a 90-day settlement, although I have said I will leave earlier if I find something.
“I have also considered renting in the area and taking a step out of the market for six months in the hope that prices will go down,” she said.
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