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New sales analysis shows the number of growth markets in the Greater Brisbane area has quadrupled since the middle of last year, with 124 suburbs experiencing “rising sales activity” — a precursor to further price growth.
The biggest concentration of rising suburbs are in Brisbane’s north and Moreton Bay region, where home prices are forecast to balloon even further, according to the data from Hotspotting.com.
But the growth momentum is occurring right throughout the Brisbane metropolitan area, from Acacia Ridge to Beachmere, Mount Cotton to Spring Hill. Hotspotting.com director Terry Ryder said the uplift in sales activity in the past six months “has been extraordinary” and the expected subsequent price growth was “long overdue”. “Brisbane hasn’t really had a property boom for 10 years or so,” Mr Ryder said. “Now, it’s got the catalyst it needs and it’s undoubtedly... in the midst of a boom that’s probably going to have some longevity in it.”
Mr Ryder said Brisbane’s inner suburbs were tipped to be even more in demand as new major transport projects started to take shape. “A key reason why Brisbane has not boomed in recent years is the absence of major infrastructure projects,” he said. “And it’s not a coincidence that its market is now rising strongly, as major projects proliferate. “Those rising markets will continue because of the prospect of Brisbane hosting the 2032 Olympics. “The impact will be felt in the leadup, rather than after (the Games).”
CoreLogic research director Tim Lawless said the inner Brisbane suburbs of Albion, Woolloongabba, Yeronga, Nundah and Clayfield were well placed to experience property price growth driven by the construction of the Cross River Rail and Brisbane Metro. Agents are already reporting increased prices and...