SE Qld Challenges Melbourne as Leader

Posted on 16/03/2016  
SE Qld Challenges Melbourne as Leader

Melbourne is the No.1 capital city, still buoyant in contrast to Sydney’s steady decline. But South-East Queensland now has more growth suburbs (109) than the Melbourne metropolitan area (105).

These are among the major findings in the new Autumn edition of The Price Predictor Index, the report that predicts price movements by charting sales activity in markets across Australia.

In simple terms, Melbourne has been strong for at least two years while many markets in South-East Queensland – the vast urban area including the Gold Coast, Brisbane and the Sunshine Coast – are still quite early in their cycle.

There are strong growth precincts right throughout this region, headed by Gold Coast City, but with Logan City, Moreton Bay Region and the Sunshine Coast all providing lots of rising markets.

Even though Gold Coast City remains the No.1 location in the nation for the number of growth suburbs, The Price Predictor Index nominates the Moreton Bay Region in Brisbane’s north as the National Growth Star.

This market has come from a long way back in the field to challenge Logan City as the No.1 market in Brisbane. If the pattern continues, Moreton Bay Region will be Brisbane’s market leader in the next quarterly survey.

There are growing signs that Melbourne’s up-cycle is close to its peak. As in many growth markets, Melbourne’s cycle started in the near-CBD areas and over a couple of years has gradually rippled further out.

During 2015 the leading precincts were mostly middle-market areas like the outstanding Whitehorse LGA (where some suburbs recorded 20%-plus growth in their median prices).

Now the outer-ring areas are rising to prominence, always a sign that the cycle has almost run its course. Among the Melbourne market leaders are the Casey LGA in the far south-east, the Brimbank LGA in the west and the Whittlesea LGA in the far north.

To learn more about the markets that are rising, stagnating or falling around Australia, follow this link to The Price Predictor Index.

 

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