Moreton Bay house prices are rising faster than Greater Brisbane, as family buyers drive demand.
New research from PropTrack Stockland Regional Snapshot shows the median house prices in Moreton Bay North have almost doubled in the past five years, up 95 percent to $825,000 – eight percent more than Brisbane’s growth in the same period. The rental market has followed a similar trajectory, with house rents climbing 64 percent and units up 59 percent.
The area has also emerged as one of Queensland’s growth hotspots for families, with more than 56,000 new residents (mostly families) moving to the region in the past decade in search of larger, four-bedroom homes that are more affordable than Brisbane.
REA Group Senior Economist Anne Flaherty, quoted in a Stockland media release, said family buyers were the driving force behind the growth.
“In the region, more than 70 per cent of households are families, with houses representing 80 per cent of new development listings on realestate.com.au,” Ms Flaherty said.
“Pair that with 51 per cent of enquiries for new developments focused on four-bedroom homes, and 90 per cent for homes with three or more bedrooms – it’s clear that family demand is shaping the market.”
Moreton Bay has seen median house and unit prices increase 126 percent in 10 years, compared to Brisbane’s 115 percent for houses, and 91 percent for units.
Stockland Project Director Rob Winters said the growth in Moreton Bay was being driven by families who want more space and greater affordability in a well-connected community.
“Our communities like Stockland Kinma Valley in Morayfield will provide around 2,500 new homes, and Rivermont in Waraba will deliver just over 2,000 homes.
“We’re also delivering Halcyon over-50s communities like Serrata and Promenade, which cater to the growing number of downsizers choosing to stay in the region.”
