THE BEST PICKS FOR BUYERS ARE IN REGIONAL QUEENSLAND
First home buyers looking to enter the property market could find a gem in regional Queensland - particularly in the northern regions, according to realestate.com.au’s Buyers’ Markets1. With interest rates low, there’s no better time to start looking in these areas.
The following 10 Australian suburbs have the most favourable conditions for buyers2:
Charters Towers (QLD)
Agnes Water (QLD)
Macleay Island (QLD)
Over the past year, properties in regional Queensland have had the most favourable conditions for buyers with the top three – Bowen, Charters Towers and Ayr - located in the state’s north. These areas have longer days on market and fewer people looking. Queensland’s northern areas dominate the top ten list with Nanango, Agnes Water and Emerald coming in fifth, sixth and tenth spots. Interestingly, the only other state to feature is Victoria with regional Portland coming in fourth.
Tony Doyle, Principal at LJ Hooker Bowen says regional areas in Queensland are receiving plenty of interest due to its affordability and high amount of stock available.
“There’s definitely interest in these Queensland areas from buyers considering moving here to retire or looking for work. Bowen in particular attracts many people coming to look for work in the Port and mines,” said Mr Doyle.
Mr Doyle adds that a lot of people are relocating from southern areas to Queensland’s north due to the better climate.
“Areas in the north of Queensland have dry tropics and generally beautiful weather compared to our southern counterparts. It’s definitely reflective of the surrounding beautiful beaches,” said Mr Doyle.
Along with its beautiful beaches, Bowen offers a laid back lifestyle which is consistent with many regional areas.
“People are doing their homework and looking at the lifestyle aspects of Bowen. There are no traffic lights in regional areas which is great as you can get to places in no time. In Bowen, there’s also a mix of new and older properties that date back to post-war homes. The history of this town is attracting a lot of interest too,” continued Mr Doyle.
Arthur Charlaftis, REA Group’s General Manager of Sales and Operations says that realestate.com.au’s Buyers’ Markets offers valuable insight and helps make the property decision easier for those looking to buy.
“realestate.com.au’s Buyers’ Markets present more affordable price points and less competition from other buyers, making them attractive for people looking to enter the property market. realestate.com.au has plenty of tools and information to help you decide which suburb suits your lifestyle at a price point you want. Our Suburb Profile page includes imagery and in-depth detail about each Australian suburb while our Sold section provides useful information on the sold price in those suburbs,” said Mr Charlaftis.
Methodology: The data is ranked by the sum of the below variables:
Demand/Supply is calculated as the number of visits to realestate.com.au which included at least one view of a listing in the 'buy' section for a given suburb, divided by the number of properties available in that suburb. Suburbs are limited to those with at least 15 properties per month.
Days on Market (DOM) is calculated as the median length of time between when a property was first listed on realestate.com.au, and when it was sold. Suburbs are limited to those with at least 60 properties sold in the last 12 months.
Price Difference is calculated by taking the median of the difference between the sold and listing prices, divided by the median listing price for each suburb. Suburbs are limited to those with at least 60 properties sold in the last 12 months
About realestate.com.au: realestate.com.au is the leading website in Australia for residential property, attracting an audience of more than 3 million visitors every month. It is owned and operated by ASX listed REA Group Ltd ABN 54 068 349 066. Source: Nielsen Online Ratings, Domestic Audience, November 2014 – January 2015.
1 realestate.com.au internal data May 2014 – April 2015
2 Based on the methodology, realestate.com.au’s Buyers’ Markets show favourable conditions for areas that have properties with a longer day on market, have fewer people looking per listing and have a more affordable price point.