Emerging suburbs shake up Qld’s property market
Hamilton and Chermside suburbs in North Brisbane and Yarrabilba in Logan’s LGA have entered the top 10 locations for property sales for the first time.
The Queensland property market has been remodelled over the last quarter of 2024, with three new suburbs entering the most desirable location list following increased sales.
Proptech firm InfoTrack has released its new Property Market Update for Q4 2024, which analysed the suburbs with the highest property sale volumes for the last quarter of 2024.
The report showed that houses remained buyers’ preferred property type in the Sunshine State, accounting for nearly 60 per cent of sales in 2024.
Residential unit properties saw a quarter-on-quarter increase in 2024, from 26.4 per cent at the beginning of the year to 28 per cent in the December quarter.
For houses, Pimpama led the market, appearing within the top four suburbs for its third quarter in a row.
InfoTrack’s head of property Australia, Lee Bailie, said location is a key factor in suburbs’ popularity.
“The City of Gold Coast’s Pimpama remains popular, due its proximity to both the Brisbane CBD and the beach,” Bailie said.
Similarly, Upper Coomera remained in the top 10, while its inland cousin Yarrabilba entered the list, scoring the seventh position.
According to Bailie, Queensland‘s Moreton Bay region should attract more buyers, as Calboolture and Morayfield are on the list.
“The Moreton Bay region continued to prove its appeal to house buyers with Caboolture taking out the number one position for house sales,” Bailie said.
For units, Southport saw the biggest changes, rising from the seventh position in Q3 to number one in Q4.
Southport now outperforms Surfers Paradise, which stayed in the top two for the third consecutive quarter.
Hamilton and Chermside were the new suburbs that entered the top 10 locations for residential unit sales, finishing sixth and seventh, respectively.
Bailie said both suburbs recorded some of the fastest growth in the state.
“Buyers are circling these suburbs because they offer an appealing mix of lifestyle and transport options being both close to the city and close to thriving suburban hubs that offer excellent shopping, dining and recreation,” Bailie said.
Hamilton, located 7 kilometres north-east of Brisbane’s CBD, along the river’s northern bank, is popular among buyers and known for its luxury homes, upscale amenities and waterfront living.
Similarly, just 10 kilometres from Brisbane’s CBD, Chermside is a key location, with accessible routes and a mix of residential and commercial zones, including Australia’s second-largest Westfield shopping centre.
The report showed buyers favoured residential units in Brisbane suburbs, with Brisbane City, South Brisbane, Fortitude Valley, Chermside and Hamilton all featuring in the top 10.
Additionally, Labrador in Gold Coast re-entered the top 10 for the first time since mid-2023, while Maroochydore, the Sunshine Coast’s only entrant, rounded up the list.