A Buyers Agent’s Guide to Moreton Bay Regional Council – Will it be the next property investment hotspot?
Where is Moreton Bay Regional Council located? What housing types are predominant?
Moreton Bay Regional Council is located in the northern corridor between Brisbane and the Sunshine Coast. It is the third largest local government area in Queensland and includes a range of urban, bayside, and rural centres.
Located closest to Brisbane, is the ‘Hills district’. Known for its green, undulating landscape, the Hills district includes the suburbs of Everton Hills (11km), Arana Hills (13km), and Ferny Hills (18km). (Distances are from Brisbane GPO). These suburbs were typically developed in the 1970s. The predominate housing type are 2 storey weatherboard homes, typically with garage/storage space underneath.
Extending further north (and typically on flatter ground) are the suburbs of Strathpine (22km), Bray Park (22km), Lawnton (23km) and Petrie (25kms). Homes in these areas are a combination of older weatherboard properties, and newer brick homes built in the 1990s and 2000s.
Moreton Bay City Councial also includes the bayside suburbs on the Redcliffe peninsular (35km). The bayside area includes a mix of luxury waterfront and water view properties; and a mix of older homes and units; with some high-rise unit developments
Adjacent to the Redcliffe peninsular and M1 motorway are the newer housing developments including Northlakes, Rothwell and Griffin. Homes in these areas are typicaly newer brick homes on smaller sized blocks.
Rural areas between Samford (23km) and Caboolture (50km) include a mix of luxury acreage properties (especially in the Samford Valley region); and newer housing estates around Caboulture, Morayfield and Narangbah.
What are the drivers of capital growth? What attracts home buyers & investors to Moreton Bay Regional Council?
Population Growth and Economic outlook
The Moreton Bay Council Area is one of the fastest growing regions in Queensland. The population is predicted to grow by 46% between 2014 and 2036 to reach over 622,000.
The region also has positive economic outook with employment growth predicted to increase by 2.6% per annum over the next 20 years. Much of this growth is in health care and social assistance, education and training, professional, scientific and technical services, retail trade and construction.
The median house price in the Moreton Bay Regional Council is $422,000 (2017) making it considerably more affordable than in Brisbane (median house price of $655,000 in 2017). Families and investors are attracted to the lower entry price leading to good demand for properties in the area.
Good Public transport is highly valued by home buyers and investors and is a major driver for capital growth. The Moreton Bay region has recently opened a new rail link which connects to the existing Caboolture line. Six new rail stations are now operational in Kallangur, Murrumba Downs, Mango Hill, Mango Hill East, Rothwell and Kippa-Ring.
Schools & education
The Moreton Bay area is the home to a number of well regarding public and private schools including St Paul’s school (Bald Hills), and Genesis Christian Collage (Bray Park).
The council has also recently announced plans for a new campus of the University of Sunshine Coast which will be built in the suburb of Petrie. The campus will create thousands of new jobs both during construction and when it is becomes operational. The university will cater for up to 10,000 students over 10 years. More information on this project can be found at: https://www.moretonbay.qld.gov.au/the-mill/
Shops and entertainment
Major shopping centres including Westfield Strathpine, Westfield North Lakes and Peninsula Shopping Fair, as well as bulky goods centres at North Lakes, and Morayfield are examples of amenities in the region. Costco and Ikea have also recently opened stores in the area
Some words of caution…
The saying, ‘All that glitters is not gold’, certainly holds true for property investing.
The Moreton bay region is a large area and is made up of many different property markets. Identifying and researching these markets is essential in any property search. When buying in the Moreton Bay region, purchasers should be especially careful about:
- Areas that are susceptible to flooding
- Low socioeconomic areas and regions of high crime
- The location of social housing
- And the potential risk of oversupply (especially when purchasing in new housing estates in outer suburban areas)
Home buyers and investors should consider working with an experienced buyer’s agents when looking to purchase property in the Moreton Bay Region. Brisbane based buyer’s agent, Matt Reeves, from Your Property Hound has years of experience buying property in the Moreton Bay area and would be happy to assist. Do not hesitate to contact us, or visit our website for more information.