QLD leads nation as expert urges more people to get rich slow
Article by Sophie Foster 13 Feb 2020
A Queensland location has been named the best place in Australia to buy property to get rich slow, a strategy more investors are considering now that money is cheap.
The National Top 10 Best Buys 2020 report named the Sunshine Coast as the best place in the country for capital gains wins for medium to long term investors.
It beat the likes of Badgerys Creek Creek in western Sydney, where the NSW’s capital’s second international airport was planned, and was also ahead of Marion in South Australia, a place which has emerged as Australia’s tech capital.
Brisbane’s Moreton Bay council region also made the top 10 cut, listed in fifth place nationally as one of the best places to buy this year for future capital growth.
Report author Terry Ryder of Hotspotting said the locations were the “top places for good buying in 2020 for future growth, taking a medium (three to five years) to long term view (10 years plus)”.
Mr Ryder said buys like those were good for “sensible investors” who accumulate rather than buy and sell all the time.
“They buy good properties and just hold on to them. That’s the secret to creating wealth. The most successful investors are those who just build their portfolio and keep adding to it, that’s the way to create substantial wealth in property investment.”
Mr Ryder said “if you’re 95 years old perhaps that’s too late”, but those in their 20s would be able to retire at 50 with such a portfolio. It’s never too late. We’re living longer than before.”
National Top 10 Best Buys 2020:
- Sunshine Coast QLD
- Badgerys Creek Precinct NSW
- City of Marion SA
- Bendigo VIC
- Moreton Bay Region QLD
- Darebin LGA VIC
- Gungahlin District ACT
- City of Stirling WA
- City of Port Adelaide Enfield SA
- Orange NSW
(Source: Hotspotting)
“The Sunshine Coast came out on top. Property markets arise out of what’s happening in the local economy. There are extraordinary things happening on the ground,” he said.
Prices ranged from up-market Noosa and Sunshine Beach to cheaper areas like Nambour, which were also on the train line.” Mr
“The other option for younger buyers starting out in their 20-somethings was apartments at Mooloolaba, Maroochydore, and Caloundra. It’s very much gentrified in recent years.”
Mr Ryder said Moreton Bay LGA was a very affordable lifestyle precinct, with a rail link and “good basic infrastructure”.
“The game changer for that is the university campus, the Brisbane campus being in Petrie and it’s pretty much finished stage 1 for the 2020 university year. So when you’ve got a university campus coming into your area, it creates so much demand for rentals from students. It’s that extra element coming in to the market. It’s got what we call good real estate bones.”
He said most people did not shop, work or school in the Queensland capital’s CBD and outliers were increasingly important.
“This is a very good time for people to be getting into the market compared to 12 months ago when things were flat. Twelve months later, we start the year with a whole new ballgame, people are a lot more confident, there’s evidence of markets rising, tax cuts are being put into the system, it’s easier to get loans, the whole atmosphere has changed.”
The report found that over $20 billion in major infrastructure projects and private investment were recently completed, under construction or in the planning pipeline in the Sunshine Coast area, while work on the new 53ha Maroochydore CBD was underway.
It said the Moreton Bay region was one of the highest-growth LGAs in Australia, because of high levels of infrastructure spending and attractive housing affordability.
“This is attracting interstate migrants, first-home buyers and investors to the area, driving strong demand for housing.”
