A resurgence of inner city living, and investment is underway, with the latest property report showing four inner Brisbane suburbs were among the 10 most popular locations for residential unit sales last quarter.
InfoTrack’s Property Market Update Q2 2023 shows West End, Brisbane City, South Brisbane, and Fortitude Valley recorded some of the highest numbers of residential unit sales of any Queensland suburb between 1 April and 30 June.
InfoTrack’s Head of Property Australia, Lee Bailie, said none of those suburbs were listed in the top 10 last quarter. “All of the top suburbs for unit sales for the first part of the year were located on the Gold Coast, Sunshine Coast, or Moreton Bay, but over the past three months, we’ve seen the rise in popularity of Brisbane’s apartments,” Mr Bailie said. “This quarter, West End came in at number two for the greatest number of unit sales, Brisbane City number three, South Brisbane at number seven, and Fortitude Valley at number eight. The southside suburb of Coorparoo also made it into the top 10, meaning half the list now hailed from Brisbane.”
The growth in popularity of Brisbane’s residential units has meant the Sunshine Coast no longer features in the top 10, but Mr Bailie said the Gold Coast remained attractive to buyers.
“Surfers Paradise retained its number one spot from last quarter and remains a long way ahead, with double the number of sales compared to its second-place rival, West End. Its popularity is also growing, with the total number of sales at Surfers increasing seven per cent over the last quarter,” Mr Bailie said. “The remaining suburbs in the top 10 were also all located on the Gold Coast, and included Broadbeach, Southport, Varsity Lakes, and Palm Beach.”
InfoTrack’s data also showed regional locations were gaining popularity among Queenslanders looking to purchase houses.
“The Central Highlands town of Emerald came in at third place for the highest number of house sales last quarter, the Central Queensland suburb of Gracemere in sixth, and the North Queensland suburb of Kirwan in tenth position,” Mr Bailie said. “Our data shows the Moreton Bay suburb of Caboolture has returned to the number one spot for the most popular suburb for house transactions, after losing its crown for the past six months to Buderim, which fell to fifth place.”
In June, InfoTrack also saw some of the busiest search activity of the year on its InfoTrackGO site, where prospective buyers can order Title Searches and do their own research into a property or suburb they’re interested in purchasing.
The full report can be viewed here.
