Ten coastal suburbs in Queensland could provide a long-term opportunity for property investors looking to break into the apartment market.   

BuyerBuyers co-founder Pete Wargent said these coastal suburbs are ideal for investors seeking long-term capital growth and rental returns.  

“In the unit market, there are solid opportunities in many of the coastal markets of Queensland, both on the Sunshine Coast and at the Gold Coast, and further north for those with a different budget level,” he said.  

The list covers suburbs with median apartment price ranging from $260,000 to $761,000 and double-digit annual gains of at least 10%.   

Suburb  

SA4 Region  

Median unit price ($)  

12-month price growth (%)  

Mooloolaba  

Sunshine Coast  

702,963  

35  

Coolum Beach  

Sunshine Coast  

738,762  

35  

Port Douglas  

Cairns  

282,262  

10  

Trinity Beach  

Cairns  

304,317  

20  

Palm Cove  

Cairns  

356,426  

19  

Palm Beach  

Gold Coast  

736,253  

35  

Miami  

Gold Coast  

718,095  

35  

Tugun  

Gold Coast  

761,476  

35  

Airlie Beach  

Whitsundays  

366,430  

21  

Bowen  

Whitsundays  

269,584  

13  

Mr Wargent said a general advice for investors in Queensland is to look for boutique unit developments with reasonable strata levies.  

“If the budget permits, look for family-friendly units with owner-occupier appeal, in those popular suburbs where the supply is somewhat capped,” he said.   

Queensland’s property market tailwinds  

A recent report from Colliers identified five factors that could provide Queensland a boost over the next few years. These include:  

  • Queensland’s stronger economic performance relative to other states  
  • Population growth and interstate migration  
  • Labour market’s recovery  
  • Major infrastructure and investment  
  • Hosting of the 2032 Brisbane Olympics  

Colliers state chief executive for Queensland Simon Beirne said Queensland has already entered an era of growth, with several economic and demographic trends reflecting the state’s long-term potential as a place for investment and development.   

“The Queensland economy has evolved significantly over the past decade, and the rate of change is expected to accelerate due to the substantial capital investment that is underway or planned across the state,” he said.   

Mr Beirne said Queensland has become the preferred destination for internal migration, given the relatively affordable housing opportunities compared to the bigger states of New South Wales and Victoria.   

“Lifestyle, quality of life and the cost of living have all become heightened factors in people’s decisions of where to live and work over the past two years. However, this is not a new phenomenon with Brisbane consistently included as a top ten performer in Global Liveability rankings,” he said.  

This was apparent during the pandemic, with the state welcoming many households from Sydney and Melbourne.   

Around 31,000 migrated into Queensland from other states over the year to June 2021, which included 83% of those who left Victoria, New South Wales, and the Northern Territory.   

This has resulted in the strongest year-on-year growth in internal migration for Queensland since 2005.   

“The strong positive interstate migration that has occurred has meant that the estimated population growth year-to-date to June 2021 for Queensland was 0.9%, the strongest growth rate across the states and well above the national result of 0.2%,” Mr Beirne said.   

According to forecasts, the Queensland population is set surpass 6.2 million in 2031, which could potentially require 385,000 new dwellings over the next 10 years.  

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Photo by @cityofgoldcoast on Unsplash