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Games a decade away, but Gabba cashing in as best for investment

Business

The home of the 2032 Olympics, Woolloongabba, has been named as Australia’s top suburb for real estate investment, beating Burleigh Heads and some far more glamorous Gold Coast suburbs.

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A report from BoQ subsidiary ME Bank has found the top 20 suburbs in Australia for investment, a list that is dominated by Sydney but topped by Queensland.

The key factors were how new transport infrastructure would re-shape the investment landscape across the range of suburbs; average rental yields; recent population growth; median house prices, and average rental prices together with lifestyle appeal measurables such as the availability of coffee shops and cafes.

Mermaid Beach came in at 17th, Miami 18th and Fairfield at 20th.

ME’s consulting demographer Chris McNeill, from Ethos Urban, said a common theme that stood out was the huge impact that new transport infrastructure was having on creating investment opportunities in a suburb.

“Add to this the exciting atmosphere in Logan Road, its rapid population growth and steady house price growth, it really does offer a unique opportunity for those looking to invest in the residential property market,” said McNeill.

ME general manager John Powell said the list would provide quality information to help investors narrow their property search and find the ideal investment.

“In addition to the coveted title of ‘Australia’s best place to invest’, Queensland is home to a quarter of the suburbs in the top 20,’’ Powell said.. 

“Queensland’s investment in both Woolloongabba and the Gold Coast has been key,” McNeill said. 

“The new Cross City Rail and the Burleigh Heads Light Rail will turbocharge value along the picturesque coast line of the Gold Coast, adding to its already valuable apartment living and growing retail focus, creating greater connectivity to both the Coolangatta (including Airport) and Surfers Paradise for the three Gold Coast suburbs of Burleigh Heads, Mermaid Beach and Miami.”

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