Affordability the key

PROPERTY Residential

Contemporary affordably-priced properties close to all the mod cons were the most popular with southeast homebuyers last year, the Real Estate Institute of Queensland's (REIQ) most popular suburbs report has found.

And across the State, it was the variety of homes - from contemporary to those ripe for renovation - on offer, and the availability of stock, that most appealed to buyers. "Across the state, the most popular suburbs tend to offer a variety of affordable or mid-range properties and are also located close to amenities and infrastructure.
These attributes have long attracted buyers and will continue to do so," REIQ managing director Dan Molloy said. Brisbane's Forest Lake was again the most popular suburb in Queensland with preliminary sales of 412 over the 2010 year - a result testament to the diversity, and amount, of stock available. Its median house price for year ending December 2010 was $400,000.
"Forest Lake is continuing it popularity as it offers affordably-priced contemporary homes that often have all the mod cons. It is also located amongst a wide variety of infrastructure from shopping centres and retail outlets to educational precincts," Mr Molloy said.
A master-planned community 22km southwest of Brisbane, Forest Lake is also particularly popular with first home buyers and young families given this extensive range of learning facilities on offer.
The second most popular suburb in Queensland for 2010 was North Lakes which recorded 389 preliminary house sales over the year. Its median house price was $452,500. A master-planned community about 28km north of Brisbane, North Lakes was first developed in the early 2000s. Formerly a pine plantation, the estate development spans some 1,000 hectares and is expected to be home to about 20,000 people on its completion.
It was officially made a suburb in 2006. Given its youth, the majority of homes in North Lakes are single-set brick-and-tile houses, while the suburb also has a smattering of Queenslanders., Surrounded by the suburbs of Mango Hill and Deception Bay, North Lakes is also very popular with families and couples.
The third more popular suburb for houses across the State was Buderim with 383 sales. Its median house price for the year was $530,000. Buderim - located atop Buderim Mountain southwest of Maroochydore - has evolved from a holiday destination to a bone fide desirable residential area over the past 10 years. It offers a range of property including acreage living, new residential developments, and prestige property boasting uninterrupted views of the coast line.
The fourth most popular suburb was Kirwan in Townsville which recorded 307 preliminary house sales and a median of $375,000 over the year.
The fifth most popular suburb was Upper Coomera on the Gold Coast which has a median of $420,250 and recorded 290 preliminary house sales.