Low interest rates and extra government stimulus has caused sales volumes in some suburbs to surge by more than 140 per cent, a new report from PRDnationwide has found.
According to the report, 10 suburbs across Brisbane have recorded unprecedented sales volume growth since the introduction of the government’s FHOG boost.
Leichhardt experienced the highest growth in the volume of sales, achieving 141 per cent growth.
Heritage Park experienced a 116 per cent jump in sales, while Springfield Lakes recorded a 110 per cent jump in sales.
The other seven suburbs included Riverhills, Brows Plains, Rothwell, Hillcrest, Victoria Point, Boondall and Murarrie.
“Out of the top ten suburbs experiencing the greatest growth sales transactions, three are located in Logan,” PRDnationwide research analyst Josh Brown said.
“These suburbs are all located in adjacent suburbs to each other and can be easily accessed via the Mount Lindesay Highway.
“They are all heavily dominated by low density residential housing and have an abundance of parks in their locality.”
According to Mr Brown, all of the top ten suburbs are readily affordable to both investors and first home buyers.
“Five out of the top ten suburbs have a median house price less than $400,000 and the remaining five register within the $400,000 to $450,000 price bracket.
“With affordable housing becoming a scarce commodity in the inner city, it can be seen that the pursuit of viable housing options will drive growth in these outer regions.”
The suburbs which experienced the greatest level of sales in Brisbane were also recorded.
“The ten most active suburbs accounted for 11.6 per cent of all sales that occurred in Brisbane,” said Mr Brown.
“Forest Lake accounts for 1.8 per cent of Brisbane's transactions on its own and was the top individual performer with 338 transactions.”