Rental values swell in Brisbane's bayside
Suburbs bordering on Brisbane's Moreton Bay are riding a wave of growth, according to data from a national real estate agency.
Raine&Horne figures show the Wynnum and Manly markets have seen values jump by eight per cent over the last six months, with rentals performing strongly.
Margaret Vote, principal of Raine&Horne Wynnum/Manly, said the market is still being overlooked by investors despite these positive indicators.
“We're not seeing the same rush for property in Wynnum and Manly as is the case with some suburbs closer to the Brisbane CBD, although our market is moving well and we have plenty of buyers and a significant variety of real estate to sell,” she said.
In her view, owner occupiers make up a majority of buyers in the region.
Her office has seen buyer enquiries increase by 10 per cent over the last six months.
Cleveland is also seeing activity surge, particularly in the upper end of the market, according to Val Elworthy from Raine&Horne Cleveland.
“The market for homes priced between $600,000 and $750,000 is buoyant, while the market above $1 million, which has struggled over the past few years, is also starting to move,” she said.
Ms Elworthy believes a shortage of properties, as well as a larger base of buyers with finance approval, are pushing values in that sector.
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