The price of a typical Queensland home would surge by nearly $700,000 to an eye-watering $1.53m by 2030 if the extraordinary growth of the past five years were to continue.
PropTrack’s forecast, based on trends since the pandemic boom, shows prices in some suburbs on track to double – or even triple – with the steepest jumps tipped for regional and outer-metro areas like Logan, Wide Bay and Central Queensland.
The forecast reveals areas with current medians under $500,000 joining the state’s swelling list of million-dollar markets within five years — while home values at the top end could soar to a staggering $9m.
Statewide, the current typical home price of $838,000 across all houses and units would surge 84 per cent, or $689,572, to $1.53m.
Twelve of Queensland’s cheapest markets were projected to rise to $1m or just under.
In Greater Brisbane, Kooralbyn in the Logan-Beaudesert region was one of the most striking cases. With a current median unit price of just $291,000, values would surge by 225 per cent to $946,000 by 2030.
Eagleby, Woodridge and Beenleigh were among other fringe suburbs on track for the million-dollar threshold, driven by rapid gentrification and infrastructure upgrades across Brisbane’s south.
In the prestige bracket, 14 suburbs were forecast to hit $4m or more, with Surfers Paradise leading the charge at $9m – a gain of 126 per cent on today’s median of $4m.
Other projected high flyers were Mermaid Beach ($6.46m), New Farm ($5.26m), and Minyama ($4.72m).
PropTrack senior economist Angus Moore said growth would continue across the nation’s property markets, albeit not at the bullish pace recorded post-Covid.
“Given how challenging housing affordability is at the moment — last year was, on our measures, the worst in at least three decades — that’s obviously favouring more affordable areas,” Mr Moore said.
He said demand had shifted toward cheaper capital cities and outer-suburban pockets.
“Queensland’s been one of the big beneficiaries over the past five years. It’s seen a lot of interstate migration, particularly from New South Wales and Victoria… and that’s driven incredible growth, especially in regional Queensland.”
Originally published by Viva Hyde on RealEstate.com.au. View article online HERE.