Queensland’s property market witnessed a significant transformation in the final quarter of 2024, as three emerging suburbs made their mark by entering the top 10 list for property sales. Proptech firm InfoTrack’s latest Property Market Update for Q4 2024 highlighted these suburbs with the highest property sale volumes during this period.
Houses continued to be the preferred property type for buyers in Queensland, representing nearly 60% of sales in 2024. The report indicated a notable increase in residential unit properties from the beginning to the end of the year, with Pimpama leading the market for houses for the third consecutive quarter.
Lee Bailie, InfoTrack’s head of property Australia, emphasized the crucial role of location in the popularity of suburbs. Pimpama’s proximity to Brisbane CBD and the beach maintained its appeal, while Upper Coomera and Yarrabilba also gained traction in the market.
For residential units, Southport experienced a significant rise to the top spot in Q4, surpassing Surfers Paradise. New entrants Hamilton and Chermside joined the top 10 locations for unit sales, showcasing rapid growth and attracting buyers with lifestyle and transport amenities.
Hamilton, known for luxury homes and waterfront living, and Chermside, a key location with diverse zoning including a major shopping center, offered a mix of residential and commercial opportunities. Brisbane suburbs like South Brisbane, Fortitude Valley, and Hamilton featured prominently in the top 10 for residential unit sales.
Labrador in Gold Coast and Maroochydore in the Sunshine Coast also made it to the top 10 list, reflecting the diverse appeal of Queensland’s property market. The Moreton Bay region, with suburbs like Caboolture and Morayfield, continued to attract buyers, signaling ongoing growth and demand.
Buyers are drawn to suburbs like Hamilton and Chermside due to their convenient locations near city centers and vibrant community hubs. These areas offer a blend of amenities, making them desirable for both lifestyle and investment purposes.
The evolving landscape of Queensland’s property market underscores the dynamic nature of real estate trends and the importance of strategic location choices for buyers and investors. As emerging suburbs shake up the traditional property market, opportunities abound for those seeking to capitalize on growth and potential in the Queensland real estate sector.
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