April 23, 2017
By News Corp Australia
FIRST homebuyers are looking north of the CBD in search of affordable home sites, says one real estate industry expert.
Daniel Hirst from Colliers International said young buyers were looking to build in areas such as Morayfield and Caboolture.
“Caboolture is offering urban home sites for an average of $364 per square metre, and Morayfield is $390 per square metre, per the 2016 figures we are tracking,” Mr Hirst said.
“This used to be North Lakes back in 2007, when an average lot size was 517sq m and an average price was $195,000 ($369/sq m).
“Fast forward 10 years, now the infrastructure is built up and only limited land remains, North Lakes home sites are averaging 416sq m in size and $724 per square metre.
“Caboolture presents outstanding value and a great opportunity to purchase right now, particularly when you consider how this area will be in hot demand and experience massive growth in years to come.”
Mr Hirst said growth would be driven by the State Government’s Caboolture West Master Plan Area of 3480ha, which would house 68,700 residents and offer 17,000 jobs over its 40-year time frame.
“It is an ideal time for them to get into the market now, and these regional growth centres offer home sites they can afford and are close to established schools, transport and amenity.”