Property prices may be soaring in a lot of areas but in some Brisbane and Moreton Bay suburbs like North Lakes, home buyers and investors can have the best of both worlds — a house in a family-friendly, upwardly mobile community located in a growth market, for a budget of a little above $500,000.
Since the establishment of North Lakes in 2006, home values have risen at a stable pace as new developments and construction meet the demands of an upwardly mobile community. From July 2020 to June 2021, the property market for houses grew by a modest but stable 1.52% despite lockdown challenges, per data from Property Market Updates.
Whilst the increase is quite modest compared to the performance of other suburbs in this region, North Lakes’ sales volume reached 558 properties within an average market 35 days on market.
A median house price of half a million dollars is still within reach for families or single-income first-home buyers. For this amount, buyers can have a house with spacious rooms in a pleasant community for a growing family or for retirement. Most homes in North Lakes are new designs, typical of many housing developments in Moreton Bay.
Unit Price Growth
North Lakes’ apartment market did better than the housing market for the period ending June 2021 with a growth of 6.41 percent. Though typically attractive to downsizers and retirees, the unit market has also lured professionals who are either owner-occupiers or renting out their properties to cash in on currently brisk demand. The current unit median price sits at $377,750, with 86 properties sold within an average of 60 days.
About North Lakes
A dynamic suburb like North Lakes has plenty of things going on, with cycle and walking tracks as well as parks for the children. It is a short drive to the local shops and a 13-km drive to Redcliffe for a weekend at the beach. This suburb has a countryside vibe but it’s close to essential facilities.
“I have lived in North Lakes for about 6 years and it has developed a lot in that time. Everything is here. Big Westfield and lots and lots of shops, swimming schools and pools, library, good schools and daycares and there are nice walking tracks. It’s very suburban.”shhhm, Homely
“I have been here for 15 months and now building a home on the golf course. It is a great family area that has a diverse range of ‘localities’ although all sit under the North Lakes suburb. Yes, there are high-density pockets and units however these are just part of a well-planned diverse community.”markm48, Homely
“I just moved to Sunjoy Pl North Lakes from Kootangal Cr Ferny Hills after 10 years and I cannot stress enough how sooner I wish I had moved here. There are parks and greenery everywhere and it’s all maintained daily. It has everything I could ever possibly need with the Westfield just in town and plethora of other big names.”Caseytain, Homely