North Lakes Property Market Hits Half-Million Dollar Median

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. 

Photo Credit: Property Market Updates

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. 

Photo Credit: Property Market Updates

About North Lakes

Photo Credit: Google Maps

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

North Lakes Continues to Bloom

Since becoming a suburb in 2006, North Lakes has continued to experience a flourishing commercial development and continued increase in population. The community has now become more diverse in culture and language. Both big and small businesses are being developed in the neighbourhood. It has also become an emerging lifestyle destination with different weekly events to enjoy.

North Lakes
Credit: Stockland Residential Communities/YouTube

Big commercial developments are attracted to the region. The number of supermarket and grocery stores have reached 271. There are also 256 cafes and restaurants at present. The Westfield Shopping complex, which opened in 2003, has more than 4,900 car parks and 80 specialty shops. It is also the location of both the only Costco and the second IKEA flagship store in Queensland.

Credit: Westfield AU/YouTube

The firms behind Fortitude Valley’s James Street and Southport’s Brickwork developments are also working on the Laguna North Lakes just opposite the Westfield. It is slated to become the retail and entertainment destination in the suburb. It is designed with an outdoor shopping precinct, alfresco restaurants, office spaces that are for lease, a lagoon style pool, aquatic facilities, and a hotel with 140 rooms.

Laguna North Lakes
Credit: Laguna North Lakes Facebook

Lifestyle destinations are booming in the suburb as well. The Fruit and Deli Co. will celebrate its second year at North Lakes Westfield in November.

The Fruit and Deli Co
Credit: The Fruit and Deli Co Facebook

The SkinKandy, a safe piercing shop for the whole family, has just opened this week at Westfield.

Credit: SkinKandy North Lakes Facebook

The Hairhouse Warehouse, run by professionals in cutting, styling and caring for all types of hair, opens on 28 October.

Hairhouse Warehouse
Credit: Hairhouse Warehouse Facebook Page

There are currently 5,914 families in North Lakes, more than half of them with children. Family-friendly events are held regularly and enjoy a healthy attendance among the community.

  • Every first Thursday of the month, for instance, North Lakes Library welcomes kids, ages 9-12, to share and discuss books among themselves.
  • Families are welcome to attend a free CPR class every last Monday of every month.
  • Every Saturday in Caboolture Regional Art Gallery, children can learn traditional Chinese culture through workshops on lantern making, paper cutting, and Metaphysica collages.
  • Adult members of the families are treated to live music performances every Sunday afternoons at the North Lakes Resort and Golf Club.
  • On Monday and Friday mornings, with the exemption of public holidays, free specialist advice is given at Embrace Life’s Child Health Clinic.

Credit: CCO Public Domain / TheVirtualDenise/ Pixabay

All these are not surprising given the continued boom in the suburb. According to the recently released ABS Census, there are already 21,000 people in North Lakes at present. This is a 40 percent jump from the statistics back in 2011. The data also reflects a diverse background among North Lakes residents. The demographics indicate settlers from New Zealand, England, South Africa, India, and the Philippines. The most spoken language, aside from English, is Afrikaans, followed by Mandarin, Hindi, Spanish, and Tagalog.

North Lakes
Credit: Facebook

Among the northern suburbs of Brisbane, North Lakes seems truly one of the places to be.