Investors focus on rustic suburbs north of Brisbane

News Corp Australia Network

Investor Ron Pratap eyes Griffin, Wednesday, November 29, 2023 – Photo Steve Pohlner

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A modest suburb north of Brisbane is attracting investor attention as new data reveals Queensland's most affordable locations to maximize returns in 2024.

Investor Ron Pratap, who has lived in the area for nine years, said Griffin is a great place to invest because of its amenities and surrounding growing suburbs.

“I have no complaints about the area. It's a nice and safe place to live,” Pratap said.

“It's close to good schools, boat launches, highways to the Sunshine Coast and Gold Coast, and reasonably priced, Pratap said.

“Rental returns here are pretty good and occupancy is close to 100 percent.”

Harcourt Connections estate agent Liam Seet said the market in the Griffin/Muramba Downs area was strong.

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“In the first week of my townhome, I had 32 inspections and 15 offers, which is a good indication of the strength of the market here,” Seto said.

“Especially where Griffin is located and all the facilities that surround it, including the M1 north-south ramp, Westfield North Lakes, brand new sports facilities and Maramba Downs shopping centre. Everything a buyer or investor needs is here. there is.

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“Griffin is located between a growing suburb and will organically move here.

Seto said he was confident in the market's performance despite low patch stocks.

“From a seller and buyer perspective, the market is in great shape. Inventory is running low, so now is the time to sell. Buyers may not have as many options, but we “We can qualify people who are keen to buy,” he said.

“Eager buyers are ready now and will have something lined up.

According to PropTrack, the median home price in Griffin from November 2022 to October 2022 is $690,000.