Moreton Bay hotspot for families

Above: An aerial view of Stockland's Kinma Valley in Morayfield

New research shows the Moreton Bay region has emerged as Queensland’s growth hotspot for families.

The PropTrack Stockland Regional Snapshot report reveals home prices in the region are rising faster than Greater Brisbane.

Median house prices in Moreton Bay North almost doubed in the last five years, up 95 per cent to $825,000 – eight per cent more than Brisbane over the same period.

Units have followed a similar trajectory and rental markets have also strengthened with house rents climbing 64 per cent in five years and unit rents up 59 per cent.

This rapid growth has been fuelled by more than 56,000 new residents moving to the region in the past decade – most are families looking larger, four-bedroom homes.

“In the region, more than 70 per cent of households are families, with houses representing 80 per cent of new development listings on realestate.com.au,” REA Group Senior Economist Anne Flaherty said.

“Pair that with 51 per cent of inquiries for new developments focused on four-bedroom homes and 90 per cent for homes with three or more bedrooms – it’s clear family demand is shaping the market.”

Over the year to June 2024, Moreton Bay North’s population grew by more than 8100 people, with house prices rising 8 per cent and units 13 per cent.

That has continued a decade-long trend of outperforming Greater Brisbane, where Moreton Bay rose 126 per cent compared with Brisbane’s 115 per cent.

“Moreton Bay is among the fastest growing regions in Queensland,” REA’s Anne Flaherty said.

“Despite strong growth, the region still offers relative affordability compared to Brisbane, where the median house price has now eclipsed $1 million.

“South-East Queensland is set to benefit from the Brisbane 2032 Olympics which will see significant improvements to infrastructure and connectivity throughout the region.”

Stockland Project Director Rob Winters said: “The growth we’re seeing in Moreton Bay is being driven by families who want more space and greater affordability in a well-connected community.

“Our communities like Stockland Kinma Valley in Morayfield will provide around 2500 new homes with a 3000 square metre neighbourhood hub and a 31-hectare central park, and Rivermont in Waraba will deliver just over 2000 homes.”