The 10 best affordable suburbs in Regional Queensland 2023
Find out which suburbs in Regional Queensland made the top 10 list in Bright Stars: Canstar’s Best Affordable Suburbs Report powered by Hotspotting.
There are plenty of great locations in Regional Queensland where you can buy a home for less than $441,258. This was the cut-off price we used for our ‘Bright Star’ suburbs in the region. (For more on why we chose this see our full report.)
Of course, price isn’t the only consideration when selecting a location to buy property. Lifestyle benefits and prospects for growth should also be on the checklist. In Canstar’s Best Affordable Suburbs Report we used five key metrics – sales volumes, price growth, vacancy rates, infrastructure and proximity to work and amenities – to identify the affordable suburbs that are desirable and likely to grow in value over time. Check out our list below.
The 10 best affordable suburbs in Regional Queensland
- Berserker
- Boyne Island
- Bucasia
- Dalby
- Kin Kora
- Kirwan
- Lowood
- North Toowoomba
- Thabeban
- Wilsonton
Berserker
Demand continues to rise in this very cheap suburb in the growth regional city of Rockhampton. There have been big increases in median prices, both for houses and for units, in the past year. Vacancies are low at 0.7%.and rental yields above 8% are a big lure for investors. The suburb includes major shopping centres, schools and extensive green space. As with any regional centre, check the flood maps.
Boyne Island
This suburb is a snapshot of the regional city in which it sits – Gladstone – major industrial sectors as well as waterside residential areas, with green space buffers. The bad old days of high vacancies and falling values are behind Gladstone, which is now performing as the important regional city and export port that it is. The long-term capital growth rate for Boyne Island has risen to 7.8% per year.
Bucasia
The important regional city of Mackay has a range of suburbs with median house prices in the $400,000s including Bucasia, a northern beach suburb with residential mixed with tourist resorts. Bucasia’s median price has grown by more than 10% in the past year. Rental yields above 6% are supported by a vacancy rate that has hovered between zero and 1% in recent years.
Dalby
The Western Downs region, traditionally based on agriculture and mining, is emerging as a major centre for alternative energy developments. The key town of Dalby is thriving on the back of its growing economy and its affordable real estate. The median house price has jumped 10.4% in the past year but remains below $300,000. Yields are strong, above 6%, supported by a vacancy rate of just 0.2%.
Kin Kora
This suburb is indicative of several Gladstone locations which offer houses in the $300,000s with some lifestyle features. Kin Kora abuts major green spaces including Gladstone Golf Club. Infrastructure includes Stockland Gladstone Shopping Centre, Drakes Sun Valley supermarket, the Windmill Medical Centre and Kin Kora State School. Growth rates are picking up and rental yields are above 6%.
Kirwan
This is the most popular suburb (650 dwelling sales in the past year) in Townsville, which is one of the nation’s strongest regional markets. The strong, diverse local economy has a major infrastructure spend under way, and demand is strong for affordable real estate. Kirwan’s ample amenities include Willows Shopping Centre. Prices rose close to 12% in the past year. Yields above 6% are supported by vacancies under 1%.
Lowood
Affordable lifestyle towns between two of Queensland’s major growth centres, Ipswich and Toowoomba, are becoming increasingly popular. Lowood’s appeal includes local schools, a golf course and proximity to Lake Wivenhoe. Lowood’s long-term capital growth is now approaching 10% per year, after a 28.8% uplift in the past year. The vacancy rate of 0.5% is further testimony to growing demand.
North Toowoomba
Toowoomba is a regional city with a huge future, boosted by new infrastructure and other game-changing projects to emerge in the near future. North Toowoomba is an inner-city suburb close to everything important (schools, shops, parks and a TAFE campus) with a median price in the low $400,000s and a long-term growth rate of around 8% per year. The vacancy rate of 0.7% means rents and yields will continue to rise.
Thabeban
Bundaberg is a key regional city with a big future, which will be boosted by a $1 billion hospital well-advanced in planning and other big investment. It is a fringe suburb that will grow in importance as the hospital evolves. Its median has grown by 13.2% in the past year but remains affordable at $355,000. Yields of around 6% are backed by 0.6% vacancies.
Wilsonton
Toowoomba is struggling to find land to keep up with demand, which means prices in growth suburbs like Wilsonton are rising rapidly and almost 20% in the past year. Rents are strong, with a vacancy rate of 0.6%. Wilsonton is on the western side of the city, heading towards the emerging new transport hub built around the Wellcamp Airport and the Inland Rail Link facility.
The best affordable suburbs in Regional Queensland
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Suburb | Median price | 10% Deposit | |||
---|---|---|---|---|---|
Initial outlay* | Monthly repayment+ | Repayments as a percentage of dual income^ |
|||
With FHB concession | No FHB concession | ||||
Berserker | $265,000 | $30,893 | $33,943 | $1,384 | 12.90% |
Boyne Island | $425,000 | $51,276 | $58,221 | $2,220 | 20.70% |
Bucasia | $430,000 | $51,863 | $58,992 | $2,246 | 20.90% |
Dalby | $295,000 | $34,421 | $37,816 | $1,541 | 14.40% |
Kin Kora | $335,000 | $40,361 | $44,357 | $1,750 | 16.30% |
Kirwan | $380,000 | $45,799 | $51,082 | $1,985 | 18.50% |
Lowood | $380,000 | $45,799 | $51,082 | $1,985 | 18.50% |
North Toowoomba | $420,000 | $50,650 | $57,410 | $2,194 | 20.50% |
Thabeban | $355,000 | $42,786 | $47,146 | $1,854 | 17.30% |
Wilsonton | $415,000 | $50,063 | $56,639 | $2,168 | 20.20% |
Sources: Median price: CoreLogic as at February 2023. Initial outlay and repayment data: canstar.com.au prepared on 26 June 2023. (U) stands for units. *Initial outlay figures include the deposit, stamp duty, mortgage registration and transfer fees; and lenders’ mortgage insurance (LMI) premium. Stamp duty calculated based on an owner occupier purchase of an established dwelling. LMI premium based on Helia LMI Premium Calculator for an owner occupier borrower and a loan term of 30 years. +Monthly repayments calculated based on the average variable interest rates of 5.7% and a loan term of 30 years. Interest rates based on the average owner occupier, principal and interest variable rate for a loan of $500,000 over the past year, rounded to the nearest 0.1%. ^Percentage of income based on the average total income by Greater Capital City Statistical Area (ABS Personal Income, 2019-20), adjusted by the ABS Wage Price Index (Dec-2022) for each state. A dual income assumes two people with the average income. For estimates on initial outlay, monthly repayments and repayments as a percentage of income based on a 20% deposit see full report.
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