Red-hot Redcliffe property market to benefit from infrastructure spend
Media release - 6th October, 2016
- Massive new infrastructure such as Kippa-Ring Railway Station and USC Moreton Bay campus to drive investor activity
- Hot spot suburbs include Redcliffe, Scarborough, Margate and Kippa-Ring
- The region’s housing market is growing at between 5% and 10% annually
Superbrand Raine & Horne has timed the opening of its new Redcliffe office to perfection, with the launch of a new railway station at Kippa-Ring on 4 October and the development of the University of Sunshine Coast's (USC) Moreton Bay campus set to begin in 2017.
“These infrastructure improvements will have a positive impact on real estate values in the Moreton Bay area, which includes suburbs such as Redcliffe, Scarborough, Margate and Kippa-Ring,” said Angus Raine, Executive Chairman, Raine & Horne.
“Time and again, we see property prices surge when an infrastructure project is announced. And when the project is completed, the true long-term benefits to the economy, community and real estate market will be realised.”
“Since the Kippa-Ring railway station was finally announced a few years ago, markets such as Redcliffe and Kippa-Ring have enjoyed annualised capital growth of between 5% and 10%, and we can expect more of the same now the railway station is open,” says Mr Griffiths. “Kippa-Ring is now a suburb that investors are crawling all over.
“Likewise, the USC Moreton Bay campus, which is being built on the old paper mill site at Petrie, will bring thousands of tertiary age students to the region, and they’ll need to rent a home somewhere.”
Interstate investors are leading the charge into Redcliffe, where the median three bedroom house price is $400,000 and investment yields of 5% gross are the norm, according to Mr Griffiths.
“You can pay a bit more – say, $450,000 – and get a house with a granny flat. These properties are earning between $550 and $600 a week and are proving very popular with investors from Sydney and Melbourne,” he says.
It’s clearly exciting times for the Redcliffe market, and for Mr Griffiths and his team of five sales agents and property managers.
“I’m excited to bring Raine & Horne to the Peninsula,” says Mr Griffiths, who has notched 13 years as a sales agent and business owner holding numerous sales records, including some recent sales at Flinders Parade and Mein Street, Scarborough.
“Raine & Horne is a recognised national Superbrand and it will help me grow my existing business and support the sales consultants and property managers in my team.
“Our clients have been very positive toward the change and know it will be business as usual as we move seamlessly to the Raine & Horne brand, delivering the high level of customer service that we are known for.”
Raine & Horne Redcliffe is located at 34 Baynes Street, Margate, and for all your sales and property management needs in Redcliffe, Margate, Kippa-Ring, Scarborough and surrounding suburbs, contact the office on (07) 3283 4300.
For further media information contact:
Nick Griffiths, Principal, Raine & Horne Redcliffe on 0415 685 544
Andrew Harrington, National Communications Manager, Raine & Horne on 02 9258 5400