Kallangur Set to Boom as a Property Hot Spot
Kallangur is just 26km north of the Brisbane CBD and lies at the centre of some of Australia's largest urban infrastructure projects. Property analyst Terry Ryder of Hotspotting has released his latest Price Predictor Index, which tracks rising sales across Australia each quarter and identifies suburbs likely to deliver strong price growth. He’s not surprised to see the Moreton Bay Region perform so strongly.
"(The region offers) a combination of affordability, good infrastructure and proximity to job nodes. This is the power combination for real estate" Terry says. "The Petrie, Lawnton and Kallangur precinct already has plenty to offer, with access to rail, the Bruce Highway and a big retail offering. But the university will be a game changer because it will boost the local economy, create jobs and generate demand for accommodation and housing."
Currently under construction, Petrie University is due for completion in 2020. By 2030 it is expected the campus will cater for 10,000 students. The Mill University precinct will include retail, cafes and professional spaces and is projected to employ more than 2,000 people. With Kallangur having such close proximity to the upcoming University of the Sunshine Coast (Petrie campus), we’re finding many investors are looking to buy here now, whilst it’s still affordable.
The new campus will offer a full range of undergraduate and postgraduate programs, and projected numbers are set to grow to 10,000 students in its first decade. The campus will open for Semester 1, 2020, with almost 50 undergraduate degrees available, including business, education, computer science and mechatronics. All of these students, lecturers, professors and administrative staff will need accommodation close to the university. Given that Kallangur is just 2 mins drive from Petrie with established bike tracks, walkways and rail line, this great area offers excellent opportunities to invest now.
Kallangur is located on the western side of the M1 Bruce Highway. On the eastern side is the Master Planned Community of North Lakes. Home to North Lakes Westfield, IKEA, Costco and many other large retail outlets. Westfield North Lakes is located 25 kilometres north of the Brisbane CBD in one of the region’s fastest growing areas. The centre caters to a trade area population of nearly 408,000 people.
A leading retail destination in the area, Westfield North Lakes is home to many of Australia’s best-known retailers including Myer, Target, Big W, Kmart, Coles, Woolworths, ALDI, Dan Murphy’s, Rebel and IKEA. The centre also boasts an Event Cinemas complex, a fresh food market and a casual al fresco dining precinct.
Westfield has just completed a $220 million upgrade. Other local employment nodes include Morayfield, which is only a short drive to the north. Along Morayfield Road for several kilometres, there are large and small retail and commercial businesses with thousands of employees. The same occurs on the southern side in Strathpine, which is only a 6 minute drive from Kallangur.
One of Brisbane’s biggest employers is Brisbane Airport (BAC). Currently employing 24,000 people, the airport has major expansion programs in place, resulting in employment of over 50,000 people by 2034 – that’s only 15 years away. Given it’s only a 20-minute drive from Kallangur to the airport, this means many employees will be living in this region.
Key Facts About Kallangur
- The size of Kallangur is approximately 11.3 square kilometres.
- It has 73 parks covering nearly 7.7% of total area.
- The population of Kallangur in 2011 was 18,982 people.
- By 2016 the population was 20,409 showing a population growth of 7.5% in the area during that time.
- The predominant age group in Kallangur is 0-9 years.
- Households in Kallangur are primarily couples with children and are likely to be repaying $1400 - $1799 per month on mortgage repayments.
- In general, people in Kallangur work in a trades occupation.
- In 2011, 62.7% of the homes in Kallangur were owner-occupied compared with 58.3% in 2016.
- Currently the median sales price of houses in the area is $396,500.
Kallangur Property Market
With so much happening in the Kallangur region, it sits in the Top 5 Population Growth Hot Spots in Queensland at more than 2% growth per annum. Kallangur’s growth is a reflection of a change in council policy, allowing more townhouses and apartments to be built in the suburb, as well as new infrastructure.
Between 2015 - 2019 Median House Prices grew by 14%, from $345,000 to $396,500. Median House Prices across the broader Moreton Bay Region are currently $465,000, showing that Kallangur prices are 17% cheaper than neighbouring suburbs and there are still many good opportunities to buy properties with significant potential for capital growth. Being an older suburb, many of the blocks in Kallangur are 600m2 +.
Moreton Bay Regional Council has released its Dwelling Projections Forecast for Kallangur, which shows there are 2,390 extra dwellings planned in the next 15 years. This provides great opportunities for investors seeking to subdivide or develop multiple dwelling residential complexes. These extra homes will be needed for additional 7,000 residents in the next 15 years.
The new rail line makes the Brisbane CBD very accessible by 40 minute train journey. Petrie University is just a short 3 minute rail trip from Kallangur. By car, the Brisbane CBD is only a 35-minute drive from Kallangur. Whether you’re travelling south to the city and airport, or north to the beautiful beaches of the Sunshine Coast, buyers can still pick up homes for less than $350,000. Kallangur is just 5 mins drive from Westfield North Lakes, plus you’ll also find IKEA and Costco are all just a stone’s throw away.
Major upgrades to the Highway and local arterial roads allow the suburbs on the western side of the M1 to gain easy access to the North Lakes precinct, as previously there was only one over pass. The M1 has been through many stages of expansions from the airport right through to Caboolture and the highway is much better than in previous years.
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