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Kallangur Set to Boom as a Property Hot Spot
Just as we predicted, the Kallangur property market underwent a massive boom in 2021. Throughout the year we saw the growth in value of both houses and units. It became a true property hotspot.
This was especially true of housing prices which as you see above, surged 18.75% from October 2020 to September of 2021.
So how did we know that Kallangur was set to boom as a property hot spot?
A red hot market
Property prices across Australia’s capital cities are on the rise and increased by 22% last year.
Kallangur has long been an undiscovered gem, with affordable prices, a prime location, and safe streets. While other Moreton Bay area properties have risen into the $900k range for 3 bedroom homes, in Kallangur you can still get these for $670k to $700k.
However, prices won’t stay this good forever, and more people are snatching up Kallangur homes and units every day.
Proximity to new university campus
When we first published our prediction back in 2019, the USC campus was still a year away.
Now the campus is operating and growing. By 2030, it is expected to be the same size as the flagship USC Sunshine Coast campus, with 10,000 enrolled students and 100+ degrees on offer.
There are already plans to expand the campus with new facilities. This new university promises to bring residence and further investment into the Kallangur area.
As investment and population sizes grow, so too does the price of housing in a suburb.
Proximity to services, transport and entertainment
The proximity of Kallangur to other essential services also makes it an attractive prospect for new investors and owner-occupiers.
The presence of so many services makes Kallangur a property hot spot. There will be even more growth and investment in the years to come.
Coronavirus and interstate migration
Coronavirus has also impacted Queensland’s property market. When we told you Kallangur was set to boom, no one could’ve predicted the influence of a global pandemic.
And yet, Kallangur had all the infrastructure to encourage new buyers.
With many states ravaged by COVID-19, Queensland’s strong health response left us in a far stronger position than other states.
This has caused people in southern states, like Victoria and NSW, to purchase interstate in the hopes of moving to Queensland.
Kallangur has seen interest from out-of-state buyers also, and the property market has boomed as a result.