Sellers reap benefits from price rises on the coast – realestate.com.au

Travis and Selina Elliott knew Moreton Bay’s coastline was a hidden gem when they moved there a decade ago: years before its value started to rise and catch up with the rest of Brisbane’s rising house prices.

“We lived in the [Redcliffe] Peninsula for a long time,” Mr Elliott said.

“Honestly, I think there’s always been a well-kept secret up there.

“Your only other places that are comparable are Manly and Cleveland, Raby Bay; and they were booming six to 10 years ago.”

“It was kind of inevitable, having such an area surrounded by water, still more or less accessible to the CBD.”

MORE: House prices in Brisbane reached a new peak in October

The RBA’s worst fears are coming true as Aus house prices go ballistic

PropTrack’s latest house price index shows the average house price in Brisbane increased by 11.1 per cent, or $117,400, to $1,126 million over 12 months.

“It’s kind of why we said it was a good time to sell our house,” Mr. Elliott said.

The family bought the house at 24 Fernlea Ave, Scarborough, in 2022 for $1,512,500.

Since then, the family has completely renovated the property and have already found a new home in the same area.

“You always meet new people at the markets and at school,” Mr Elliott said.

The Elliotts with their beautiful view over the water. Photo: Steve Pohlner

---

“We are dealing with a lot of southerners moving up… the people who bought our old house were from Port Macquarie, NSW.”

“They moved here with their older children who were studying Uni. They wanted a change, to try that Queensland lifestyle.”

Place Redcliffe Peninsula agent Adam Clark-Lynch said many of the homes on the peninsula were built with beach accessibility and views in mind, with buyers only beginning to recognize the area’s potential.

“I’ve been selling here for 18 years,” he said, “and people always thought we were separate from Brisbane.

“But people came here for the lifestyle and realized we’re only 40 minutes from the CBD. We’re really like the north coast of Brisbane, Sydney.”

“We still have quite a bit of catching up to do, so I think people are realizing that and buying with confidence. I think we’ll see strong growth in the region over the next five to 10 years.”