Queensland has emerged as the clear leader in regional property purchases for 2024, with six out of the top 10 hotspots located in the Sunshine State, according to fresh NAB data.
The top 10 regional property hotspots are:
While New South Wales’ Newcastle and Lake Macquarie secured the top spot, Queensland locations, including Ipswich, Logan-Beaudesert, and Townsville, remain highly sought-after, driven by affordability and growth potential.
NAB executive Denton Pugh (pictured above) noted that Queensland’s popularity comes as no surprise, pointing to its attractive combination of lifestyle and affordability.
“It may be the beautiful weather and outdoor lifestyle, but the surprising pockets of affordability and the potential for growth are also very attractive,” Pugh said. “Either way, demand for property in the state is rising and showing no signs of slowing down.”
He added that the pandemic had triggered a shift toward regional living, which continues to shape buyer preferences.
“Over the past few years, Australians’ love for the regions has only grown stronger, as people prioritise space, affordability, and a sense of community,” Pugh said.
NAB data showed that regional property markets are outperforming capital cities, with growth of 5.4% compared to 5.1% in urban areas over the past year.
Fast-growing regional hubs and coastal towns with strong local economies, infrastructure, and job opportunities continue to attract buyers.
However, Pugh warned that the market will face both opportunities and challenges in 2025.
“The market has slowed as we head into the New Year, but potential rate cuts mid-next year could boost demand while bringing owners some relief,” the NAB leader said. “There’s also the risk of further housing shortage pressures.”
Townsville has entered the top 10 hotspots for the first time, reflecting its growing popularity among buyers.
NAB customer Thomas, who recently purchased his first home in Townsville, shared his experience.
“After renting in Townsville for a few years and saving up, I realised it would be better off for me financially to buy,” he said. “Compared to Brisbane, buying in Townsville is much more affordable, and you get more acreage.”
Thomas also noted the area’s competitive market and growth potential.
“While Townsville is convenient for work, I also thought about its increasing potential and opportunities for rental income,” he said. “Like many regional towns, there’s an old-school sense of community. Plus, wherever you buy, you’re usually just 20 minutes away from the action.”
As demand for regional properties remains strong, Queensland is likely to retain its lead into 2025. With affordability, lifestyle appeal, and future rate cuts on the horizon, regional areas continue to present attractive opportunities for buyers seeking a better balance between work and lifestyle.
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