2018 McGrath Report – Thumbs Up for North Lakes

The 2018 McGrath report, released recently has good news for North Lakes. In his annual assessment of the property market, John McGrath reports on property predictions and his top suburb picks.

They selected the five best suburbs for capital growth. They said the following about North Lakes: “Located about 25km north of Brisbane in the Moreton Bay region, North Lakes continues to go from strength to strength with significant residential and commercial development continuing, including the $250 million today.com.au/laguna-north-lakes-development-hailed-as-brisbanes-new-world-class-mixed-use-precinct/”>Laguna mixed-use development. In the decade to 2016, North Lakes-Mango Hill had the largest population increase in QLD according to the Australian Bureau of Statistics (ABS)”.

There have been more reports confirming my prediction of the “spillover effect” causing migration from Melbourne and Sydney to Brisbane. Macquarie Bank recently predicted an $8 billion exodus from Sydney to Brisbane and Southeast QLD housing markets, equivalent to 25% of current turnover.

They said, “The emerging exodus is part of Australia’s latest wave of interstate migration to Queensland, where house prices are half those in Sydney and job creation is on the rise. When similar factors were at play in the mid-1980s and mid-2000s, an average 134,000 people made the trek north over a three-year period. They were mainly from New South Wales, Macquarie said.”

This interstate migration will leave the Australian economy in better shape.

Selling high down south and buying low up north will help curb mortgage-driven debt. This will be a key deterrent for central bank rate hikes and will strengthen the national property market by spreading housing equity around the country.

Other Pluses for North Lakes

RACQ is now in the banking business and has selected Westfield North Lakes for the launch of their first concept store.

As a bank branch, there will be differences. In place of traditional tellers and private rooms, members can enjoy casual seating on a boardwalk surrounded by trees, a breakfast bar, and a courtyard. What a great concept!

Until next week …

Steve Taylor

If you prefer to listen here is my radio interview on Emerald 4HI:

At the helm of Steve Taylor & Partners, Steve has been delivering expert advice and product knowledge to investment clients for over 30 years. We provide individuals, couples and families with the right strategies to create wealth and change their lives with solid bricks and mortar.

DISCLAIMER

Steve Taylor & Partners blog is opinion and not advice. Readers should seek their own professional advice on the above subject. The figures stated in this article were accurate at the time of publication. For up to date figures, please contact our office.

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