PRDnationwide has revealed its Queensland-based affordable property hotspots for 2011.
According to recent research by the estate agency, Stafford Heights, Lota, Northgate, Virginia and Mount Gravatt East in Brisbane are all expected to thrive in 2011.
Property researcher Josh Brown said the suburbs were all ideally located near amenities and employment.
"Brisbane’s sub $500,000 property market reflects a fantastic opportunity for potential purchasers to exploit their position in the marketplace and invest within this grade of real estate,” Mr Brown said.
“With 2011 likely to become the year of the buyer, investors and home owners should begin to gear up now if they want to capitalise on the attractive economic environment.
“It’s the season to be buying.”
The research shows sales activity of Brisbane property priced under $500,000 has dropped 40 per cent over the first half of 2010.
“The stagnating sales activity in Brisbane’s affordable market, poses an opportunity for investors to capitilise on buyer favourable conditions,” Mr brown said.
“When looking for a property with strong long term gains ensure the property is within close proximity to employment nodes; in an undervalued suburb - determined by price gaps between surrounding suburbs; general affordability; and within close proximity to lifestyle amenity and transport corridors,” he said.
Mr Brown said Stafford Heights was identified due to its affordability and location among key amenity hubs on Brisbane’s north, which will continue to drive growth.
Virginia and Northgate, located 10km to Brisbane’s north, will provide solid long term growth for investors and purchasers, while Lota is set for growth due to its waterfront location within an easy commute of the CBD.