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As seen in the Source link, written by on 2020-01-10 01:00:00

An artist impression of the new University of the Sunshine Coast Moreton Bay Campus due to open in Petrie in 2020.

The USC Moreton Bay campus due to open in Petrie this year is helping to drive interest in the Pine Rivers real estate market and buyer activity is only going to increase, a local real estate experts has said.

According to data from Core Logic, more than half the suburbs in the Pine River Press catchment have seen median house price growth in 2019 while all but Dakabin have seen an increase in the average house price in the past three years.

The standout performer of 2019 was Dayboro where the median house price was up 16.9 per cent to $591,000.

USC chief operating officer Scott Snyder shows off laboratory space at the Moreton Bay campus in Petrie. Picture: Marcel Baum.

Clear Mountain came in second with an increase of 16.3 per cent to $802,250 while Cashmere was up 5.4 per cent to $769,450.

David Deane Real Estate Strathpine sales director Mark Rumsey said the Pine Rivers property market had been solid in 2019.

“(It) did get affected early in the year with the fallout from the banking royal commission lending crackdown and federal election but has been picking up confidence steadily since,” he said.

“There has been a lot of investor activity due to the university and first home buyers have been solid with interest rates at such record lows.”

Mark Rumsey of David Deane Real Estate. Picture: supplied.

Mr Rumsey said Strathpine, Lawnton, Bray Park and Petrie were the strongest suburbs for sales in 2019, all getting high interest courtesy of the university and subsequent development coming in to support it.

“We are so close to the bay, country regions, the north and south coasts, 25 minutes to the city, and have a median house price of only $425,000 with properties with big blocks and great value for money,” he said.

Mr Rumsey predicted 2020 would be an even better year for real estate in the region.

“The new first homebuyer incentives, possible interest rate drops, Petrie university opening and Brisbane’s second runway will see our area and Brisbane as a whole have a very good year of growth,” he said.

“We are very excited about how our region is developing and some of the exciting new projects coming alive.”

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