Property values continue to rise in Caboolture, a thriving urban suburb in the Moreton Bay Region approximately 50 kilometres north of Brisbane City. With a number of developments going on, including new, fairly affordable housing options, industry insiders look upon Caboolture as an emerging hotspot, a great option for first-home buyers.
Highlights
- The Caboolture property market accelerated with a 23.55 per cent growth for the period between October 2020 to September 2021.
- Despite the increase, affordability remains a big attraction for buyers in Caboolture where the median house price is $435,000.
- The median unit house price, on the other hand, is at $227,000 after a 21.39 per cent growth from last year.
Caboolture House Price Growth
Data from Property Market Updates showed that Caboolture exhibited a 23.55 per cent median house price growth for the period covering October 2020 to September 2021. The median house price now sits at $435,500, up from $352,5000 in the previous year.
Despite the increase, the value is still below the general median house price for the rest of the capital at $757,000, according to Core Logic. There were 704 houses sold during this period with a fast turnover of 36 days on market. Three and four-bedroom homes were most popular with buyers.
Once a quiet town for retirees and farmers, Caboolture is slowly attracting established couples with children. The suburb’s population has doubled in the last 10 years, with village centres now turning into major shopping hubs with new businesses that provide the residents with all the conveniences they need.
The current market conditions, however, indicate that Caboolture’s housing market is still undersupplied given the demand. Thus, planned future developments that will supply diversified choices for housing to meet different types of household composition and income, should have buyers and investors keeping their eyes peeled in Caboolture.
Caboolture Unit Price Growth
Caboolture’s unit market has also climbed by 21.39 per cent, driving up the median unit price from $187,000 from the previous year to $227,000 from October 2020 to September 2021. There were 175 units sold for this period with an average listing of 47 days on market.
Some pockets in Caboolture are filled with the working class who prefer to live in apartments. However, a few minutes near the CBD are newer but standard units.
About Caboolture
Located an hour away from Brisbane, Caboolture is considered the gateway to Sunshine Coast. The lifestyle in this suburb offers diversity as Caboolture is surrounded by quaint country villages, gorgeous mountain scenery, and white sandy beaches.
To the north is Upper Caboolture which has larger blocks of older homes and mini acreage. With developments moving in, newer mansions are also being built in this area.
The south section has a higher population than Upper Caboolture with plenty of house renovations underway. Most residents in this section are renters, where 80 per cent live in detached houses than apartments or small dwellings..
To the east and west sections of Morayfield Road, on the other hand, are riverside homes that are attractive for investors and owner-occupiers. Here, shops abound next to a vast green space, the Platypus Creek Environmental Reserve.
The Caboolture CBD, with its more urbanised development, is bigger than the south section. The commercial hub is Caboolture Square Shopping Centre and the area still has plenty of housing blocks overlooking the river.
The area near the Caboolture Public and Private Hospital has older properties that have been subdivided into apartments and townhouses, including aged care facilities. Several developments are also ongoing near St. Columban’s College.
Commute to Caboolture has improved with the second city train line from Gympie to Nambour. There are also bus lines serving commuters. Schools in the area include Caboolture State School near the CBD, Saint Paul’s Lutheran Private College, Tullawong State School and State High School, Minimbah State School, Morayfield State High School, Caboolture East Primary School, and Australian Christian College – Moreton.
“Caboolture is growing in amazing ways. There is an outstanding amount of developments underway, So whether you are a first home buyer, renting or a young family starting out the options are endless.”
Tiffany Maricic
“Since I moved to Caboolture – I’ve found it quite convenient in terms of getting to all major shops (Morayfield Shops are very close to Caboolture Shops) – In overall satisfaction with the place, been happy about it. It can have drama here and there but overall, stay out of it and you’ll be fine… everyone around are friendly and wouldn’t mind recommending this place to others.
Prodagus
“As kids we moved around a lot through Australia, New Zealand & England. When we moved to Caboolture I knew this was where I wanted to stay. We had room for my brother to finally get the dirt bike he always wanted, there were plenty of close basketball courts and parks to satisfy my needs and we were basically under half an hour from the beach on one weekend to bushwalking up mt NgunNgun the next weekend. I got a job in Caboolture when I finished school and unlike many other parts of the country housing affordability has never really been an issue.”
DWC
