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Beerwah housing set to boom
Written by Administrator   
Thursday, 09 November 2006
BEERWAH might be an ugly duckling now, but it has the potential to develop into a real estate swan.   Maleny author Terry Ryder, a specialised real estate researcher and writer, believes that Beerwah will become a hotspot in the future.

 “There’s a movement of people looking for a lifestyle change,” Mr Ryder said.   “Railway towns, like Beerwah, are less expensive than areas such as Maleny and Montville.   There are benefits for people working in the city, but not living in the city.”

Mr Ryder has developed 10 categories to help in determining future property hotspots.   “My formula is fairly simple.   An area needs to have three or four creator categories to become a hotspot.   Beerwah has three,” he said.

Beerwah is undergoing some major infrastructure development, with the train line to be upgraded and increased shopping facilities.   “Infrastructure development is a strong growth indicator,” Mr Ryder said.   “Roads and rail services make an area more accessible and increase the area’s popularity. As property is still relatively affordable, refugees from the city will think more and more about Beerwah.”   Beerwah also falls into Mr Ryder’s category of an ‘ugly duckling’.

“These are the strongest growth areas in real estate.    They are the areas that are probably not people’s first choice, especially those looking for a tree or sea change, but because of property booms, people are forced to look at these areas,” he said.

“Certainly in Beerwah, acreage prices are cheaper than those in Maleny and Montville. The median prices for real estate in Beerwah is a little over $300,000.    That’s about $100,000 cheaper than on the Range,” he said.   The third category that Beerwah is in is the ‘ripple effect’.

“When the [real estate] market moves in the up
cycle, it starts in prime areas and as these become too expensive, people look further out.   Many people can’t afford to buy in Maleny and Montville, so they look for areas close by,” Mr Ryder said.

Other categories Mr Ryder believes real estate
investors should be looking for include areas of potential sea change and tree change.   Water and lifestyle features are another category.   “Properties fronting water, or with views to water, grow twice as fast as other real estate,” he said.   “Areas of urban renewal, where industrial areas are being turned in residential areas is also something to look for.”

Mr Ryder has developed a website, hotspotting.com.au that is designed to let real estate investors know about areas that will become hotspots of the future.



 
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