Buy in Deception Bay for less than $700,000

News Corp Australia Network

There are many champions of the waterfront enclave locals affectionately know as ‘D Bay’.

“Double Bay? No, this is Deception Bay, the other D Bay,” local resident Dave McDonald said at a recent auction.

“They used to call it Depression Bay before they built the police station down the other end of D Bay. It was a bit of a rough place but they got the police station in and tidied it up.”

MORE QLD PROPERTY NEWS

The fast-developing suburb is now considered a growth area for investment with residential developments around Rothwell and North Rise giving the suburb a more family-friendly focus.

SEE WHAT’S FOR SALE IN DECEPTION BAY

With a median house price of just over $600,000, this is a suburb that can still offer affordability, despite house values growing by 22 per cent in 12 months.

“House prices here are not going to go backwards, no way. How can they when you are this close to the water?” Ray White Deception Bay Principal Leslie Robins said.

“Go down to the waterfront. It’s absolutely stunning.

“As soon as the internet came and people were sitting down there in Double Bay (in Sydney) and had a look at waterfront here for $150,000. It revolutionised things here a little bit.”

There’s a $4m difference in the current median price of houses between the two D Bays, but Moreton Bay locals know where they’d prefer to live.

“I got out of the Air Force and settled here in 1988,” Mr McDonald said. “I’ve had four boats … was going to buy another but we bought a caravan instead and are thinking about travelling. But we love this place.”

Ray White Deception Bay recently took 18 Webster Rd to auction and the property initially passed in before selling 20 minutes later for $670,000 to a buyer whose finance had just come through.

“Interest rates are reducing the amount of money people can borrow so it’s definitely having an influence on the market but the suburb can actually triumph to a certain extent over this by how attractive it is. And investors here are very strong. This is a terrific place to invest.”

Deception Bay is less than 40km north of Brisbane and is accessible by car and bus.

It is bordered by the waters of Moreton Bay to the east, Burpengary to the north, Narangba to the west and Dakabin and Rothwell to the south.

The suburb is popular with families, professionals, retirees, singles and students.

More than 20 per cent of the suburb is parkland and there are a selection of public and private schools in the neighbourhood.

VITAL STATS

Suburb: Deception Bay

Median age: 51

Median house price: $605,000

Median unit price: $500,000

Record house price: $1.94m in September 2021

Median rental income: $300 for a 3-bedroom house

Number of properties for sale: 42

Number of properties for rent: 12

Sources: realestate.com.au/PropTrack monthly Market Trends report/ABS