Cush for Comment: Buy where there’s planned growth

News Corp Australia Network

Award-winning auctioneer Haesley Cush of Ray White.

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Swapping the flip-flops for shoes has been a bit of a change lately.

But what didn’t change — whether my toes were in the sand or on the bitumen — was people asking; “What do you think the market will do this year?”

Haesley Cush’s first auction of the year saw 16 bidders line up for a two-bedroom apartment at Point Lookout on North Stradbroke Island. The property sold for $542,000. Picture: Debra Bela

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Trying to pick a market is usually a fruitless exercise, instead consistency in investing is what offsets the peaks with the troughs.

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But I know that advice doesn’t sell papers, pardon the pun, so here are some thoughts.

Lifestyle locations like the beach, the bush, or the bay, are enhanced at holiday times, because of the increase in population and the romance of a holiday home.

But when you’re back, if you are looking at an area, holiday rental or otherwise, assess whether there is likely going to be an infrastructure improvement or some other driver that will result in a surge in the local population.

For example, Queens Wharf being launched in Brisbane and the new bridges to the city should see an uplift in apartments in the botanical gardens precinct of town and neighbouring Kangaroo Point.

An artist’s impression of the new Kangaroo Point Green Bridge that is under construction. Picture: Brisbane City Council.

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I believe the new bridge link to Kangaroo Point, against its lagging price point, will see that suburb lift in 2023.

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Similarly, Woolloongabba is having a major facelift, as is Toowong with the ‘Aviary’ development now underway.

Aviary Toowong will be a completely new urban community precinct including residential, retail, hospitality, office and shared outdoor spaces alongside an entirely new streetscape that is set to become a thriving, lifestyle destination for the area. Photo: Supplied

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This will create jobs and see some major improvements to transport. Both are suburbs to watch.

Finally, my gut tells me that renovators and first home buyers will be strong this year.

I think units should move well for the first six months of the year.

Renovators should also see a strong surge from first-home buyers and interstate home buyers, both keen to jump into the DIY market.

This renovator at 48 Laura St, Clontarf goes to auction on January 21 at 10am through Andrew Campbell of Ray White Redcliffe.

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* Haesley Cush is an award-winning auctioneer who has called more than 10,000 auctions. He co-owns Ray White New Farm, Spring Hill, Toowong, Clayfield, East Brisbane, Bulimba and Living Here Cush Partners.