Morayfield suburb profile
Morayfield is a rapidly growing suburb located in the Moreton Bay Region, approximately 44km north of Brisbane's CBD. Known for its family-friendly atmosphere, Morayfield offers a mix of suburban living and rural charm. The suburb is well-served by amenities, including the Morayfield Shopping Centre, schools, and recreational facilities. With easy access to public transport and major highways, Morayfield provides convenient connectivity to Brisbane and the Sunshine Coast. Its blend of affordable housing, community spirit, and expanding infrastructure makes Morayfield an attractive option for families, first-time homebuyers, and investors looking for growth potential.
Morayfield property market performance
Current median dwelling price$694,000Past 3 months
Property growth+9.0%Past 12 months
Morayfield's property market has experienced notable growth over the past 12 months, with house values increasing by 13.3% and unit values rising by 4.7%. The current median house price stands at $800,000, while the median unit price is $588,000, indicating a strong demand for both property types.
Sales activity has been robust, with 149 houses and 30 units sold over the last 12 months. Houses are taking a median of 39 days to sell, whereas units are moving faster with a median of 22 days on the market, suggesting a higher demand for units.
The rental market in Morayfield has also seen growth, with average rents for both houses and units increasing by 6.2% over the past year. The average rent for houses is $595, while units average $483, reflecting a healthy rental demand in the area.
Houses | Units | |
---|---|---|
Median price Past 3 months | $800K | $588K |
Change in value Past 12 months | 13.3% | 4.7% |
Sold Past 3 months | 149 | 30 |
Median days on market Past 12 months | 39 | 22 |
Average rent Past 12 months | $595 | $483 |
Change in rent Past 12 months | 6.3% | 6.2% |
5 year median price trend for houses and units
Morayfield demographics
Morayfield, located in the Moreton Bay Region of Queensland, is a thriving suburb known for its family-friendly atmosphere and growing community. With a population of 24,898 and a median age of 34, Morayfield is home to a diverse mix of residents, including young families, professionals, and retirees. The suburb's proximity to Brisbane and the Sunshine Coast makes it an attractive location for those seeking a balance between urban convenience and a relaxed lifestyle.
The housing market in Morayfield is varied, with a significant portion of properties being rented, accounting for 45.2% of the housing stock. This high rental rate indicates a demand for flexible living arrangements, appealing to both young families and professionals. Additionally, 34.5% of properties are owned with a mortgage, while 20.3% are owned outright, reflecting a stable and growing community with opportunities for homeownership.
Family dynamics in Morayfield are diverse, with couple families with children making up 38.5% of the population, while couple families without children account for 35.8%. One-parent families represent 24.1%, highlighting the suburb's inclusive and supportive environment for various family structures. The median total household income of $1,442 per week suggests a comfortable standard of living, with residents benefiting from the suburb's amenities, schools, and recreational facilities.
Morayfield infrastructure, key developments and investment opportunities
Morayfield is experiencing significant developments that could impact its property market. The ongoing expansion of Morayfield Shopping Centre, set to add new retail and dining options, is likely to enhance the suburb's appeal and potentially boost nearby property values. Additionally, the recent upgrade of Morayfield State High School has improved local education facilities, which may attract more families to the area.
Infrastructure improvements, such as the planned upgrades to Morayfield Road and the nearby Bruce Highway, aim to enhance connectivity and reduce traffic congestion, potentially increasing property desirability along key routes. The development of new residential estates on the outskirts of Morayfield is expanding housing options while maintaining the suburb's mix of urban convenience and semi-rural charm. These projects, combined with Morayfield's proximity to Brisbane and the Sunshine Coast, are likely to sustain strong demand for properties in the area.
Morayfield rental market trends
The rental market in Morayfield has experienced steady growth, with both house and unit rents increasing by 6.2% over the past year. House rents now average $595 per week, while unit rents are at $483 per week. This consistent rise reflects the suburb's appeal, driven by its affordability and accessibility, making it an attractive option for both renters and investors.
Suburbs near Morayfield
Some popular suburbs near Morayfield include:
How does Morayfield compare to nearby suburbs?
- Median house prices: Morayfield’s median house price is 8.8% higher than Caboolture South’s.
- Median unit prices: Morayfield’s median unit price is 15.3% higher than Caboolture’s.
- House price growth: Over the past 12 months, house prices in Morayfield have grown 0.4% higher than in Caboolture.
- Unit price growth: Property prices in nearby Caboolture South have risen 34.5% more than in Morayfield over the past year.
- Selling speed for houses: Properties in Morayfield are selling 9.3% faster than in Caboolture.
- Selling speed for units: Properties in Morayfield are selling 60.0% faster than in Caboolture.
- Investment considerations: In Morayfield, the rental yield for house is 11.9% lower than the Brisbane average, while the rental yield for units is 21.3% lower.
- House price growth: Over the past 12 months, house prices in Morayfield have grown 29.5% lower than the average rate of growth across Brisbane.
- Unit price growth:Over the past 12 months, unit prices in Morayfield have grown 19.8% lower than the average rate of growth for units across Brisbane.