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Brisbane suburbs going up in value

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Property and rental value in some of Brisbane’s suburbs is increasing. Check out this list to see if your suburb is the place to invest in 2014.

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Where is it: 8km north-east of the CBD, next to Toombul and Geebung.

Why it’s trending: Property prices are still relatively low, given its proximity to the city and great transport links. The recent ‘I (heart) Nundah’ campaign is hinting at its growing appeal to a younger market.

Median rent: $425/week for a three-bedroom

Median sale price: $610k for a four-bedroom

Cultural hotspots: Centred Art on Hamson Terrace, with its curated selection of Indigenous and local art.

Foodie hotspots: Nundah Village has a good selection of independent cafes for weekend brunches, and you’re a 10 minute drive to Paddington and Red Hill.

Who your neighbours are: Young families who work in the city.

Wynnum

Where is it: Next door to Manly on the east coast of Brisbane, approx. 16 km from the CBD.

Why it’s trending: Bayside properties are the next big thing in Brisbane, as people move out of the overpriced inner-west and seek seaside living with good links back to the CBD.

Median rent: $400/week or a three-bedroom

Median sale price: $417k for a three-bedroom

Cultural hotspots: Wynnum Markets – held daily – have some excellent vintage treasures and antiques for the home, as well as showcasing local artists

Foodie hotspots: There are some great local cafes opening up along the waterfront, as well as a good selection of high-street chains – Capers Pizza, Sushi Train etc. The older-style waterfront pubs are enjoying a revival and serve great food.

Who your neighbours are: Aspirational 35 to 44 year-olds with teenage children.

Chermside

Where is it: 10km north of the CBD, next to Aspley.

Why it’s trending: Once seen as the daggy stopping point between the CBD and the northern suburbs, Chermside is coming into its own as an affordable, convenient and bustling suburb with excellent transpor.

Median rent: $390/week for a three-bedroom

Median sale price: $440k for a three-bedroom

Cultural hotspots: Forget Westfield Chermside – although it is convenient – and head up Gympie Road towards Wooloowin for local galleries and theatres.

Foodie hotspots: Scuzi at Westfield Chermside is surprisingly good for Saturday brunch, while Bella Cosi serves authentic Italian in a beautiful space.

Who your neighbours are: Independent 20 to 30 year-olds who work both creative and public sector jobs.

Annerley

Where is it: 6km south of the CBD (and 3km from UQ St Lucia using the Green Bridge), Annerley connects to the rest of Brisbane via Ipswich Road and easy access to the Clem 7 tunnel.

Why it’s trending: Several new apartment blocks and a new shopping complex are turning the tired Annerley strip into somewhere convenient and fresh. Trendy cafes are popping up and the new Red Lotus and Billy Kart Kitchen have been immediate hits with locals.

Median rent: $450 per week – units $380 per week

Median sale price: $535,000 – units $378,666

Foodie hotspots: Groove Café, Billy Kart Kitchen, Café O-Mai, Azafran, Red Lotus, BOX’D Espresso Bar.

Who your neighbours are: Young professionals (25-34 years) with children.

Auchenflower

Where is it: 3km south of the CBD, next to Toowong and Milton.

Why it’s trending: Toowong’s little sister is growing into her own – close to the city, UQ St Lucia and the hotspots of Paddington and Toowong, Auchenflower is a quiet achiever and certainly one to watch

Median rent: $530 per week for three bedroom

Median sale price: $760,000 for three bed

Cultural hotspots: Mt Coot-tha Botanic Gardens.

Foodie hotspots: Café Auchenflower, Deer Duck Bistro, Toro Bar, Grimes Bistro.

Who your neighbours are: University students and young professionals.

Tennyson

Where is it: Just under 10km from the city – easy access via train line.

Why it’s trending: The new Queensland tennis centre is just the beginning for Tennyson. Close to hotspot Yeronga, Tennyson’s development is pointing in the direction of up-and-coming. If gentrification plans for Yeerongpilly go ahead, Tennyson (with its low investment prices) will be the place to be.

Median rent: $420 per week for three bedroom

Median sale price: $529,000

Cultural hotspot: Queensland Tennis Centre.

Foodie hotspots: Buzz Tennyson, The Hyde Out, Anesis.

Who your neighbours are: Older couples and families.

Dutton Park

Where is it: Dutton Park lies east of the Brisbane River, opposite from St Lucia. It’s 4km from Brisbane CBD, a 5-7 minute drive or 14 minutes by train.

Why it’s trending: Dutton Park’s appeal lies in its river frontage and proximity to the CBD. Many of the old style cottages have been recently renovated into modern apartments. It’s well serviced by public transport, and currently look forwards to development of the Boggo Road precinct – proposed to be a residential, retail and commercial centre.

Median rent: $540/week for a three-bedroom

Median sale price: $624k for a three-bedroom

Cultural hotspots: Dutton Park is dominated by a recreation area which is popular for picnics, tranquil riverside walks and a free-leash area for your furry friend. Otherwise, most locals head to the city for cultural events.

Foodie hotspots: Woolloongabba is a stone’s throw from Dutton Park, where an upcoming bar scene can be found. The Canvas Club, Chalk Hotel and Brewhouse Brisbane are the best picks of the bunch.

Who your neighbours are: It has a population of approximately 4100, comprised mostly of independent, working adults.

Fun Fact: The Boggo Road Gaol opened in 1883, and was only demolished in 1996.

 Balmoral

Where is it: Balmoral is an inner eastern suburb, 9km from the CBD, a 10-15 minute drive, or 20 minutes by train.

Why it’s trending: Balmoral was the top Brisbane suburb for house value growth in 2013, with a rise of 15.2 per cent. It’s also a neighbour of Bulimba – a popular, picturesque village.

Median rent: $700/week for a three-bedroom

Median sale price: $677k for a three-bedroom

Cultural hotspots: Balmoral Park and the Cineplex are two local hangouts spots for the weekend.

Foodie hotspots: The Oxford Street precinct has plenty of award-winning alfresco dining options.

Who your neighbours will be: The median age for Balmoral is about 35, and is populated by working adults, established couples and families.

Fun Fact: Balmoral is an Anglicisation of Baile Mhoireil’ which is Scottish Gaelic for ‘beautiful residence’ or ‘majestic castle.

 Mitchelton

Where is it: Mitchelton is 8km northwest from Brisbane CBD, a 15-20 minute drive or 35 minutes by train.

Why it’s trending: Many Brisbane families have found an ideal home in Mitchelton. The parks and recreation facilities, schools and low crime rate have been ranked as the top factors.

Median rent: $360/week for a three-bedroom

Median buy: $480k for a three-bedroom

Cultural hotspots: Brookside Shopping Centre is the largest retail precinct in northwest Brisbane

Foodie hotspots: Mitchelton residents flock to the farmers’ markets, held monthly on a Sunday morning, for the gourmet delicatessen foods, fresh produce and artisan breads.

Who your neighbours will be: Established/older couples and families with children. Mitchelton also has a diverse, multicultural community.

Fun Fact: Mitchelton’s name comes from one particular English family, who settled in the area in the 1870s

Sandgate

Where is it: Sandgate is a coastal suburb located 16 km north of the Brisbane CBD.

Why it’s trending: Sandgate’s position on Brisbane’s coastline is attracting families who want a relaxed lifestyle, while still being within a close commute to the Brisbane CBD.

Median rent: $410/week for a three-bedroom

Median buy: $473k for a three-bedroom

Cultural hotspots: Sandgate hosts a range of festivals and markets each year, including the Sandgate Bluewater Festival and the Music By The Sea Festival.

Foodie hotspots: There are plenty of seaside cafes and takeaways opening up along the Sandgate waterfront including Little Crepe Factory and Dougs, as well as a new cool and quirky drinking establishment Cardigan Bar.

Who your neighbours will be: Established/older couples and families and elderly singles.

Redcliffe

Where is it: Redcliffe is a residential suburb of the Moreton Bay Region, approximately 28 kilometres north-north-east of Brisbane.

Why it’s trending: The Moreton Bay Region is one of the fastest developing places in Australia and with its low median prices Redcliffe appeals to older generations wanting a getaway from the city, without living on the coast

Median rent: $330/week for a three-bedroom

Median buy: $330k for a three-bedroom

Cultural hotspots: The Redcliffe Jetty markets are on every Sunday on the Redcliffe foreshore.

Foodie hotspots:  Redcliffe has plenty of pubs, clubs and cafes along its foreshore including Brick Bistro Bar, The Rustic Olive, Workshop Co. Expresso Bar, and Feel Goodz Gourmet Café.

Who your neighbours will be: Elderly singles, older couples and families and older independence.

Carindale

Where is it: Carindale is located 10 km east of the Brisbane CBD.

Why it’s trending: With its close proximity to the city and affordable pricing, there has been an increase in independent youth and maturing couples venturing to this east side suburb.

Median rent: $450/week for a three-bedroom

Median buy: $570k for a three-bedroom

Cultural hotspots: Carindale is home to Westfield Carindale,which became the sixth-largest shopping centre in Australia on completion of redevelopment in 2012.

Foodie hotspots: Carindale offers a diverse international palette, with some of the favourite hotspots of this suburb according to Urbanspoon being Chang Tong Thai, Asia House Chinese, Roman Empire restaurant, A Night In India and Backstreet Expresso.

Who your neighbours will be: Older couples and families and older independents are currently among the majority in Carindale, with younger trends recently being seen in the suburb.

 

Original article published at www.bmag.com.au  6/3/2014

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Ipswich

Are these Australia’s cheapest blocks of land?

Are these Australia’s cheapest blocks of land

Just when we thought we had found the cheapest – a patch of dirt for $4.94 a square metre near the Queensland and NT border – we found another one.

And this “dirt cheap” vacant block is on the market for $2.08 a square metre – less than a 2L bottle of milk!

The fully fenced rural block of land has town water available and “power close by” but is only suitable for horses or recreation, hence the price.

Are these Australia’s cheapest blocks of land 1

It is listed with LJ Hooker Gayndah.

In Camooweal, yes that one near the border, a “drovers dream” is listed at 54 Cronin Street for $10,000.

With 2024sq m of vacant land that works out to be $4.94 a square metre — less than a beer at the local pub or a foot-long sub on discount day.

Are these Australia’s cheapest blocks of land 2

To help you wrap your head around that, that block of land would cost you over $1 million in Ipswich.

A recent report by property services group Oliver Hume found that Ipswich had the best value dirt in southeast Queensland, with land averaging $507 a square metre.

That is nearly half the price of vacant land in Brisbane, where buyers can expect to pay an average of $970 a square metre, so that block of land in Camooweal would set you back almost $2 million in the big smoke.

Bronwyn Finch of Jays Real Estate Mount Isa is marketing the Camooweal vacant block, which is located off the Barkly Highway.

Are these Australia’s cheapest blocks of land 3

Camooweal had a population of 208 at the time of the 2016 Census, with the average resident aged 36.

“It is walking distance to the local shop and garage, and you can wave at the tourists as they go past,” Ms Finch said.

“I sold another block about a year back, same deal for about $8000.”

Ms Finch said the cheap blocks were usually purchased by retirees looking for a spot to park their van between trips.

Are these Australia’s cheapest blocks of land 4

She noted it would be a tough ask to get a car park in Brisbane for the same price.

“It is quite close to the Gregory River, which is beautiful, and Adels Grove, our premiere tourist attraction out here, is about an hour away.

“That’s close for us. That’s a daily commute in the city.”

Are these Australia’s cheapest blocks of land 5

Meanwhile in Mungallala, a tiny outpost on the Warrego Highway west of Mitchell, is a 1012sq m vacant lot of land that is on the market for $6000, or the nearest offer.

That’s $5.92 a square metre – less than a cup of coffee in Ascot.

It is listed with Ray White Charleville agent Glenda Fill.

“There has been a new house built in the town in the last two years,” she said.

“It is very small town off the Warrego Highway and had a population of 136 in 2016.

“It is an hour and a quarter from here (Charleville) so it’s a bit closer to the coast than we are.”

And in Westwood, which is about half an hour from Rockhampton, the beef capital of Queensland, is an 1800sq m block for $9000.

There is also another 1174sq m lot for $8000, and the 962sq m lot, which was listed for $6000, has sold.

Are these Australia’s cheapest blocks of land 6

“Blocks are not serviced and would suit ‘off grid’ living,” the listing says.

“There is no town water in Westwood – households rely on tank or underground (bore) water.

“No town sewerage (septic or bio), Westwood has electricity – no current supply to this estate.”

Marketing agent John Neumann of Discover Real Estate said “it’s a bargain” with a “rural outlook”.

“There is a rail line nearby, a mining one,” he said. “I think there is a pub, a post office and a police officer there.

“It is only about 50km from Rockhamption and it is on the western highway to the mining belt.”

Mr Neumann said he had already had some interest in the lots, mostly from grey nomads looking for a base and people keen to “go off-grid”.

He said he had even had inquiries from uni students looking to get a leg – or toe – on the property ladder.

Westwood had a population of 174 during the 2016 census.

It was the first new town proclaimed in the Queensland Government Gazette, after the state became a separate colony back in 1859.

Are these Australia’s cheapest blocks of land 6

 

 

Source: www.qt.com.au

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Brisbane

‘The margin will never be this close again’: Brisbane’s waterfront secret where property is still affordable

‘The margin will never be this close again’ Brisbane’s waterfront secret where property is still affordable 3

Think “Brisbane waterfront” and Moreton Bay darlings Wynnum and Manly quickly spring to mind.

But only 30 kilometres northeast, on the other side of the airport and a similar distance to the CBD, another bay-front suburb, Sandgate, appears.

The photogenic village topped Domain’s best performing Brisbane suburb list in 2018 with 18.8 per cent median house price growth.

Despite this overall rise in housing value, data-savvy local agent Jacqui McKeering makes the case that Sandgate’s waterfront properties are still undervalued compared to southside bay designer homes.

Ms McKeering, of Jim McKeering Real Estate, says Sandgate waterfront still remains great value because family groups have to buy further back to get more features.

‘The margin will never be this close again’ Brisbane’s waterfront secret where property is still affordable 1

“When the price-to-rateable-land-value gap narrows, you are getting a bit of a bargain,” she says.

“A simple calculation to illustrate this point shows the market value of Sandgate waterfront properties not that much greater than the rateable land value; on average 32 per cent greater.

“In fact one waterfront property sale, back in 2017, sold for 15 per cent less than the rateable land value, yet one block back and without bay view properties have a greater gap of 42 per cent.

“One particular [non-waterfront] property sold as high as 66 per cent greater than the rateable land value.

“The outtake here is there is plenty of money to be made on Sandgate waterfront properties.

‘The margin will never be this close again’ Brisbane’s waterfront secret where property is still affordable 2

“I do believe the margin between waterfront properties and the neighbouring streets will never be this close again.”

Flinders Parade, which runs along the foreshore of Sandgate and into Brighton, plus Eagle Crescent and Shorncliffe Parade, are the waterfront property strips in focus.

Ms McKeering says a lot of people have been buying these older houses and renovating and that at the moment there is some choice in “real cheapies” from about $900,000 to about $1.35 million.

“I know someone who bought for $1.4 million in 2017 with a $1.8 million renovation budget,” she says.

“When you see that sort of money coming into an area, it tells me people are seeing long-term capital value in this area.”

‘The margin will never be this close again’ Brisbane’s waterfront secret where property is still affordable 3

Fellow Sandgate agent Tamara Wecker of RE/MAX agrees suburb 4017’s waterfront properties are priced and selling considerably under their comparable Brisbane market values.

“When compared to Wynnum and Manly,” Ms Wecker says, “absolutely; I mean you can live in the Taj Mahal in Sandgate for about $1.5 million.”

She is seeing buyer migration from Sydney and “a little bit from Perth” because of affordability, and thinks Sandgate’s strict rules, which prohibit multi-unit developments on its waterfront, is a further drawcard.

“People tend to think of Wynnum and Manly but here you can have a premium home and lifestyle only 30 minutes from the city,” Ms Wecker says.

“To be honest, it has been a bit of a secret because we are off the highway so you have to have a reason to come here, but that is changing in the past 18 months.

“We are getting more inquiries from people, even from Brisbane, who just did not know about us.”

Mark Crew has been selling Sandgate housing since 1990 and thinks people have woken up to how great a suburb it is in the past 18 months.

The Professionals’ agent has reported strong interest from Sydney buyers “looking for a better family lifestyle”.

He estimates 25 to 30 per cent of Sandgate buyers this year have come from the neighbouring suburbs of Shorncliffe, Deagon and Brighton; people who want to upgrade but stay in “the village”.

“It is 31 minutes to the CBD and you can be walking on the waterfront with your kids after work and we’ve got excellent schools too,” Mr Crew says.

Regarding Sandgate’s waterfront property market and its value, he says three factors should be considered.

“There are few waterfront properties for sale, land is scarce and over the past 20 years there has been a lot of change to the houses themselves, a lot of renovation and/or raising older three-bedroom cottages and transforming them into often substantial five-bedroom luxury houses,” he says.

“So these houses on their waterfront blocks are, quite rightly, going to fetch more in sale prices when they do one day return to the market; and that is showing.”

 

 

Source: www.domain.com.au

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Brisbane

Cheap Units In Brisbane Suburbs

Cheap Units In Brisbane Suburbs

Twelve suburbs in Brisbane have a median unit price of just under $400,000, according to Domain’s June House Price Report.

Ten out of these 12 suburbs are in the inner city, the report said.

Bowen Hills, Fortitude Valley, Albion, and Spring Hills are all within three kilometres of the Brisbane CBD. The median unit prices in these suburbs are below $400,000, the figures showed.

East Brisbane, Coorparoo, Clayfield, Nundah, Taringa, and Kedron also offer some of Brisbane’s cheapest unit values, according to the report.

Bowen Hills is the cheapest suburb to buy a unit, with prices falling 13.7% in the past 12 months, the figures showed.

Here are Brisbane’s cheapest suburbs to buy units by median price, according to Domain:

SuburbMedian priceYoY % growth5-year % growth
Bowen Hills$362,500-13.70%-18.80%
Runcorn$368,2504.80%-11.60%
Richlands$370,000-2.00%9.50%
Clayfield$375,0004.20%-2.10%
East Brisbane$378,000-7.40%-5.50%
Coorparoo$382,000-7.70%-2.30%
Nundah$385,000-6.70%-6.10%
Taringa$385,000-14.40%-4.90%
Kedron$387,000-3.30%6.30%
Fortitude Valley$392,000-6.80%-8.90%
Albion$397,500-10.00%-10.70%
Spring Hill$398,000-8.50%-2.70%

In Greater Brisbane, the median unit price fell 8.6% over the year to June, according to the report.

The capital city’s unit prices are “sitting at 2013 levels”—down from their peak in 2015, according to Domain research analyst Eliza Owen.

However, prices are expected to bottom out this year, with the end of the downturn in the unit segment in sight, Owen said.

“Unit listings are also moderating, which should reduce downward pressure on prices,” she said.

 

 

Source: www.yourinvestmentpropertymag.com.au

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