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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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
Top 68 suburbs for growth in Queensland revealed
Top 68 suburbs for growth in Queensland revealed. New data has shown the top 68 suburbs in Queensland for capital growth over the last 12 months to June, with the number one spot reaching triple digits.
Top 68 suburbs for growth in Queensland revealed
Outlined in the Real Estate Institute of Queensland’s Queensland Market Monitor report, REIQ CEO Antonia Mercorella said despite the ‘doom and gloom’ of the property market, there are still locations that are seeing large gains in profitability.
“A total of 68 suburbs throughout Queensland have delivered double-digit growth over 12 months, which is a really strong result,” Ms Mercorella said.
“And there are many more suburbs delivering strong single-digit growth. It’s a great market to be in at the moment.”
While south-east Queensland saw a lot of attention, there were some high growth suburbs found in central and northern Queensland.
The area with the strongest growth was Blackwater, which saw a rise of 151 per cent growth, which Ms Mercorella attributed to the resurgence of coal prices.
Aside from Blackwater, 10 other suburbs saw growth over 20 percent. These included:
- Spring Mountain with growth of 103.6 per cent;
- Collinsville with growth of 46.2 per cent;
- Minyama with growth of 45.8 per cent;
- with growth of 32.9 per cent;
- Hollywell with growth of 30.5 per cent;
- Miles with growth of 23.5 per cent;
- Mount Coolum with growth of 21.9 per cent;
- Dundowran beach with growth of 21.5 per cent;
- Boonah with growth of 21.3 per cent; and
- Idalia with growth of 21.3 per cent.
Ms Mercorella said the top 11 suburbs were indicative of steady growth across the state, but warned against calling it a ‘boom’.
“While we’re definitely seeing prices come back in western Queensland mining towns, such as Blackwater, these prices are still below their peak,” she said.
It’s unlikely we’ll see a return to pre-2013 prices in those areas anytime soon.”
While the top 11 suburbs show a spread of high growth suburbs through the state, 41 suburbs out of the 68 are located in the ever-popular south east corner of Queensland.
Of these, 15 suburbs were located in theCoast region, with the highest growing being Minyama, which ranked fourth overall.
The Brisbane region also saw a large number of high performing suburbs at 13. Hamilton was the region’s best performer and fifth overall.
Next was Ipswich with six suburbs, then the Gold Coast with four, Moreton Bay with three, while Redland and Logan suburbs did not rank.
Outside of south east Queensland, 27 regional suburbs ranked on the list, with the Townsville region recording four suburbs. Its highest performer was Idalia, which ranked 11th overall.
Next were the Cairns and Gympie regions, both recording three suburbs each. Cairns’ top performer was Palm Cove, which ranked 26th overall, while Cooloola Cove was Gympie’s top performer, which ranked 42nd overall.
While only recording one suburb, the Whitsunday region’s Collinsville ranked third overall.
The Bundaberg and Toowoomba regions both recorded two top suburbs, while the Banana, Charters Towers, Fraser Coast, Gladstone, Isaac, Livingstone, Mackay, Rocky, Scenic Rim, Somerset and Western Downs regions all had one top suburb each
The top 68 suburbs which experienced double digit growth over the last year to June 2018, according to the REIQ, are:
|Rank||Suburb||Median price||Capital growth over 12 months (as a percentage)|
|27||Charters Towers City||$142,500||14.0%|
First home buyers, investors in Queensland cashing in on spring selling season
THE number of homes for sale in some of Queensland’s entry-level markets has surged this spring selling season, as first home buyers and investors emerge from hibernation to hunt for bargains.
Local real estate agents are reporting a 50 per cent jump in the number of homes hitting the market in the outer northern suburbs of Burpengary, Morayfield and North Lakes since the start of August.
And new figures from property research firm, CoreLogic, reveal new listings are up 11.9 per cent in Brisbane over the month and 2.8 per cent higher than they were during spring selling season this time last year.
Unit listings have skyrocketed nearly 90 per cent in Fairfield and almost 60 per cent in Strathpine in the past 12 months, while there are at least 30 per cent more houses on the market in Middle Park than there were a year ago.
Raine & Horne Queensland general manager Steve Worrad said there was strong demand for housing in the state’s entry-level markets, driven by first home buyers and investors, who were being lured by their affordability compared with Sydney and Melbourne.
Reserve Bank of Australia data reveals the proportion of first-home owners loans has risen to 18.5 per cent this year from a low of 12.9 per cent two years ago.
Figures from home builder Porter Davis and realestate.com.au reveal that 46 per cent of would-be buyers in the Queensland market are currently looking to purchase their first home.
Raine & Horne Burpengary, North Lakes and Morayfield principal Gina Wells said entry-level four-bedroom properties in Burpengary were selling for $420,000, while homes in North Lakes started from $550,000.In Morayfield, entry-level properties were available from $330,000.
“First home buyers prefer suburbs such as Burpengary and North Lakes as they are only 40 minutes by rail or road from the Brisbane CBD, coupled with the region’s affordability.”
Ms Wells said investors made up about 30 per cent of buyers in the entry-level markets because they appreciated the region’s affordability, infrastructure and historically low vacancy rates.
“We’ve had an excellent September, and we expect the property markets in this region to motor along well into December thanks to a decent level of homes for sale and consistent buyer numbers, which include plenty of Sydney investors chasing the strong yields this region offers,” she said.
Nicole Taylor, 21, and her partner, Billy Mawson-Perini, 20, have just bought their first home in Burpengary — a four-bedroom, two-bathroom house on a 663 sqm block of land.
“We started looking around Rothwell and North Lakes and actually left Burpengary to the last minute, but when we saw this place, we loved it straight away,” Miss Taylor said.
“It’s got more land and the area’s nice. It’s good for a first home.”
Stan Egawa from Place – Sunnybank said those suburbs were attracting buyers in the $600,000 to $700,000 price range.
“There is good interest compared to some of the surrounding suburbs,” Mr Egawa said.
“We’re getting double digit buyers through open homes (in Mount Gravatt East and Holland Park), which is very strong.
“In Sunnybank, we’re only getting one or two people to an open home.”
Mr Egawa said many first home buyers were looking for a home they could move in to straight away and live in comfortably, but with potential to renovate the kitchen and bathroom down the track.
“Three-bedroom, one-bathroom houses are very popular,” he said.
“Their ideal location is Coorparoo or Greenslopes, however, they’re realising that for the amount of money they’ll be paying in that area, they’re going to end up with a lot older house or compromising on block size.”
Rob Karaka of All Properties Group said first home buyers were active at the moment in the suburb of Regents Park, with near new or new four-bedroom, two-bathroom houses on 600 sqm blocks were selling for between $400,000 and $550,000.
Shaji Rajan has just bought his first home in Regents Park after renting for three-and-a-half years.
For just $430,000, he was able to secure a five-bedroom, two-bathroom house on a 600 sqm block at 34 Lamberth Road.
But he had competition, with his offer only accepted after another offer fell through.
“Regents Park is a very good area and it’s affordable,” Mr Rajan said.
“For our budget, we can find very good houses here and good schools and it’s very easy for us to get to work.”
Algester and Calamvale on the southside are also attracting strong interest.
Andrea Manson of Belle Property – Calamvale said listings had jumped “substantially” this spring and first home buyers were keen to get in to the market before interest rates went up. “There’s that perception it’s going to happen sooner rather than later and so many (first home buyers) are wanting to lock in a lower rate while they can,” Ms Manson said.
“Anything under $500,000 in our area is very popular with first home buyers.”
Agents in regional parts of the state are also reporting a strong start to the spring selling season.
Home sales in Bundaberg are 5 per cent stronger than they were this time last year, according to Raine & Horne Bundaberg principal Joshua Rub.
“Values remain consistent despite the spike in sales and those properties that are priced, presented and marketed professionally are selling within 3.5 weeks,” Mr Rub said.
“Sales are higher this spring simply because we have more committed buyers than tyre-kickers.”
He noted the sale to a first homebuyer of a three-bedroom house close to the beach at 25 Heritage Drive, Bargara, for $272,000 within two weeks of hitting the market.
“In Bundaberg and Bargara, local first home buyers and investors are extremely active this spring,” Mr Rub said.
In Gladstone, which had been hit hard by the mining boom hangover, home sales are at their strongest point in four years, according to Raine & Horne Gladstone principal Mark Patton.
“Well-priced entry-level properties valued upwards of $140,000 offer excellent value and incredibly competitive yields that are as high as 7.5 per cent,” Mr Patton said.
“The savvy buyers have recognised the Gladstone market has reached the bottom and they are making their presence felt at open homes.
“Many have also realised that by buying now, they’ll have a good opportunity to share in some capital growth too.”
FIRST HOMEBUYER HOTSPOTS THIS SPRING SELLING SEASON
Suburb Median house price
North Lakes $492,000
Suburb Median house price
Mount Gravatt East $657,000
Holland Park $710,000
Regents Park $410,000
Town Median house price
(Source: CoreLogic, Raine & Horne, Place Estate Agents, All Properties Group, Belle Property)
Originally published as Where Qld first home buyers are looking this spring
Renewed hopes of saving North Lakes Golf Club
Residents living around the financially troubled North Lakes Golf Club are increasingly hopeful it can be saved from being turned into a retirement community.
The course has been bought by developer Village Retirement Group and is due to close at the end of 2019 although a DA is yet to be submitted.
The Save North Lakes Golf Club group met with Moreton Bay Regional Mayor Allan Sutherland this week and spokesman Andrew Cathcart tells Mark he is confident local will get a fair hearing.
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