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
SEQ begins big push for a billion-dollar City Deal
Queensland Premier Annastacia Palaszczuk (left) and Treasurer Jackie Trad are pushing for a City Deal for south-east Queensland.
Photo: AAP/Dan Peled
Political delays dogging infrastructure projects will be history if talks on Tuesday morning cement a new billion-dollar 15-year City Deal for south-east Queensland between all three levels of government.
Such a deal could benefit 3 million people catching trains and buses, driving on highways, building businesses, looking for housing, and finding school and universities between the Sunshine and Gold coasts and west to Toowoomba.
Deputy premier Jackie Trad and Brisbane’s lord mayor Graham Quirk will on Tuesday morning outline how close the 10 south-east Queensland councils – Brisbane, Ipswich, Logan, Moreton Bay, Redland, Scenic Rim, Somerset, Sunshine Coast, Toowoomba and Lockyer Valley – are to signing Australia’s largest City Deal with the federal government.
Australia now has three City Deals backed by the federal government: Townsville (2016), Launceston (April 2017) and Western Sydney (March 2018).
Cr Quirk, the chairman of Council of Mayors (SEQ) that represents the region’s local governments, described a City Deal for the area as “a dramatic change”.
“The power of aligning the efforts of all levels of government and securing a long-term program of investment in our region will be a game changer,” Cr Quirk said.
“For the first time, all levels of government will be working in unison to protect and enhance the prosperity and liveability of south-east Queensland.”
Brisbane’s lord mayor Graham Quirk begins a campaign for a City Deal funding package for 10 councils on Tuesday morning.
Photo: Fairfax Media
A City Deal binds the three levels of government — federal, state and local — as a group to agree to a 15-year rolling funding program of infrastructure projects that a fast-growing region needs.
As projects provide a lift in land value, that financial uplift is identified, captured and then re-invested into the infrastructure funding pool, under a model first identified in Manchester in 2012 and then in Brisbane in 2014.
In April 2018, Cr Quirk and Ms Trad met the federal government’s new Cities and Urban Infrastructure minister Paul Fletcher, when they first put forward the SEQ City Deal.
All parties described those 2018 talks as “positive”.
Cr Quirk and Ms Trad will begin the public push for the SEQ City Deal at a business breakfast at Brisbane’s Convention and Exhibition Centre on Tuesday.
“We secured Australia’s first ever City Deal in Townsville, which is paying dividends with projects like the North Queensland Stadium, delivered through the City Deal,” Ms Trad said.
“That is under construction and on track to be open for the start of the 2020 NRL season.”
Townsville’s City Deal is a 15-year arrangement, while Launceston’s is a five-year deal and Western Sydney’s is a 20-year deal.
The federal government is tipped to announce City Deals for Geelong and Darwin by September 2018, allowing planners to work on Hobart, Perth and south-east Queensland over 18 months.
How could it help?
It locks in project funds over 15 to 20 years, moving them away from political promises, which are subject to election outcomes. It could remove election squabbling over the same project.
It sets out a timetable for projects allowing the private sector to invest more confidently.
It could help the next generation of infrastructure projects, after the Pacific Motorway, Cross River Rail and Brisbane Metro projects were all delayed by politics, angering voters.
It has also been mentioned as a way of funding Moreton Bay’s new university campus at Petrie and breathing life into the Brisbane River’s Resilient Rivers proposal.
What is Townsville’s experience after 18 months?
The Townsville City Deal was signed on December 9, 2016. It is a 15-year agreement.
Work has begun on stage two of the 25,000-seat $250 million North Queensland Stadium. It will be finished for the 2020 rugby league season. It is funded by the federal and state governments, and Townsville City Council.
The Queensland government has promised $250 million for new water supply for Townsville.
A business case for new Townsville Port facilities is almost finished and the Queensland government has pledged $75 million for port upgrade.
Townville mayor Jenny Hill said choosing the right projects was essential to make a City Deal effective.
“The City Deal provides a roadmap for delivery that breaks the political cycle so it is very important to choose the right projects or areas for reform that will make the biggest difference to a city or region,” Cr Hill said.
“All three levels of government also need to buy into the key priorities of the local area that are included in any City Deal.”
Townsville Mayor Jenny Hill on top of Castle Hill with Townsville in the background.
SEQ City Deal – the background
- May 2012: Co-funding model idea began in United Kingdom.
- June 2015: Queensland prepares its own case for City Deals after Ms Trad looked at the UK City Deals idea in Manchester.
- 2016: Council of Mayors (SEQ), Queensland Property Council and the Queensland government put a plan together.
- November 2016: Queensland Premier Annastacia Palaszczuk signed a memorandum of understanding with prime minister Malcolm Turnbull in November 2016 to develop “tailored City Deals” for Queensland.
- February 2017: Ms Trad and Cr Quirk wrote to then-federal cities minister Angus Taylor, agreeing to a joint submission.
- Late 2017: A Cities Transformation TaskForce established in Brisbane.
- June 2018: Queensland’s major contractors called for a City Deal.
Where you can still invest by the water in QLD for less than $700k
IT’S unheard of in Sydney and a distant memory in Melbourne, but for under $700,000, it’s still possible to buy a house by the water near Brisbane.
In the sleepy beachside suburb of Margate, a four-bedroom house only a block back from the beach is up for grabs for offers over $599,000.
Down the road in nearby Scarborough, another four bedder just 200m from the water is available for $595,000 — little more than the cost of a Sydney car park.
Even in the popular family holiday spot that is Coolum Beach, a cute three-bedroom pad is going for $695,000.
New data provided exclusively to The Courier-Mail by RiskWise Property Research has identified the 10 best suburbs by the water in southeast Queensland to invest in.
Woody Point, 25km north of Brisbane in the Moreton Bay region, is the top pick, with a median house price of $490,000, followed by the neighbouring suburbs of Margate and Scarborough.
The coastal suburbs of Thorneside, Birkdale and Wellington Point, about 20km southeast of Brisbane, are also ripe for investment, according to RiskWise.
And what better time to scope these areas out for holiday homes than during school holidays.
RiskWise chief executive Doron Peleg said the suburbs were ranked based on affordability, proximity to water and distance from working hubs.
“Deception Bay is a great example because the prices there are significantly cheaper than what you see in alternative suburbs,” Mr Peleg said.
“Overall, anything that starts with a four or is below $500,000, when you get proximity to water at that price tag, it is extremely affordable.”
Mr Peleg said Coolum Beach was another good example because it was possible to work in Brisbane and commute.
“It’s also not far from Noosa, but a fraction of the price of Noosa Heads,” he said.
Mr Peleg’s only advice to investors looking in these suburbs was to think long term.
“The only thing you need to do is to buy and hold because of the nature of the real estate market and transaction costs in Queensland,” he said.
“Regardless of these specific areas, southeast Queensland currently represents outstanding value.”
James and Jasmine Campbell are selling their three-bedroom house at 1 Westbrook St, Woody Point, for just $485,000.
They bought the house almost six years ago as their first home and it has achieved solid capital growth in that time.
Mr Campbell said they loved being just 500m from the water and being able to stroll along the boardwalk of an afternoon with their two-year-old daughter, Pippa.
“The house is close enough that you still get that smell of the ocean,” he said.
Selling agent Brendan Philp of Abode Properties said Woody Point and Margate were becoming popular with owner-occupiers, either families, retirees or interstate buyers relocating from Sydney and Melbourne.
Mr Philp said the area’s sandy beaches and affordability — with the average house selling for around $500,000 — made it one of a kind.
“Geographically, you are 25 minutes to the airport, 30 minutes to Brisbane CBD, an hour to the Sunshine Coast — you can’t find another suburb for that sort of money,” he said.
“In Wynnum or Manly, you’re paying at least a third more.”
TOP 10 EMERGING WATERSIDE SUBURBS
Suburb Property type Region Median sale price
1. Woody Point House Moreton Bay $490,002
2. Margate House Moreton Bay $453,820
3. Scarborough House Moreton Bay $550,719
4. Thorneside House Brisbane – East $523,177
5. Birkdale House Brisbane – East $541,048
6. Wellington Point House Brisbane – East $589,185
7. Wynnum House Brisbane – East $639,622
8. Lota House Brisbane – East $635,082
9. Deception Bay House Moreton Bay $352,245
10. Coolum Beach House Sunshine Coast $637,984
(Source: RiskWise Property Research, CoreLogic)
Interstate migrants are moving to QLD … but they’re not coming to Brisbane
Less than 5 per cent of interstate migrants during the 2016-2017 financial year settled in Brisbane, according to data from the ABS. Photo: Glenn Hunt
Interstate migration to Queensland is booming but analysis shows most new residents are bypassing Brisbane for other regions in the Sunshine State.
Buyers’ agency Propertyology analysed ABS data, which showed there were 17,246 internal migrations to Queensland in 2016-17. But out of those, only 846 relocated to Brisbane, which equates to less than 5 per cent.
Propertyology managing director Simon Pressley said the lion’s share went to the Gold Coast, Sunshine Coast, Moreton Bay, Cairns, Ipswich and the Scenic Rim.
“We’ve read a lot about interstate migration to Queensland lately and it’s been growing each year, which is great,” he said.
“The thing is, people automatically think Queensland means Brisbane but when you actually look closely at the numbers, they tell a very different story.”
As a proportion of total population growth over 2016-17, the biggest beneficiaries of interstate migration were Tasmania (22.5 per cent) and Queensland (21.9 per cent).
House prices in the regions with the most internal migrations have mainly increased — house prices on the Sunshine and Gold Coasts have increased by 7.9 per cent and 3.3 per cent respectively over the past 12 months — although Mr Pressley said the correlation between population growth and house price growth was often overstated.
“I know logically it makes sense — if an area has a big surge in population, house prices should go up — but there’s much more to it than that,” he said.
“Jobs growth is a lot more important than population growth, so is wage growth, [and] affordability is also extremely important.”
REIQ Gold Coast zone chair Andrew Henderson said each of those factors was connected and all had contributed to the Gold Coast’s house price success in recent years.
“Our local economy is strong but it’s also changed. We’re no longer solely reliant on the tourism industry. The diversity of our job offering has changed,” he said.
“With new infrastructure like universities and hospitals, we’ve got people moving here from interstate into jobs who would have never been able to move here 10, 20 years ago.
“So the age of the people we’ve got moving here has also changed. We’ve always had a lot of retirees but we’ve noticed a surge in people in their 20s, 30s and 40s – people moving their whole families up here. Around Mermaid Waters and Clear Island Waters there’s a really strong southern presence.”
Andrew Campbell of Ray White Redcliffe said the influx of interstate migrants buying up locally in the Moreton Bay region had become apparent more recently.
“We noticed a dip in the interstaters for a while but recently they’ve started to come back and it’s about affordability. All the properties around that median price are really moving so quickly,” he said.
Domain Group figures show the median house price in Moreton Bay is $456,000.
“There’s a lot of first-home buyers who fly up here for the weekend from Sydney. They know they can’t afford to buy there so they’re moving here because they see you can buy a house for under $500,000, get the lifestyle and still only have to drive 40 minutes to work in Brisbane,” Mr Campbell said.
But Mr Pressley said interstate migrants were being “pushed” to Queensland, rather “pulled” as they were during the mining boom.
“People have always wanted to come to Queensland because of the good lifestyle, weather and affordable housing,” he said.
“In the past they came for those things but also because we created more jobs year after year than everyone else. Now, we’re not dragging here through job growth, they’re coming here by default.
“To me, that’s why interstate migration hasn’t translated into property prices yet … and that’s why only minimal people have gone to Brisbane.
“I anticipate that in the next 12 months we’re going to see another really strong year of interstate migration into Queensland; if our economy improves, then it could translate to property prices for Brisbane and all over Queensland. Overall though, this is a good news story for Queensland and Brisbane as well. It’s looking positive.”
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