IF YOU’RE feeling shut out of the local property market it might be time for a little drive. Affordable housing isn’t as far away as you think.
About 9km south of the Brisbane CBD we’ve found a ring of affordability.
It’s where cottages and Queenslanders, sitting on generous-sized blocks, sold for a median house price of $540,000 and units changed hands for $397,000 in 2016.
Salisbury, which is sandwiched between Tarragindi, Archerfield, Coopers Plains and Moorooka, offers home prices that are still achievable for many buyers, but for how long it stays that way is another question.
Mark Ward Property principal Mark Ward said the majority of properties which sold last year were snapped up by first home buyers but with the median price heading north, the window of opportunity is beginning to tighten.
“There are investors coming into the area but predominantly 80 per cent of the people who are buying in Salisbury are first home buyers,” Mr Ward told The Courier-Mail.
“It sure is one of the prime (south of the CBD) suburbs for first home buyers who are working in the city.
“They want to be close to the city and they have looked at Tarragindi and Holland Park but value for money Salisbury is a $100,000 less than those suburbs.”
Mr Ward has been selling houses in the area for more than decade and he said the bargains are drying up and it won’t be long before Salisbury, which is home to some 6100 residents, is out of reach of those trying to break into the market.
“Salisbury has been a prime target for first home buyers but soon they may start looking further out because the prices have started to creep up.”
The influx of young couples and families has been very noticeable for Apples On Ainsworth owner Miguel Mungarrieta.
Now in his sixth year of running the popular café, Mr Mungarrieta has had to re-align his business of late to accommodate for more mums, dads and children coming into the area.
He started opening the café in the evening and had even placed tacos and quesadillas on the menu to cater for children.
“We used to have an older clientele and a lot of retirees and they used to come across from the bowls club at least twice a week,” Mr Mungarrieta said.
“We have had families started to move in and that’s why we have started to open at night because they want somewhere to go locally at night.”
He said the Ainsworth St shopping strip, one of a few in the suburb, was popular because parking was easy to find.
The series of outlets includes a bakery, a second-hand book store, a post office and a nails and waxing boutique.
“They are friendly people around here and they accept us – we are from Venezuela and we speak Spanish and they like that,” he said.
“It’s very easy to park around this area and that’s why people come here very often and there is a park across the road.”
Mr Mungarrietta said the sports and bowls club on Ainsworth St had been earmarked for a retirement village, which he said would bring in even more business for shop owners.
Besides Apples On Ainsworth, there are at least another half dozen places around Salisbury’s side streets to grab a coffee, including Hedge Espresso in Lillian Ave and Reload Espresso on Chrome St.
The small and family businesses are able to survive partly because of the lack of major shopping centres within the locale, said Mr Ward.
He pointed out that the nearest Coles and Woolworths was a few kilometres away and Aldi was the only major supermarket chain to land a store in the neighbourhood.
Families were also drawn to the area because Salisbury bordered Nathan and Toohey forests and there are a handful of decent-sized parks and playgrounds scattered through the streets.
“There’s lots of greenspace and a lot of walk and cycle ways through Toohey Forest and that’s a big plus,” he said.
“Besides the forest you have four different parks, two playgrounds and a dog park.”
The suburb also is home to Brisbane Christian College, Salisbury State School and St Pius X Catholic Primary School, while neighbouring Nathan has a Griffith University campus.
Originally Published: http://www.couriermail.com.au