A new report by Domain Group has found that Brisbane houses are currently averaging 63 days on the market before selling, but those suburbs in the highest demand see houses taking little more than a couple of weeks to sell. These include the northern suburbs of Chermside West and Nudgee, where young families are today’s average buyers. The housing stock is tight, and properties are selling quickly. In the south, Mackenzie is the fastest selling suburb, though Holland Park, Wishart, and MacGregor are all experiencing selling times of less than three weeks.

A common thread that connects the popularity of all these suburbs is that of good education establishments within their catchment areas and good retail facilities nearby. Another draw for homebuyers and renters alike is the excellent transport links into the CBD, with infrastructure already in place.

Closer to the centre of the city, Bulimba is being tipped as one of Brisbane’s hotspots for the coming years. Here, shipyards are being gentrified and transformed into exclusive riverside properties that are likely to rival those in the upmarket New Farm and Hawthorne.

Bulimba’s median house price has grown by more than 50% over the last five years. This growth is expected to spill over to the rest of the suburb, with values rippling out as urban regeneration projects (such as the planned transformation of Bulimba Barracks into a mixed residential and open space) further positively impact the area.

Chermside West (4032)

The median house price has increased by 0.68% over the last year, to $ 521,000. Average weekly rental is $ 443, giving investors a gross yield of 4.42%.

[el]554[/el]

Wishart (4122)

Average weekly rent for a house here is $ 490, yielding the landlord 3.81% on the median house price of $ 669,500 that is 3.81% higher than this time last year.

Average unit rental is $ 400 per week. At the median price of $ 390,000 (an increase of 2.90% over the price 12 months ago), investors will make a gross rental yield of 5.33%.

[el]536[/el]

Bulimba (4171)

The average house rental is $ 650 per week, at which price an investor would receive a gross rental yield of 2.78% based upon the current median price of $ 1,215,000 (which has increased by 14.62% over the last year).

The median unit price is $ 614,000, up by 2.50% over the last 52 weeks. With rent averaging $ 495per week, investors see a yield of 4.19%.

[el]400[/el]

(Data from CoreLogic RP Data)

Permanent Link
Property Management Brisbane