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Brisbane’s most in-demand commuter suburbs

How much would you pay for a house within 20kms of the city?  Brisbane’s most in-demand commuter suburbs range in median price from $730,000 – $2,105,000, new data reveals.

Gordon Park is our region’s most in-demand commuter suburb with 1,761 visits per property on realestate.com.au/buy for the six months to 31 May 2017. Located just 5 km from Brisbane’s CBD and with great schools nearby, it’s easy to see why buyers favour this northern suburb. That demand has resulted in a median house price of $797,000.

Nearby Alderley is the second most in-demand commuter suburb in our region with 1,358 visits per property on realestate.com.au/buy. The inner northern suburb offers buyers a great lifestyle with a comparatively affordable median house price of $720,000.

At number three on the list is Stafford Heights which is only 8kms from the CBD and it received 1,286 visits per property on realestate.com.au/buy over the same period.

The visits per property come from REA internal data and the median price data is from CoreLogic for the 12 months to 31 May 2017.

Commuter suburbs are defined as areas located between 10-25km of a CBD.

The top ten most in-demand commuter suburbs are all big on lifestyle, according to REA Group Economist Nerida Consibee.

Village Buzz in demand suburbs

” … these are high demand areas and there are far more people looking than listing – that’s a consideration. They are more expensive for that reason. It shows the suburbs where people want to live and all that demand is really pushing up prices,” she says.

Low-interest rates also affect demand and prices in these areas as buyers opt to purchase at the top end of the budgets.

“With debt being so cheap, people are prepared to take on bigger loans. That’s what the Reserve Bank is worried about, people wanting to get the best home that they can afford and at the moment they can borrow quite a lot to get that,” she says.

Most of the suburbs that made the list are near the bus or rail lines, meaning that transport is driving demand to commuter ‘burbs.

“Schooling is also a factor,” Consibee says with many of the areas in the top ten located in or near to the catchment zones for high-performing high schools.

Development opportunities in these areas are something investors and savvy buyers may also want to consider as many of these suburbs have larger blocks and could be subdivided if the local council allows it.

“Certainly there are townhouses, but not a lot of apartments so this suggests that this is something that could be considered because they are very popular and they are quite expensive areas,” she says.

Source: Realestate.com.au

New Alderley is really coming of age.

alderley-real-estate-madeleine-hicks

Alderley was once the forgotten neighbour to well-known Newmarket, but not anymore.

This ideally situated suburb, only seven kilometres northwest from the CBD and encompassing 2.4sq km area, is coming of age with millions of dollars being poured into its streetscaping and upgrading of its long established train station, as well as a new Coles development boosting local business confidence.

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A local real estate agent, said until recently, most people had no idea where Alderley was, but were aware of neighbouring suburb Newmarket.

“But in the last 12 months Alderley has arrived on people’s radar and it’s getting to the stage where a $650,000 house on a 405sqm block is entry level, and then the buyers are knocking it down and rebuilding,”

village-buzz-alderley-real-estate

“But there is something for everyone here from one bedroom units in boutique complexes, through to multi-million dollar houses, and because our suburb isn’t zoned for large developments we’re finding that unit and townhouse complexes are selling very well.”

Alderley’s big draw card is its direct access to Kedron Brook Bikeway, offering 40km of cycling tracks perfect for the exercise enthusiast and Grinstead Park giving families a great place to play and picnic.

It’s a very dog friendly, family friendly area.

The suburb itself has been under rejuvenation with $5.3 million recently spent on upgrade and beautification works, a major train station accessibility upgrade on its way and a Coles development site set to boost local business.

Confidence in the area was definitely improving with small businesses starting to move into the area such as boutique bar, The Ploughman Inn and local coffee shops.

Named after a well-to-do suburb in Manchester, England, it looks like Alderley is now well on its way to following in the footsteps of its namesake.

 

Thanks to Belinda Chilton, Real Estate Reporter, The Courier-Mail

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What $600,000 will buy in the Everton Park Region

what can $600,000 buy in Everton Park region

Recently the Treasurer Scott Morrison has been calling on state and territory governments to do more to stop house prices ballooning.

The amount households are borrowing from the bank is getting more disproportionate to their pay packet.

In Brisbane

The median weekly income per household in Brisbane is $1,388.

The average house price in Queensland’s capital was $497,000 in June 2016. This was 4.3% higher than the year before.

Prices haven’t risen in Brisbane as steeply as in Sydney and Melbourne, as the average price tag for a home was only $325,000 10 years ago.

So what can $600,000, get you in the Everton Park region.

McDowall

mcdowall-real-estate-what-600k-buys

7 Marx Street Mcdowall, QLD, 4053

This 3 bedroom, 2 Bathroom and 2 car garage, property on 587 m2, sold recently for $610,000.

Stafford Heights

stafford-heights-real-estate-what-600k-buys

22 Mumbil Street Stafford Heights, QLD, 4053

4 bedrooms, 2 bath, 2 car on 650m2 sold for $600,000

This is a very spacious family home that has been well looked after.

Stafford

stafford-real-estate-what-600k-buys

18 Karbala Street Stafford, QLD, 4053

3 bedroom, 1 bath, 1 car accomodation, on 610m2  sold for $607,000

This is currently a rental property returning a great yield.  The property is suitable for further development and has city views.

Everton Park

everton-park-real-estate-what-600k-buys

4 Ballinderry Street Everton Park, QLD, 4053

4 Bedrooms, 2 bathrooms, 2 car garage on 600m2 and sold for $607,000

A quality home that has been recently renovated with plenty of outdoor entertaining spaces.

Alderley

alderley-real-estate-what-600k-buys197 Raymont Road Alderley, QLD, 4051

3 Bedrooms, 1 bath 1 car accomodation on 375m2, sold for $585,000

This typical Queenslander located close to the city, has all of the charm of yesteryear.

Arana Hills

arana-hills-real-estate-what-600k-buys

83 Minto Crescent Arana Hills, QLD, 4054

This 4 Bedroom, 2 Bath, 2 Car Garage property on 658 m2 sold for $597,500

It was described as a luxuriously renovated ultra modern home with all of the creature comforts needed to relax.

Whilst $600,000 might not be a first home for many, it is clear that you can buy a whole lot of house in fantastic locations in the inner North West.