Gaythorne – A suburb on the move

Gaythorne_Railway_Station

House prices rise 26.6%

Home values in Gaythorne increased by more than any other suburb within the North-West region in the past 12 months, with the suburb now recording a solid median house price of $785,000.

New figures from Core-Logic reveal the median house price jumped 26.6 percent in the 12 months to the end of February, and 16.2 percent during the past quarter.

Eatons Hill also recorded strong median house price growth in the past 12 months, up 10 percent to $616,000. Other strong performers were Alderley, where the median house price increased 9.6 percent to $789,000 Keperra, up 8.9 percent to $520,000 and Enoggera, up 8.3 percent to $682,500.

In the three months to the end of February, Keperra median house prices rose 16.2 percent to $785,000, followed by Ferny Grove, up 2.4 percent to $563,000, Upper Kedron (+2.1 percent, to $625,000) and Arana Hills (+1.9 percent to $530,000).

A Real estate saleswoman said convenient locations and the number of older timber houses with potential to be converted into four or five-bedroom properties were a big drawcard for both Gaythorne and Keperra. " The younger ones are loving the timber homes.

The unit market within the area did not fare as strongly in the past year, with median unit prices increasing in only three suburbs during the period.

Ferny Grove had the strongest result, with its median unit price up by 14.3 percent during the quarter, and 11.9 percent for the year $403,000.

Enoggera's median unit price increased by 2.4 percent in the past 12 months to $407,500, and Mitchelton's median unit price was up by 2.1 percent for the year to $439,000.

 

Source: Quest News

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