After roughly a year of home prices steadily dropping in cities around the country, analysts are starting to predict a ‘bottoming out’ of the housing market, meaning home prices may soon be on the rise once again.
In the past year, ABS statistics show that Brisbane’s residential property market has seen a drop of 1.3%, so it could be time for those interested in property investment to consider making a purchase in Queensland’s capital.
The first step is to conduct extensive property research into attractive suburbs, so here are some of the top areas to consider purchasing an investment property in Brisbane.
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Investment property in Chermside
Roughly 10 kilometres north of the Brisbane city centre, Chermside is close enough for commuters to the CBD, but also offers its own attractions.
Chermside is home to the largest shopping centre in Queensland, and the Northern Transit project will soon connect Kedron to Chermside for easy transport across northern Brisbane.
Additionally, Chermside’s population is set to rise quickly over the next 30 years, doubling in size from 2017 to 2037, according to OpenCorp director Allister Lewison.
Median unit price: $384,085 Median house price: $587,500
Investment property in East Brisbane
A stone’s throw from the CBD, East Brisbane is in a handy location right next to the river and the Gabba.
There are a number of bus routes as well as the option of taking the CityCat for commuting, and the suburb has seen a compound growth rate of 4.2% for houses over the past five years of sales.
Median unit price: $370,000 Median house price: $845,000
Investment property in Everton Park
Everton Park is a family-friendly suburb roughly 25 minutes north of the city centre.
Properties in Everton Park are largely skewed towards homes, with houses comprising of 81% of all dwellings in the suburb. This suburban lifestyle includes plenty of local cafes, parks, and a range of schools, making it ideal for young families looking to rent or buy.
Median unit price: $382,500 Median house price: $600,000
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Investment property in Toowong
Toowong offers the best of both worlds, with a central shopping centre and attractive wining and dining scene, as well as a leafy suburban side that feels far removed from the hustle and bustle of the city.
It’s just 15 minutes from Brisbane CBD, and it is a hub for young adults, with a median age of 29 (which is eight years below the national average). This suburb also sits next to the Brisbane River, and includes a train station and extensive bus network.
Median unit price: $429,500 Median house price: $872,500
Property investment for beginners can be tough, but by learning about trends and prices in various suburbs, you will quickly get a feel for the local markets.