Brisbane enjoyed another strong month over the market, with another good showing at auctions across the city. There are also some golden opportunities that smart buyers can take advantage of right now, with some suburbs quickly attracting increased attention from investors and owner occupiers alike looking for affordable property.
Clearance rates for Brisbane again performed strongly, particularly in the first weeks of August.
Given the clutches of winter were still holding tight, the 54% (3rd September), 64% (10th September), and 70% (17th of September) are even more impressive. And despite a slight dip over the weekend of the 24th of September, the clearance rates bounced back to finish the market strongly, reaching 54%.
Watching the market over the last month, National Property Buyers Queensland State Manager, Stephen McGee is seeing an excellent opportunity in two key suburbs: Wynnum and Aspley.
The bay side suburb of Wynnum has been growing steadily in median price as buyers look further out of the CBD for good value property in desirable areas. According to Your Property Investment suburb profile the suburb had a median price of $525,000 this time last year, and has climbed to $605,000.
The opening of Legacy Way has allowed the northern suburbs greater access to the west and Aspley is reaping the benefits. With easier access to the Airport, DFO, Royal Brisbane Hospital, shopping, and the RNA showgrounds, Aspley has proven especially fruitful for investors with a rental return of 4.31%+.
For Stephen McGee, these suburbs are no longer suburbs to keep an eye on. They are suburbs ready for buyers to take advantage of right now before prices increase further or competition becomes more intense.
August Auction Snapshot
Top Performing Suburbs in Brisbane
|
Fastest Growing Suburbs in Brisbane – House |
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|
Rank # |
Suburb |
Median Price $$ |
Trend + % |
|
1 |
Hamilton |
$1,128,000 |
+30% |
|
2 |
Yamanto |
$415,000 |
+24% |
|
3 |
East Brisbane |
$764,000 |
+19% |
|
4 |
Corinda |
$648,000 |
+19% |
|
5 |
Hawthorne |
$1,078,000 |
+19% |
|
Fastest Growing Suburbs in Brisbane – Unit |
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|
Rank # |
Suburb |
Median Price $$ |
Trend + % |
|
1 |
Kedron |
$430,000 |
+18% |
|
2 |
Alderley |
$456,000 |
+15% |
|
3 |
Windsor |
$460,000 |
+12% |
|
4 |
Beenleigh |
$193,000 |
+10% |
|
5 |
Moorooka |
$415,000 |
+10% |