Brisbane Northside, Metropolitan Brisbane
The Brisbane market currently has two standout precincts: Brisbane Northside and Moreton Bay Region, which means the market is strongest north of the Brisbane River. More than half the rising suburbs in the Greater Brisbane area are in these two northside precincts.
Double-digit growth has been recorded in several suburbs in Brisbane Northside over the last 12 months and there is firm evidence that the unit glut – the result of high levels of construction activity from 2014 to 2017 – is being absorbed. Vacancies have been falling steadily for two years.
Brisbane Northside can expect to benefit from several large commercial, medical and residential developments that are now under way – for example, the $1.1 billion Herston Quarter venture and the $1.2 billion Racecourse Village project.
Transport infrastructure in Brisbane Northside has been enhanced by major upgrades in recent years, improving connectivity to the CBD, western suburbs and the airport, thus reducing commuting time for workers.
With several suburbs offering unit prices in the $300,000s, especially ones where there are a high percentage of renters - there are opportunities for investors to buy affordably and achieve good rental returns.
Investors, however, need to check vacancy rates, which are still above the benchmark of 3% in some of the locations with major apartment markets.
This report covers the suburbs of Albion, Alderley, Boondall, Enoggera, Everton Hills, Everton Park, Gaythorne, Gordon Park, Grange, Kedron, Kelvin Grove, Keperra, Lutwyche, Mitchelton, Nundah, Stafford, Stafford Heights, Wilston and Windsor.