Overall Housing Market Growth
Experts predict percent increases in the double digits in Brisbane. Despite the effect of COVID-19 on the market, property values in Brisbane increased 18.3% over the past year. Increased demand for specific Brisbane lifestyles and the suburbs’ detached homes—along with several other factors—has contributed to this booming market.
To make matters even better, the Brisbane market is currently far more affordable than cities like Sydney or Melbourne. Prices are lower and growth is happening faster, making Brisbane a very wise choice for potential investors.
This growth is expected to continue into 2022, so it’s a good idea to get into the market now before prices really begin to increase.
Increasing Demand for Jobs
The housing market is not the only one growing in Brisbane. As the economy recovers from the pandemic, companies are hiring once again. While this is true across Australia, Brisbane is seeing a particularly big spike in demand.
With numerous infrastructure projects in the works, Brisbane’s economy is projected to experience significant growth. This influx of money into consumers’ hands will mean more people looking to purchase their first home or upgrade into a larger space. This demand will only further increase the prices over the year’s course.
Brisbane West offers a beautiful selection of suburbs for anyone looking to live or invest in real estate. Each suburb has beautiful qualities and numerous advantages, so let’s take a look at what they have to offer.
Chelmer offers large interwar Queenslander houses and the prestigious Laurel Avenue. Along with a leafy atmosphere and riverside breezes. Only seven kilometres from the CBD, Chelmer is conveniently located for shopping and entertainment.
With numerous parks and sports fields, and Milpera State High School, Chelmer is a fantastic place to raise a family.
Famously perfect for family living, Graceville boasts a friendly, laid-back attitude. The suburb also lays claim to some of the best schools in the state. These top-performing schools are a big draw for new and established families alike. Along with the suburb’s parks and scenery, it’s no wonder many call Graceville the best family suburb in the Brisbane area.
Moreover, with numerous cafes and one of the most frequent train lines in the greater Brisbane area, there’s no shortage of entertainment for the parents in this lovely suburb.
As one of Brisbane’s oldest and most picturesque suburbs, Sherwood is a wonderful place to live. It’s just over eight kilometers from the CBD, and benefits from easy access to neighbouring suburb’s shopping districts.
Sherwood also boasts its own commercial centre, with thriving supermarkets and small businesses. This high-density area offers many unit and townhouse complexes, while further neighbourhoods offer larger, historic homes.
The crown jewel of Sherwood, however, is its vast and beautiful arboretum. With over sixteen hectares of parklands, two playgrounds, multiple BBQ’s, and a gorgeous rainforest walk along the river, the arboretum is a beautiful place to spend an afternoon.
4) Indooroopilly, St Lucia, and Taringa
In these inner sections of Brisbane’s western districts, you’re likely to find greenery and wildlife in spades. The shady trees play home to parakeets, cockatoos, and all sorts of wildlife. These suburbs are perfect for those who enjoy picnics and strolls under the trees.
Indooroopilly, in particular, features many appealing amenities. With green yards and old-style Queenslander houses, many homes are sturdy and appealing to those with an eye for aesthetics. Moreover, the area boasts the Indooroopilly Shopping Center, robust public transport, and proximity to Queensland University of Technology and the University of Queensland.
This makes the area a diverse, multi-generational community with plenty of restaurants, cafes, and other amenities.
5) Chapel Hill, Fig Tree Pocket, Kenmore, and Kenmore Hills
Some of the more affluent western suburbs, these four districts offer a lot for potential homeowners and investors. As a traditional family area, these districts offer easy access to several convenient roadways. Moreover, lying between Mt Coot-tha and the Brisbane River, there’s no shortage of nice scenery.
6) Bellbowrie and Moggill
These lovely districts offer homes with stunning acreage and locations along the Brisbane River. As a central hub for surrounding rural areas, Bellbowrie offers several shopping areas, parks, and sporting facilities.
7) Anstead, Brookfield, Pinjarra Hills, and Pullenvale
With rural-residential properties and wide-open spaces, these areas are perfect for anyone looking for a slower-paced lifestyle. Bordering the Brisbane River, there’s no shortage of impressive homesteads. There’s easy access to facilities in nearby residential areas like Bellbowrie and Kenmore.
With each of these suburbs offering a unique array of advantages, you can enjoy a diverse real estate profile within Brisbane West. They’re also still close enough to Brisbane’s CBD that residents can still enjoy its lifestyle amenities.
Speaking of lifestyle amenities, Brisbane has no shortage of them. As younger homebuyers trend towards convenience—preferring city homes close to restaurants, parks, museums, and other amenities—Brisbane is set to become a popular choice for the next generation.
Moreover, tourism projects such as the Queens Wharf Precinct will attract a whole new industry of international and domestic travellers. This revitalised tourism industry will lead to far more jobs and feed into the already-growing economy.
One of Brisbane’s most underrated advantages is the centralised City Council. While other major city governments consist of multiple councils, Brisbane has only one. This means the governmental and bureaucratic processes are far more streamlined.
This has helped Brisbane pull far ahead of other Australian cities in terms of infrastructure, development, and other appealing aspects. This gives investors security in both the infrastructure projects already taking place and a virtual guarantee of infrastructure improvements to come.
The streamlined government also helped Brisbane recover from the pandemic. Brisbane was able to quickly and efficiently launch an economic recovery task force to address and relieve the impact of the coronavirus on the community and economy.
Potential Rental Profit
If you’re a landlord or interested in becoming one, investing in Brisbane’s market might be a good choice. Not only are home prices growing, but so are rent prices. This presents a great and profitable option for anyone looking to make a purchase without making a move.
While you wait for your property’s value to increase, you can rent the home to those who aren’t ready to purchase their own home. This way, you can offset the cost of your purchase or even profit before selling the home. Whether you manage the home in your own right or go through a property management company, this can greatly increase the worth of your investment.
While the greater Brisbane area’s population is still smaller than the other Australian capitals, it’s set to increase rapidly within the next few decades. This means the demand for housing will increase with the growth.
While properties are relatively cheap now, the prices are set to increase with this growing demand, especially with Brisbane’s enviable climate and comparatively low property costs.
With all these reasons to invest in Brisbane West, you’re in great shape if you need an investment property. If you’ve made up your mind to purchase a property in this lovely Australian city, then we at Hauss are happy to help. Whether you’re looking for someone to help you find your perfect investment property or manage a rental you already own, we’re ready to put our years of experience to use for you. Feel free to reach out to our expert team today!