The Outlook for the Brisbane Real Estate Market in 2017

January 19, 2017 By

House prices were projected to grow across Brisbane in 2017 but several areas will outperform the rest.

Domain Group chief economist Andrew Wilson picked the following nine suburbs where buyers could expect strong returns on investment and vendors could expect strong interest in their properties.

The suburbs were picked because of strong growth over the past few years, high sales, and high demand.

Prestige suburbs: Hawthorne, Highgate Hill, Kelvin Grove.

Dr Wilson said of the three, Hawthorne was his top pick for Brisbane’s high end market.

“It’s almost a no brainer,” he said. “The name itself helps keep it in the prestige property market.”

Buyers pick the blue-chip suburb for the proximity to the Brisbane River, CBD, schools, and entertainment precincts, Dr Wilson said.

Ray White Bulimba principal Roger Carr agreed Hawthorne was one of Brisbane’s premier suburbs. “Hawthorne leads the way,” he said. “It’s like Ascot on the south side.”

The barrier to entry to the suburb is high with a median house price of $1.2 million. Mr Carr said its exclusivity was another selling point.

“It’s got the highest median price south of the river and that reflects on people’s taste and what they’d like to pay to live in an area like that,” he said.

Premium suburbs: Sinnamon Park, Toowong, Burpengary East.

Toowong would be the best performing suburb in the premium price band this year, Dr Wilson predicted.

The area’s biggest selling points were good infrastructure and proximity to popular schools and the University of Queensland, he said.

“It’s a good opportunity in the middle price range although the price is pushing up past median,” said Dr Wilson. “You have buyers aspiring to live in that area.”

Professionals Toowong agent Vern Gilbert said Toowong prices had grown steadily in more than a decade, with very few fluctuations. “Toowong’s grown ever since I started in real estate,” he said. “Even in the [2008] downturn it held very well in comparison to other suburbs because of the infrastructure.”

Mr Gilbert said Toowong was remarkably affordable for a suburb so close to the CBD, compared to other capital cities.

Affordable suburbs: Keperra, Heritage Park, Redcliffe.

Dr Wilson picked Redcliffe as a growth area for the second year in a row; he said the beachside town had potential to attract more residents as developers continue to invest in the surrounding area.

“It’s an established area, Redcliffe,” Dr Wilson said. “It’s not looked on as an outpost as it may have been previously.”

Jan Jones Realty owner Jan Jones said Redcliffe was a safe investment for families and retirees.

“We’re a bayside location and we’re offering a lifestyle, ” she said. “We also have great schools whether they’re public or private.”

The Redcliffe peninsula would grow in 2017 but prices were not likely to shoot up because of the newly constructed rail link, Mrs Jones said.

Credit: Pick of the bunch: where to buy and sell in Brisbane for 2017