In real estate we generally try not to use over-confident terms like “sure thing” or “no brainer”, but with the way Brisbane’s inner suburbs are currently performing, we’re more than a little tempted to break this rule.
Whether you’re thinking of buying a property to rent out or live in, here’s one piece of advice we urge you to follow: look in the inner suburbs.
While Logan, Ipswich and other outer areas were the star performers last year, 2015 is set to be the year of the inner-suburb house, townhouse or unit, according to experts.
Some of the suburbs to watch in the near future, based on recent profit figures and our own data, include
- Everton Park
- Ferny Grove
- Gordon Park
- Red Hill
The question is: if these inner suburbs have already jumped in price, doesn’t that mean they’re less affordable? Doesn’t that mean I should look further afield for a better deal?
In a word, no. While these areas have on average made the most amount of money per sale (with Woolloongabba leading with well over $400,000 in profit per sale), this doesn’t mean they’ve finished appreciating in value, and it doesn’t mean there aren’t any affordable options.
Like anything, finding a good investment opportunity or family home in these suburbs will be a case-by-case thing – however, as long as you do your research and act quickly, you’ll be in a good position to make a pretty tidy profit in a relatively short time.
Why are these suburbs performing so well? It’s the usual things: proximity to the city, good transport options, planned or existing upgrades to infrastructure and public services, good schools, good lifestyle and entertainment options, and so on.
If you’re interesting in buying in the CBD itself, there’s currently a decent selection of high-rise apartments available due to the recent explosion of new developments, however for the biggest returns we still recommend the inner suburbs.
Current growth levels combined with low interest rates are making for a pretty attractive environment for buyers and sellers alike, so if you’ve been thinking about a purchase, now is the time.
Want to get started right away? Give Madeleine or the team a call on (07) 3355 6845 or see our listings page to find out what opportunities we have available.