The two hottest suburbs in Brisbane next year are located about seven to eight kilometres from the CBD.
The hottest suburbs in Brisbane have been revealed, and surprise contenders have beaten bluechips to take out the top three spots where prices were expected to fire up in 2019.
All up the Price Predictor Index, which tracks rising sales in suburbs across the country as a precursor to strong price growth the following year, found 29 suburbs in Brisbane were “rising steadily” but three in particular were standouts.
Leafy Graceville was now hottest suburb in the Queensland capital, according to the index, with its rising sales and potential also pushing it into the national top 50 hottest suburbs in the country. Almost eight years ago the suburb had been among those hard hit by the Brisbane 2011 flood.
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A sign put up by residents of Strong Avenue in Graceville during the 2011 flood clean-up. The suburb is now tipped to be the hottest in Brisbane in 2019.
A file photo of Graceville Railway Station. Picture: Philip Norrish.
Only two other Brisbane suburbs made the elite national list — Indooroopilly, a mere kilometre from Graceville, and Kippa-Ring, 27km north of the CBD.
Index lead analyst Terry Ryder of Hotspotting said “where demand is rising, prices tend to follow”.
Kippa-Ring’s surge, he said, was influenced by the new rail line to the Redcliffe Peninsula, whereas Graceville and Indooroopilly were both “top-end” suburbs with median prices above $900,000 and close to strong drivers like schools and universities, restaurants and parks.
He said a turnaround occurred with tier one suburbs above $1m medians first seeing strong growth — such as Hamilton, Paddington and Bulimba recording double-digit growth in the past year — “then the rest of the market follows.”
“I do expect Brisbane in the coming year to be stronger than it has been (overall),” Mr Ryder said.
Darren Piper of Universal Buyers Agents said they were already “seeing the first signs of a turn around in the apartment market and property buyers should take notice”.
“After so much doom and gloom we’re already seeing a huge uplift in the amount of enquiries we receive for Brisbane.”
October was one of his biggest months on record, he said, with “a lot of buyers attracted by the lifestyle, great schools, weather and prices of course” in Brisbane.
Colin and Joni Armbruster with kids Sophia and Amelia. Picture: Annette Dew.
Parks are a key attraction in Graceville, this being a file photo of the grandstand at Western Districts Cricket Club in the suburb. Picture: Richard Walker.
Place Graceville lead agent Brad Robson said “demand has consistently outstripped supply” in the hottest suburb on the index — Graceville.
“In very recent times, we have seen a small spike in the numbers of homes that have come to the market and I put this to the Spring Selling Season. Given the huge demand for the suburb, buyers have simply snapped them up, creating an increase in the amount of sales within the area.”
He said the suburb was just 7km from the CBD with “a country town feel”.
“I believe that 2019 will be more sustainable price growth for the suburb as demand will remain high and supply will remain low.”
New resident Joni Armbruster had no idea just how popular the suburb was when her family bought into it this September.
“It’s a fantastic area, it doesn’t surprise me at all,” she said. “It has great schools, close to the city, a neighbourhood feel, close to public transportation, lots of local restaurants and cafes that you can walk to. Also a lot of parks and open green spaces.”
Her family expect to remain in the suburb for at least the next decade.
“The schools are fantastic, public and private, so you have great options either way. We just love the area.”
BRISBANE’S HOTTEST SUBURBS:
(Also in the national top 50)
(Source: The Price Predictor Index)
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