Brisbane’s real estate market is preparing to witness a positive period ahead, according to reports. There are literally no suburbs present within a radius of 50 kilometres of the CBD in Sydney with average house prices lower than $500,000. If one goes to Queensland, the situation is slightly different. In Brisbane, there are a total of 17 suburbs covered under the Brisbane City Council zone and average house prices are lower than $500,000. Most of these suburbs are located within just 9-10 kilometres of the CBD and this is one of the reasons behind renewed investor and buyer interest in Brisbane real estate.
If areas like Moreton Bay, Logan and Ipswich are taken into account along with other Greater Brisbane council zones, the potential of the market is literally huge. North Brisbane offers several affordable housing options along with access to decent social infrastructure. Boondall is a coveted location at present since it has the Brisbane Entertainment Centre and the well known St Joseph Nudgee College. It is also located near the Australian Catholic University and the Virginia Golf Club along with the airport. Bracken Ridge has average home prices lower than $495,000 and is not even 20 kilometres away from the CBD.
These are areas which are witnessing strong growth in recent times. The suburb will also benefit from the $140 million transportation upgrade of the state government and this will lower commuting time by at least 10 minutes. Bracken Ridge has several homes in the older style and the blocks are larger. Interstate migration has also increased as per studies with several people moving to Brisbane and the price gap widening between Brisbane and Sydney.
Brisbane is poised to witness even better times ahead since affordability is the key aspect for property buyers, irrespective of overall income. Affordability is something that will propel Brisbane’s realty market towards greater heights in the future. Brisbane is now considered as one of the hottest real estate markets in Australia and several prime projects are coming up here like Aspley Townhouse. Brisbane offers ample employment, infrastructural progress and relative affordability.
