Buying a new home is one of the biggest decisions, especially for first-time home buyers. Proper market research is required to find the most suitable location for your residential property in Brisbane.
Brisbane is indeed the most developed capital cities in Australia. From high-rise buildings to new-age infrastructure developments, residential housing options to booming commercial markets, it keeps on unveiling everything with each passing year.
Early in 2020, AMP’s Chief Economist Shane Oliver said that housing prices across Australia could collapse by 20% and 5 to 7 percent drops in Brisbane could be witnessed in the short term. However, the scenarios have changed, and now in 2021 property investors and predictors are saying that it Brisbane prices are expected to jump by 9.5 per cent.
So, if you are planning to buy a home in Brisbane this year, have a look at the following hotspots and make the most out of your investment.
1. Camp Hill
Located just 6km from Brisbane CBD, Camp Hill tends to be one of the most promising suburbs. The median house price for 3 bedroom house is $800,000 and average rent is $448 per week. It has witnessed a consistent growth by 4.1 per cent in the last five years.
This place is ideal for families with kids because it has some of the world-renowned schools within the close proximity of a residential area. Apart from this, you can explore high-end amenities, such as top-class restaurants, cafes, busy shopping streets, medical facilities, boutiques and much more.
2. Redland Bay
Though Redland Bay is quite far from the Central Business District, you can discover some of the best residential properties with high-class local amenities. This suburb is located in bayside area of Brisbane and boasts of a metropolitan city’s vibe. The median house price in this particular suburb is $570,000 which is quite affordable as compared to other suburbs.
This place has become of the residential hotspots in Brisbane- thanks to spacious homes, expansive parks, schools and a local shopping centre.
3. Toowong
Buying a home is always a challenging task. You need to make the right decision depending on your preferences, specific needs and estimated budget. What is more challenging is finding the apt location where you can find all the amenities, transportation facilities and of course, entertainment hubs.
Toowong is one of those suburbs which has everything from top-rated schools to beautiful abodes, strong commercial market to shopping centres, etc. It simply blends city’s convenience with a peaceful and chilling vibe. If you are looking to invest in Brisbane Property Market in 2021, look no further than Toowong.
The median price of a house is $939,000- which is quite expensive. If you are looking for a rental property, then the average rent is $570 per week. Make sure you do thorough research about the market and
avoid common mistakes while investing in a residential property.
4. Rochedale South
Rochedale South is quite a perfect suburb for families and young couples. This is one of the best hotspots when it comes to buying a residential property in 2021. The suburbs is best known for its modern age playgrounds, spacious green parks, top-class schools, restaurants, cafes, local shopping streets and much more.
The average price of a house is $540,500 which makes it an ideal place for those who don’t have a huge financial support. You can also live in a rental property because the median rent is $450 per week –which won’t take a lot of toll in your pocket.
5. Manly
Believe it or not, Manly has witnessed an average of 14 percent rise in home prices in the last three years. It all happens because of the breath-taking coastal bayside location, a range of plush houses, high-rise apartments and the largest boat harbour facility. If you want to live in a great location in Brisbane, buy a residential property in Manly. The median house price is $966,000 and rent is $540 per week.
If you are looking for a future-oriented property investment options, then this place is ideal for you. Make sure you explore the
useful tips for young property investors before getting into any deal.
Conclusion
These are top residential hotspots in Brisbane in 2021. All these suburbs are well-developed and offer great amenities, including schools, hospitals, restaurants, and entertainment hubs. You can also explore the
residential rental market in Brisbane if you are looking for a rental property in the capital city of Queensland.
