Brisbane’s “worst” suburbs sell like hotcakes

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Brisbane suburbs like Chermside, Inala, Chermside West, Ferny Hills, and Banyo were once considered to have rough reputations. But it does not matter now, as Domain Group data shows that houses located in these suburbs sold the fastest in the city over the June quarter.

Among these suburbs, the most surprising was Inala, listed as one of the worst suburbs for house theft in 2016. It was also recently approached by SBS to film the city’s own version of the TV show ‘Struggle Street.’ However, its houses still sold second fastest in Brisbane, with an average of 25 days on the market. Chermside came first, with houses spending an average of 24 days on the market.

“There have been big changes in Brisbane’s market that have moved down to the low priced areas,” said Andrew Wilson, chief economist of Domain Group. “These value suburbs at the bottom end are keeping the market afloat.”

According to local agents, these suburbs’ reputations had improved over recent years, so stigmas are not enough to drive buyers away. The boom on granny flats was another huge factor.

“Since the council relaxed rules on granny flats, we have seen a lot of houses take advantage  of their big block sizes in Inala and granny flats have popped up everywhere,” said Inala’s  Coulson Real Estate principal Brian MacDiarmid.

Other things that attract buyers include these suburbs’ prices, as well as their proximity to schools, the airport, and the CBD.

Keywords: Brisbane, Inala, suburb

Reference: http://www.domain.com.au/news/brisbanes-oncerough-suburbs-selling-fastest-20160708-gq17d5/

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