Domain Group recently projected that house prices would grow across Brisbane in 2017, with several areas outperforming the rest.
Dr. Andrew Wilson, Domain Group’s chief economist, picked the following nine suburbs in the prestige, premium, and affordable categories. Buyers can expect strong returns on their investment and vendors can expect strong interest in properties situated in these suburbs.
Prestige suburbs: Hawthorne, Highgate Hill, and Kelvin Grove.
Among the three high-performing prestige suburbs, Wilson’s top pick is Hawthorne. Buyers favour the blue-chip suburb due to its proximity to the Brisbane River, the central business district, and entertainment precincts.
Roger Carr, principal at Ray White Bulimba, agrees that Hawthorne is preeminent among Brisbane’s premier suburbs. “Hawthorne leads the way. It’s like Ascot on the south side,” he said.
Boasting a median house price of $1.2 million, the barrier to entry in Hawthorne is pretty steep. According to Carr, its exclusivity is another selling point.
“It’s got the highest median price south of the river, and that reflects on people’s taste and what they’d like to pay to live in an area like that,” he said.
Premium suburbs: Sinnamon Park, Toowong, and Burpengary East.
Wilson predicts that the inner suburb of Toowong, situated 5 kilometres west of Brisbane’s CBD, would be the best performing suburb in the premium price range this year.
Toowong’s biggest selling points are its great infrastructure and proximity to popular schools and the University of Queensland.
“It’s a good opportunity in the middle price range although the price is pushing up past median,” said Wilson. “You have buyers aspiring to live in that area.”
Vern Gilbert, a local property consultant, said Toowong prices have grown steadily over the last decade with very few fluctuations. “Toowong’s grown ever since I started in real estate,” he said. “Even in the  downturn it held very well in comparison to other suburbs because of the infrastructure.”
He added that Toowong was “remarkably affordable” for a suburb situated so close to a CBD, compared to other Aussie capital cities.
Affordable suburbs: Keperra, Heritage Park, and Redcliffe.
Wilson has identified Redcliffe as a strong growth area for the second year in a row. He noted that the beachside town has the potential to attract more residents as developers continue to invest in the surrounding area.
“It’s an established area, Redcliffe,” he said. “It’s not looked on as an outpost as it may have been previously.”
Jan Jones, owner of Jan Jones Realty, said Redcliffe was a safe investment for retirees and families. “We’re a bayside location and we’re offering a lifestyle,” she said. “We also have great schools whether they’re public or private.”
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