The latest data from the Domain Group has identified five Brisbane suburbs where house prices have hit $800,000 or more: Alderley, Gordon Park, Woolloongabba, Camp Hill, and Seven Hills.
House prices in Camp Hill rose by 13% last year to hit a new median price of $915,000. While the suburb may have previously played second fiddle to Coorparoo, it has since come into its own, according to Antonia Mercorella, CEO of the Real Estate Institute of Queensland (REIQ).
Mercorella said property prices in Camp Hill have risen substantially over the last five years due to its proximity to the city centre, stellar infrastructure, and world-class retail and dining experiences.
“For those on the northern side of the river, Ashgrove and Newmarket have been suburbs synonymous with old money, with the stunning Queenslander style of home on a larger block, but also of higher price tags,” she told the Domain Group.
“Today, the rising star suburbs jostling for attention would be Alderley and Gordon Park. These two busy hubs may be a little bit more brash, but they’ve got great cafe precincts, access to the arterial roads of Enoggera and Gympie roads, and they can bask in the reflected glory of the million-dollar suburbs liberally sprinkled around them, such as Wilston and Grange.”
Situated 5km east of the Brisbane CBD, Seven Hills recorded a median house price increase of 25% over the 12 months to December 2017.
Gunther Behrendt, an agent at Ray White Bulimba, still calls Seven Hills a “secret suburb,” but adds that it may not remain obscure for long, as more families are buying into the area due to the popularity of the Seven Hills State School.
Also read: Emerging investment hotspots in Brisbane’s middle ring
Collections: Mortgage News
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