Property and rental value in some of Brisbane’s suburbs is increasing. Check out this list to see if your suburb is the place to invest in 2014.
Where is it: 8km north-east of the CBD, next to Toombul and Geebung.
Why it’s trending: Property prices are still relatively low, given its proximity to the city and great transport links. The recent ‘I (heart) Nundah’ campaign is hinting at its growing appeal to a younger market.
Median rent: $425/week for a three-bedroom
Median sale price: $610k for a four-bedroom
Cultural hotspots: Centred Art on Hamson Terrace, with its curated selection of Indigenous and local art.
Foodie hotspots: Nundah Village has a good selection of independent cafes for weekend brunches, and you’re a 10 minute drive to Paddington and Red Hill.
Who your neighbours are: Young families who work in the city.
Where is it: Next door to Manly on the east coast of Brisbane, approx. 16 km from the CBD.
Why it’s trending: Bayside properties are the next big thing in Brisbane, as people move out of the overpriced inner-west and seek seaside living with good links back to the CBD.
Median rent: $400/week or a three-bedroom
Median sale price: $417k for a three-bedroom
Cultural hotspots: Wynnum Markets – held daily – have some excellent vintage treasures and antiques for the home, as well as showcasing local artists
Foodie hotspots: There are some great local cafes opening up along the waterfront, as well as a good selection of high-street chains – Capers Pizza, Sushi Train etc. The older-style waterfront pubs are enjoying a revival and serve great food.
Who your neighbours are: Aspirational 35 to 44 year-olds with teenage children.
Where is it: 10km north of the CBD, next to Aspley.
Why it’s trending: Once seen as the daggy stopping point between the CBD and the northern suburbs, Chermside is coming into its own as an affordable, convenient and bustling suburb with excellent transpor.
Median rent: $390/week for a three-bedroom
Median sale price: $440k for a three-bedroom
Cultural hotspots: Forget Westfield Chermside – although it is convenient – and head up Gympie Road towards Wooloowin for local galleries and theatres.
Foodie hotspots: Scuzi at Westfield Chermside is surprisingly good for Saturday brunch, while Bella Cosi serves authentic Italian in a beautiful space.
Who your neighbours are: Independent 20 to 30 year-olds who work both creative and public sector jobs.
Where is it: 6km south of the CBD (and 3km from UQ St Lucia using the Green Bridge), Annerley connects to the rest of Brisbane via Ipswich Road and easy access to the Clem 7 tunnel.
Why it’s trending: Several new apartment blocks and a new shopping complex are turning the tired Annerley strip into somewhere convenient and fresh. Trendy cafes are popping up and the new Red Lotus and Billy Kart Kitchen have been immediate hits with locals.
Median rent: $450 per week – units $380 per week
Median sale price: $535,000 – units $378,666
Foodie hotspots: Groove Café, Billy Kart Kitchen, Café O-Mai, Azafran, Red Lotus, BOX’D Espresso Bar.
Who your neighbours are: Young professionals (25-34 years) with children.
Where is it: 3km south of the CBD, next to Toowong and Milton.
Why it’s trending: Toowong’s little sister is growing into her own – close to the city, UQ St Lucia and the hotspots of Paddington and Toowong, Auchenflower is a quiet achiever and certainly one to watch
Median rent: $530 per week for three bedroom
Median sale price: $760,000 for three bed
Cultural hotspots: Mt Coot-tha Botanic Gardens.
Foodie hotspots: Café Auchenflower, Deer Duck Bistro, Toro Bar, Grimes Bistro.
Who your neighbours are: University students and young professionals.
Where is it: Just under 10km from the city – easy access via train line.
Why it’s trending: The new Queensland tennis centre is just the beginning for Tennyson. Close to hotspot Yeronga, Tennyson’s development is pointing in the direction of up-and-coming. If gentrification plans for Yeerongpilly go ahead, Tennyson (with its low investment prices) will be the place to be.
Median rent: $420 per week for three bedroom
Median sale price: $529,000
Cultural hotspot: Queensland Tennis Centre.
Foodie hotspots: Buzz Tennyson, The Hyde Out, Anesis.
Who your neighbours are: Older couples and families.
Where is it: Dutton Park lies east of the Brisbane River, opposite from St Lucia. It’s 4km from Brisbane CBD, a 5-7 minute drive or 14 minutes by train.
Why it’s trending: Dutton Park’s appeal lies in its river frontage and proximity to the CBD. Many of the old style cottages have been recently renovated into modern apartments. It’s well serviced by public transport, and currently look forwards to development of the Boggo Road precinct – proposed to be a residential, retail and commercial centre.
Median rent: $540/week for a three-bedroom
Median sale price: $624k for a three-bedroom
Cultural hotspots: Dutton Park is dominated by a recreation area which is popular for picnics, tranquil riverside walks and a free-leash area for your furry friend. Otherwise, most locals head to the city for cultural events.
Foodie hotspots: Woolloongabba is a stone’s throw from Dutton Park, where an upcoming bar scene can be found. The Canvas Club, Chalk Hotel and Brewhouse Brisbane are the best picks of the bunch.
Who your neighbours are: It has a population of approximately 4100, comprised mostly of independent, working adults.
Fun Fact: The Boggo Road Gaol opened in 1883, and was only demolished in 1996.
Where is it: Balmoral is an inner eastern suburb, 9km from the CBD, a 10-15 minute drive, or 20 minutes by train.
Why it’s trending: Balmoral was the top Brisbane suburb for house value growth in 2013, with a rise of 15.2 per cent. It’s also a neighbour of Bulimba – a popular, picturesque village.
Median rent: $700/week for a three-bedroom
Median sale price: $677k for a three-bedroom
Cultural hotspots: Balmoral Park and the Cineplex are two local hangouts spots for the weekend.
Foodie hotspots: The Oxford Street precinct has plenty of award-winning alfresco dining options.
Who your neighbours will be: The median age for Balmoral is about 35, and is populated by working adults, established couples and families.
Fun Fact: Balmoral is an Anglicisation of Baile Mhoireil’ which is Scottish Gaelic for ‘beautiful residence’ or ‘majestic castle.
Where is it: Mitchelton is 8km northwest from Brisbane CBD, a 15-20 minute drive or 35 minutes by train.
Why it’s trending: Many Brisbane families have found an ideal home in Mitchelton. The parks and recreation facilities, schools and low crime rate have been ranked as the top factors.
Median rent: $360/week for a three-bedroom
Median buy: $480k for a three-bedroom
Cultural hotspots: Brookside Shopping Centre is the largest retail precinct in northwest Brisbane
Foodie hotspots: Mitchelton residents flock to the farmers’ markets, held monthly on a Sunday morning, for the gourmet delicatessen foods, fresh produce and artisan breads.
Who your neighbours will be: Established/older couples and families with children. Mitchelton also has a diverse, multicultural community.
Fun Fact: Mitchelton’s name comes from one particular English family, who settled in the area in the 1870s
Where is it: Sandgate is a coastal suburb located 16 km north of the Brisbane CBD.
Why it’s trending: Sandgate’s position on Brisbane’s coastline is attracting families who want a relaxed lifestyle, while still being within a close commute to the Brisbane CBD.
Median rent: $410/week for a three-bedroom
Median buy: $473k for a three-bedroom
Cultural hotspots: Sandgate hosts a range of festivals and markets each year, including the Sandgate Bluewater Festival and the Music By The Sea Festival.
Foodie hotspots: There are plenty of seaside cafes and takeaways opening up along the Sandgate waterfront including Little Crepe Factory and Dougs, as well as a new cool and quirky drinking establishment Cardigan Bar.
Who your neighbours will be: Established/older couples and families and elderly singles.
Where is it: Redcliffe is a residential suburb of the Moreton Bay Region, approximately 28 kilometres north-north-east of Brisbane.
Why it’s trending: The Moreton Bay Region is one of the fastest developing places in Australia and with its low median prices Redcliffe appeals to older generations wanting a getaway from the city, without living on the coast
Median rent: $330/week for a three-bedroom
Median buy: $330k for a three-bedroom
Cultural hotspots: The Redcliffe Jetty markets are on every Sunday on the Redcliffe foreshore.
Foodie hotspots: Redcliffe has plenty of pubs, clubs and cafes along its foreshore including Brick Bistro Bar, The Rustic Olive, Workshop Co. Expresso Bar, and Feel Goodz Gourmet Café.
Who your neighbours will be: Elderly singles, older couples and families and older independence.
Where is it: Carindale is located 10 km east of the Brisbane CBD.
Why it’s trending: With its close proximity to the city and affordable pricing, there has been an increase in independent youth and maturing couples venturing to this east side suburb.
Median rent: $450/week for a three-bedroom
Median buy: $570k for a three-bedroom
Cultural hotspots: Carindale is home to Westfield Carindale,which became the sixth-largest shopping centre in Australia on completion of redevelopment in 2012.
Foodie hotspots: Carindale offers a diverse international palette, with some of the favourite hotspots of this suburb according to Urbanspoon being Chang Tong Thai, Asia House Chinese, Roman Empire restaurant, A Night In India and Backstreet Expresso.
Who your neighbours will be: Older couples and families and older independents are currently among the majority in Carindale, with younger trends recently being seen in the suburb.
Original article published at www.bmag.com.au 6/3/2014
Queensland’s population hits 5 million people today
Queensland’s population has tipped the 5 million mark today, Premier Annastacia Palaszczuk has told State Parliament.
Ms Palaszczuk said several expectant families were on standby to welcome the state’s five-millionth resident.
“Somewhere today a brand new mum and dad will be eager to meet their new arrival,” she told the house.
“The whole family will want to know: is it a boy or is it a girl? And the doctor will say, ‘congratulations, it’s a Queenslander’.”
Ms Palaszczuk said the two main drivers of the increase were migration growth, particularly from New South Wales, and from 60,000 babies being born in the past year.
PHOTO: The state’s five-millionth resident was born today.(ABC North Queensland: Nathalie Fernbach)
“Overseas and interstate migration is up by 50,000 people in the past year, 19,000 came from interstate … more than 12,000, or 230 a week, move from New South Wales to Queensland,” she said.
ABS data also revealed the fastest and largest-growing area in Queensland in 2016-17 was Pimpama on the Gold Coast, which grew by 3,000 people.
Large growth also occurred in Jimboomba on Brisbane’s south side and in North Lakes — a suburb north of the city — which both increased by 2,100 people.
Coomera on the Gold Coast and Springfield Lakes in Ipswich also experienced large growth up 1,400 people.
The State Government’s population counter gives a “synthetic estimate” of the number of current Queenslanders, assuming a total population increase of one person every 6 minutes and 22 seconds.
Earlier this year the Australian Bureau of Statistics (ABS) said Queensland’s population was growing at 1.7 per cent and was projected to tick over to 5 million in May.
ABS data released in March also revealed Brisbane was one of the country’s fastest-growing cities and had increased by 48,000 in 2017, hitting 2.4 million people.
ABS demography director Anthony Grubb said the state’s population had “come a long way” in the last century.
“In 1901 the population was half a million; a tenth of what it is today… it took 37 years to hit the 1 million milestone in 1938 and another 36 years to reach 2 million in 1974,” he said.
But Mr Grubb said population growth “picked up the pace” after that, taking just 18 years to reach 3 million then only another 14 years to hit 4 million in 2006.
Queensland could be leading growth state in future
Population demographer Dr Elin Charles-Edwards said although Queensland is not currently the fastest growing state, it is possible it could top the leader board later down the track.
‘Not in the short-term, but Queensland is coming up off a relatively subdued growth so perhaps we might be entering an era of more rapid growth,” she said.
Dr Charles-Edwards said the challenges that generally come with increased population could be managed in Queensland.
“As long as we keep up and don’t take our eye off the ball we can continue to absorb quite high levels of growth… but really it’s keeping up with the infrastructure that’s the key challenge,” she said.
Dr Charles-Edwards said it was important to note some parts of the state, particularly in western Queensland, were experiencing population decline.
“While the south-east corner is growing and also many Indigenous communities are growing, other parts of the state are shrinking,” she said.
“Perhaps we could do more to encourage people to move outside the south-east corner.
“If we were able to work out some way to decentralise our population, growth a little bit further up into the northern regional centres, I think that would benefit the growth of south-east Queensland.”
APRA to end cap on property investor loan growth
APRA is removing the 10 per cent ‘speed limit’ on investor loan growth.
Photo: Louise Kennerley
The banking regulator is axing a 10 per cent speed limit on bank lending to property investors, saying the cap has served its purpose and improved credit standards.
With Sydney house prices falling and credit growth slowing, the Australian Prudential Regulation Authority on Thursday said it would remove the cap for bank boards that could prove they had been following its guidelines on prudent lending.
In late 2014, amid a surge in borrowing by property investors and rapid house price growth, APRA took the rare step of setting a 10 per cent limit on the annual growth in banks’ housing investor loan portfolios.
The measure has rocked the mortgage market in recent years, prompting banks to jack up interest rates for housing investors, and demand borrowers stump up bigger deposits.
But on Thursday, APRA chairman Wayne Byres said it was prepared to remove the measure because there had been an improvement in lending standards and a slowdown in credit growth.
“The temporary benchmark on investor loan growth has served its purpose. Lending growth has moderated, standards have been lifted and oversight has improved,” Mr Byres
Even so, the regulator will retain a separate 2017 policy that requires banks to limit their new interest-only lending to less than 30 per cent of all new home loan approvals.
APRA also said there was “more to do” in improving other aspects of banks’ lending, including how they assessed borrowers’ expenses, their existing debts, and the approval of loans that fell outside of banks’ formal lending policies.
APRA said it expected banks to introduce limits on the proportion of new lending that could be done at “very high” debt-to-income levels.
“In the current environment, APRA supervisors will continue to closely monitor any changes in lending standards,” Mr Byres said.
“The benchmark on interest-only lending will also continue to apply. APRA will consider the need for further changes to its approach as conditions evolve, in consultation with the other members of the Council of Financial Regulators.”
Brisbane’s population picks up, but more people moving to Pimpama
Brisbane’s population hit 2.4 million in June 2017, according to ABS figures.Source:Supplied
BRISBANE is back among Australia’s fastest-growing cities thanks to a growth spurt, but more people are flocking to areas outside the state’s capital.
New figures from the Australian Bureau of Statistics show the city’s population grew by 48,000 in the year to June 2017 to hit 2.4 million — the fastest rate of growth in four years.
Births accounted for 37 per cent of the growth, while interstate migration accounted for 25 per cent.
The fastest and largest-growing area in Queensland is Pimpama on the Gold Coast, which grew by 3000 people or 31 per cent in 2016-17.
An aerial shot of Pimpama on the northern end of the Gold Coast. Picture: skyepicsaerialphotography.Source:Supplied
Other areas to experience significant population growth include Jimboomba on the southern outskirts of Brisbane, North Lakes-Mango Hill in the Moreton Bay region, Coomera on the Gold Coast and Springfield Lakes in Ipswich.
ABS demography director Anthony Grubb said the latest population estimates were the first to include data on the components driving population growth in capital cities and regions.
“It is now possible to not only see how much population is changing in an area, but to understand why this change is occurring”, he said.
Michael Matusik, director of independent property advisory Matusik Property Insights, believes Queensland’s improving population growth should impact house prices, but it hadn’t so far because the state’s economy also needed to improve.
Mr Matusik told The Courier-Mail Pimpama’s population was growing at a rate he didn’t believe was sustainable.
“It’s a reflection of where land supply is on the Gold Coast at the moment and I think that will calm down,” he said.
“But if the Gold Coast is going to continue expanding, those areas will become more like North Lakes in due course.”
Sydney’s population grew by just over 100,000 people in one year for the first time, taking that city’s total numbers to 5.1 million.
Australia’s big east coast cities carried most of the growth — Melbourne, Sydney and Brisbane accounted for over 70 per cent of Australia’s population increase.
Darwin, Adelaide and Perth grew at 1 per cent or less.
TOP FIVE POPULATION GROWTH AREAS IN QLD
Suburb Population change 2016-17 Population as at June 30, 2017
1. Pimpama, Gold Coast 30.8% 12,586
2. Jimboomba 7.9% 28,639
3. North Lakes-Mango Hill 6.7% 33,225
4. Coomera 10.3% 15,227
5. Springfield Lakes 8.7% 17,468