Brisbane, as capital of the tropical Sunshine State, has always enjoyed a consistent and strong population growth. Its population grew by 48,000 people in 2017 to reach 2.4 million – a two percent increase since June 2016, which is equal to Sydney and second only to Melbourne (2.7 percent). No doubt its popularity for new residents lies in its sunny climate, proximity to the Gold and Sunshine Coasts, and the growth seen in jobs over the past few years.
Interstate migration plays a significant part in this growth. Head of research at property market research firm Propertyology, Simon Pressley, says Queensland’s interstate migration has continued its run with 28,668 adding to the state’s population growth for the year to June last year.
However, it can be daunting moving to a new area, whether in a different state or not, and settling in with a bond or mortgage, then discovering that your chosen area does not suit your lifestyle can be an extremely stressful prospect.
So to help out, we’ve put together a list of different buyer demographics, what suburb is best suited to them, and why. We hope it’s useful.
Tarragindi, Annerley & Holland Park contain a number of homes for under $900k. These are investor havens, especially properties with land that is greater than 600m2. I find that under $900k the ratio of owner occupier to investor is 60-40. When it goes over $1million in these areas it turns to 90-95% in favour of owner occupiers.
First home buyers
Moorooka and Mount Gravatt have become increasingly popular with the first home buyer market as it still has properties under $750k available. These suburbs have seen high growth in the last 12 months.
The Camp Hill premium market slowed down in 2018-2019 (over $1million), due to the volume of newly built homes which came to the market accompanied by the economic trends and interest rates. This has recovered towards the end of 2019 with the lower interest rates.
The Tarragindi premium market is reaching new strengths, with new records being set for 405m2 land sales as well as 405m2 land with newly built homes (notably 74 Effingham St, Tarragindi selling for $1.53million – a new record in Tarragindi for a 405m2 block).
When looking for family houses, Bulimba is best suited for families looking for good schools, beautiful tree lined streets and entertaining/dining precincts.
Balmoral suits younger couples or families looking to get into the area without the price tags of Hawthorne and Bulimba. Balmoral also has easy access to the airport.
Coorparoo and Camp Hill are perfect for upsizers and families due the following:
- great public and private schools
- ease of access for express buses and train (Coorparoo)
- Coorparoo Square has excellent shopping options with two Westfield shopping centres within shorts drives of each other.
- many larger blocks perfect for kids
Coorparoo also has great potential with downsizers due to the following:
-.Coorparoo Square development contains apartments of a range of sizes, with full lift access, two swimming pools, city views, a function room, gym, tennis court, and more. It also has Aldi on ground level with Woolworths and Coles close by with eateries, coffee shops, bars, and other personal services that would suit someone not able to travel far.
Additionally, Coorparoo has a wide range of aged care facilities in the area, many other unit developments with ground-level units or unit blocks with lifts, East leagues club and Coorparoo bowls club.
Hawthorne suits executives living closer to CBD, as it has superb public transport options.