Queens­land’s fastest sell­ing sub­urbs

The state’s hottest sub­urbs are driven by af­ford­abil­ity and prox­im­ity to Bris­bane’s CBD, buy­ing data re­veals.

The Courier-Mail - Property - - REALESTATE NEWS -

BUY­ERS on a bud­get keen to snag a house as close to Bris­bane’s CBD as pos­si­ble are pur­chas­ing prop­erty in as lit­tle as two days, ac­cord­ing to in­ter­nal data sourced from realestate.com.au.

Sub­urbs on the fringe of the 5km in­ner city ring, led by Ten­nyson, are at­tract­ing the quick­est sales as house hun­ters search for the next best prop­erty for their price.

REA Group chief econ­o­mist Nerida Con­is­bee says the statis­tics – taken from when a prop­erty was listed to when it sold – shows af­ford­abil­ity is driv­ing quick sales.

“The mar­ket seems quite ro­bust and things are sell­ing quickly,” she says.

“Ev­ery­thing is so close to the river which I didn’t ex­pect.”

Ms Con­is­bee says Queens­land’s fastest grow­ing sub­urbs dif­fer from those in NSW or Vic­to­ria.

“It shows sub­urbs that were quite cen­tral and that’s re­ally dif­fer­ent to other ar­eas,” she says.

“I just think there must be still quite a few af­ford­able op­tions in Bris­bane.

“Na­tion­ally it was all about Sydney and Mel­bourne and sub­urbs within com­mut­ing dis­tance but re­ally quite far away from the CBD.”

Based on me­dian days on the mar­ket over the 12 months to April, Ten­nyson is Queens­land’s fastest sell­ing sub­urb (32) fol­lowed by Dut­ton Park (33), Mu­rar­rie (33), Camp Hill (33) and Seven Hills (34).

Ac­cord­ing to Adam No­bel of SPACE Prop­erty Agents South Bris­bane, Ten­nyson of­fers great bang for a buyer’s buck.

“There were a num­ber of houses on the mar­ket un­der $600,000 and even $500,000,” he says.

“To find a prop­erty un­der 10km from the CBD with a train sta­tion, park and great schools around you is ex­cel­lent value.”

In July, Mr No­bel suc­cess­fully mar­keted 20 Lancelot St, Ten­nyson, which sold in nine days for $470,000.

He says the com­mon de­nom­i­na­tor across Queens­land’s top five fastest sell­ing sub­urbs is price and lo­ca­tion.

“Camp Hill is boom­ing, it re­ally is, as peo­ple from New Farm and Bulimba sell up and buy there,” he says.

“Mu­rar­rie is the same thing, very good value for peo­ple who want to live in Morn­ing­side or Hawthorne. Dut­ton Park of­fers re­ally good value com­pared to West End, High­gate Hill and South Bris­bane.”

But Mr No­bel be­lieves Seven Hills is the best sub­urb to buy in Bris­bane.

“Seven Hills is a lot closer than Camp Hill to the city,” he says.

“Peo­ple are over­pay­ing in Camp Hill whereas in Seven Hills peo­ple are un­der­pay­ing.”

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