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