So, you’re thinking about investing in Brisbane property in 2021 – but where should you buy? We put three Brisbane suburbs under the property investment spotlight.
While Camp Hill’s star has been on the rise for a few years now, it still has further to go, making it well worth a look for property investors.
Median property prices in Camp Hill over the last year range from $920,500 for houses to $465,000 for units, with houses experiencing a compound growth rate of 4.5% and units 0.1% over the last five years.
With plenty of new builds and quality renovations, Camp Hill property is up there with the likes of high-end Hawthorne or Bulimba, but it remains (for the time being at least) more affordable.
Camp Hill’s highly desirable mix of quiet streets, twinkling city views and restorative green spaces like Whites Hill Reserve, all only 6km from the city, attracts young professionals and retirees alike. The ultra-convenient Camp Hill Marketplace on Samuel Street offers delicious dining, fresh food and lifestyle services, and the Martha Street café precinct oozes style and charm. Westfield Carindale, Queensland’s second largest shopping centre, is a 5-minute drive away.
Leafy Camp Hill is particularly sought after by families, given its proximity to well-regarded state and public schools. Both the local primary schools, Camp Hill Infants and Primary School and St Thomas’ School, are well regarded, as is White Hill State College. Top high schools such as Brisbane State High School, Brisbane Grammar and Brisbane Girls Grammar Schools and San Sisto College, amongst others, are all accessible from Camp Hill via excellent public transport links.
Camp Hill houses rent out for $550 per week with an annual rental yield of 3.1% and units rent for $410 per week with a yield of 4.6%. One quarter of Camp Hill’s residents are renters, and the current rental vacancy rate is a super low 1.59%, even lower than the Brisbane-wide rate of 1.8%.
Morningside is something of a hidden gem – just what every property investor hopes to find. It sits alongside sought-after suburbs like Hawthorne, Norman Park, Balmoral, and Bulimba, but Morningside property prices offer excellent value compared to those of its neighbours.
The median price for a house in Morningside over the last twelve months was $810,000, and $461,250 for a unit. Over the last five years, houses in Morningside experienced a compound growth rate of 2.4%, whilst units lost 1.3%.
Morningside is ideally located only 15 minutes’ drive from the city, or 20 minutes by train. Bulimba’s dining and shopping precinct on Oxford Street is only moments away, and Brisbane Airport is a quick 15 minutes’ drive. While in the past Morningside has been synonymous with aircraft noise, the airport’s new runway has been designed to reduce the number of planes over the suburb, bringing far more peace and quiet.
Morningside’s riverfront location is a big drawcard, with Colmslie Recreation Reserve and its dog-friendly beach enjoyed by dog walkers, jet-skiers, boaters, and picnickers alike.
Morningside’s larger homes make it popular with families. Several of Brisbane’s top schools, including Seven Hills State School, Cannon Hills Anglican College, Anglican Church Grammar School (Churchie) and Citipointe Christian College are all within 5km of Morningside.
A large rental population of 41.7% makes Morningside a good proposition for property investors. The current vacancy rate is 2.38%, with houses renting out for $520 per week and units $430 per week. The annual rental yield for houses is 3.3% and for units is 4.8%.
With a rental population of 39.6%, heritage suburb Coorparoo is an investor’s delight. Residents include healthcare workers from the nearby Princess Alexandra Hospital, Queensland Children’s Hospital and Greenslopes Private Hospital, as well as young professionals working in the city only 7km away. Coorparoo has a wide variety of housing styles nestled in its hills, from both new and older style units to tastefully renovated Queenslanders, Art Deco properties, and Californian bungalows.
Over the last year, the median price for a house in Coorparoo was $935,000 while the median price for a unit was $392,250.
Coorparoo offers residents an enviable lifestyle, with some even suggesting it gives Bulimba a run for its money as the best inner-city area on the southside. Cavendish Road boasts some of the best restaurants south of the river and Coorparoo Square, opened in 2017, houses a cinema, supermarket, and specialty retailers, as well as more dining options. Commuting to the city is a breeze on the train and there are plenty of great schools within easy reach, including Loreto College, Villanova College and Coorparoo State School. Lots of parks, green spaces and running and mountain biking trails, such as Majestic Park, keep residents in touch with the great outdoors even while living so close to the city.
A popular suburb, Coorparoo’s current rental vacancy rate is 1.87%, in line with the current Brisbane-wide rate of 1.8% (which is itself a record low at the end of 2020).
Coorparoo houses rent out for $515 per week, and units for $380 per week. Over the past five years, houses have experienced a compound growth rate of 3.7% while units have lost 3.9%. Despite this, houses in Coorparoo enjoy an annual rental yield of 2.9% and units a very healthy 5.0%.
For more advice on investing in property in Brisbane, contact our experienced team today.