By Natasha Dodeja, Principal of Ray White Camp Hill
Are you thinking of making 2021 your property year?
Whether you’re an investor, upgrader, downsizer or First Home Buyer, the attraction of record-low interest rates may have you thinking about making a strategic move in the market.
Many experts believe Brisbane property owners are set to enjoy a promising 12 months. CBA, for instance, predicts Brisbane house prices will increase in value by 9.5% in 2021. ANZ thinks similarly.
Now, we should all treat these predictions as what they are: forecasts. Even the economists at the major lenders concede they don’t have a crystal ball.
But what we should take away from the predictions is the optimism in the local market. The predictions follow on from the fact that in 2019-20, Queensland’s population growth rate was the fastest of any Australian state or territory. It’s a simple equation: more people = more demand.
In our own backyard, we’ve seen a lot of interest from buyers in Camp Hill, Coorparoo and Norman Park. We’re naturally a little biased: we work with clients throughout Inner-East Brisbane everyday so we know first-hand about the area’s convenient access to the city, schools, shopping and a wide selection of housing types.
Let’s have a look at why these markets are so in-demand.
Camp Hill is one of the most sought-after suburbs in Brisbane.
There’s a wide array of housing styles in Camp Hill. From quaint gable roof-lined homes framed by hedges and white picket fences, to modular, contemporary rebuilds: there’s a housing style to suit every discerning buyer.
Camp Hill has a median house price of $926,000, but the breadth of sales prices is wide. In the last 12 months, seven properties sold for under $600,000, while two residences topped the $3m sale mark.
Who lives in Camp Hill?
It’s home to many of Brisbane’s legal eagles. In fact, lawyers, solicitors and other legal professionals are three times more likely to settle in Camp Hill than the average Queensland suburb.
There’s also a higher proportion of people working in the health care sector in Coorparoo, than the rest of Queensland.
More than one in three residents aged over 15 identified as a ‘Professional’ in the last Census.
Which are the schools in Camp Hill?
Whites Hill State College (K-12)
St Thomas Catholic (Primary)
Camp Hill State Infants and Primary
Coorparoo has undergone a renaissance in recent years.
The redevelopment of the former Myer building – a suburb landmark – for apartment living has increased the housing choice in Coorparoo, as has a number of other mixed-use developments.
In fact, Coorparoo’s population grew 3 percent annually between 2016 and 2019 – the fastest growing suburb in its Council Ward area. More than 18,000 residents now call it home.
Coorparoo recorded a five year-high for the volume of property sales in 2020.
Who lives in Coorparoo?
Rezonings and redevelopment has revitalised the community of Coorparoo. A new demographic of young professionals seeking a modern lifestyle with all the conveniences of funky restaurants and low-maintenance apartment living. Coorparoo residents have a median age of 34.
With major arterial Old Cleveland Road dissecting the suburb, Coorparoo benefits from a wide range of public transport options heading from the Bayside areas to the city.
Coorparoo also has a higher proportion of State Government employees than other Queensland regions.
Which are the schools in Coorparoo?
Coorparoo Secondary College
Coorparoo State School (Primary)
Our Lady of Mount Carmel (Primary)
Norman Park has a wide array of homes throughout the suburb – everything from beautifully restored Federation-era homes to contemporary, architect designs.
Waterfront homes are spoilt for views, looking across the Brisbane River to New Farm and beyond to the city skyline.
Who lives in Norman Park?
Norman Park’s demographics are particularly interesting.
40% of adults in Norman Park hold a Bachelor Degree or higher – more than double the wider Queensland rate for the same level of education.
It’s a high earning suburb, with the median family income coming in at almost $3000 per week (the Queensland weekly median is $1662).
They’re also a hardworking bunch in Norman Park, with approximately half of the adult population working more than 40 hours a week.
The median age is 34.
Which are the schools in Norman Park?
Norman Park State School (Primary)
At Ray White Camp Hill, our sales agents and property managers specialize in these suburbs and more. The first step in any property journey is finding out how much your existing property is worth. Give us a call today on 0468 466 973 for a free appraisal.