Buying In Premium Inner West Brisbane? Here's How the Property Market is Travelling
John Robert McPherson, CC BY-SA 4.0 via Wikimedia Commons
Premium inner west Brisbane has several stunning neighbourhoods to explore if you're looking to move to the area. Before you buy, you might want to learn more about the market and consider whether now is the time to buy or if you should take your time to find the perfect locale.
Indooroopilly Properties
Indooroopilly is a hot spot, with buyers eager to find a property in the area and the property prices reflect this. Homes move fast in this area, so you can't afford to wait around if there's something that meets your wants and needs. The median house price, $1,540,000, has grown over 6% in the last 12 months, with unit prices increasing by 12% over the same period.
Toowong Properties
Just six kilometres from Brisbane's CBD, this riverside suburb offers a median house price of $1,600,000, up 6.7% compared to last year. If you're in the market for an apartment, prices have increased by over 12%. It's one of the most sought-after areas in the region, and homes typically spend no more than 50 days on the market.
Milton Properties
If you're looking for a small town with amenities within easy walking distance, Milton might be the riverside suburb you've been looking for. While Milton's median house price is $1,475,000, that is a drop of almost 6% in the last six months, spending an average of 77 days on the market. Apartment prices have bucked that trend, on an increase of 9.1%.
St Lucia Properties
Home to the University of Queensland, St Lucia is on a massive property upswing. With home prices up a whopping 25.7%, St Lucia's median house price is $2,050,000. The median apartment price is $650,000, up 13.4%. It's a popular area, and if you want to enter the market, you need to move fast and be willing to spend big to make it happen.
Auchenflower Properties
It's home to some of the most beautiful gardens and homes, which may explain why the median house price has grown by 18.5% in the last year. If you're in the market for an apartment, 12-month growth is up by 34.2%, with the average property spending around 13 days on the market.
Pre-Purchasing Building Inspections Brisbane
When you find the home of your dreams, don't forget the inspection side of things. Carrying out a pre-purchasing building inspection in the week before you complete the sale is a must. It's your opportunity to pick up any issues that may have been overlooked earlier and to ensure the property is in the condition you last viewed it.
