Inner south market tipped to rise in 2018

first_imgThis home at 7 Black St, Yeerongpilly, is on the market for offers over $789,000.WITH the inner south real estate market steaming ahead, one local agent is warning buyers to purchase in 2018 or regret it next year. LJ Hooker Annerley Yeronga principal Jane Elvin said the market in Brisbane’s south was “moving forward”.“Get in now and sit and hold is probably the best advice I can give, and I have been given,” she said. “If you don’t buy in 2018, you will be regretting it in 2019 when the prices have risen again.” According to the latest data from property research company CoreLogic, the median house price in the City South News catchment has risen as much as 15.5 per cent in the year to September. The top performing suburb was Yeerongpilly, followed by Kangaroo Point (15.1 per cent) and Woolloongabba (9.8 per cent). Ms Elvin said the lower end of the market in the area continued to perform well throughout 2017, with first homebuyers, investors and downsizers creating competition. She said buyers were predominantly families looking to be closer to schools and transport, while the area’s proximity to UQ and major hospitals also attracted workers and students. “Our challenge is having enough properties in this price range to meet demand,” she said. More from newsCrowd expected as mega estate goes under the hammer7 Aug 2020Hard work, resourcefulness and $17k bring old Ipswich home back to life20 Apr 2020Ms Elvin said she was also seeing more riverfront properties available in the higher end of the market. “This is slowing the market down a bit but this will change,” she said. “Renovated or newly-built family homes under the $2 million range always attract attention.“Buyers want to walk into a complete home and start living, so when these homes do enter the market they can sell quickly.” Ms Elvin said Yeronga was her pick for the suburb to watch. “It is always highly sought after, especially with families,” she said.“Yeerongpilly and Fairfield are a lot smaller pockets with less stock available, but again providing some premium real estate along the train line, with great access to many conveniences.” Ms Elvin said the lack of land available in the City South News catchment, combined with access to amenities, meant prices would continue to rise.“We are surrounded by some of the best transport systems in both train and bus, Fairfield Gardens is undergoing a major overhaul with Aldi and speciality shops, and Yeerongpilly Green is under construction, which will bring us a night life with restaurants, cafes and bars,” she said.“The Green Bridge connects us to UQ and we are moments from Queensland’s best schools, sporting grounds, hospitals and medical facilities.last_img

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