Bulimba’s star continues to shine with its village atmosphere and river access to the city.
How often have you had the conversation that includes “if I only knew, I would have bought two”? Houses that is.
Hindsight is a great thing … who would have thought the wharf area around Newstead and New Farm would be one of Brisbane’s booming suburbs? Clearly not developers as the Brisbane River was once so underrated that a block of units is built with its back to the river!
Another investor bought up land at Wacol …”the end of the earth” we all said. Now he rents it out to industrial sites for a sum that would have you crying into your beer.
But there is a reality check here.
While we may all wish we had bought two houses before the boom or back in the 90s, that was a time when a 20 per cent deposit was required and interest rates were up around 18 per cent. Remember? It’s all relative. There are plenty of predictions about what might be the next best thing, but what’s hot now?
The answer is Balmoral, still. Looking back at the end of 2013 the RP Data report showed value growth for houses was highest in Balmoral. During this period, the median house value in Balmoral was $830,530 – a growth of 15.2 per cent. Not bad for a suburb that was once farming land.
Now at the end of 2014 RP Data lists the Balmoral median price range (Nov 2014) at houses $1,091,500 renting at $750 upwards per week and units at $539,000 renting at close to $500 per week. A substantial rise for investors and owners alike.
With its café society and restaurants, favourite boutique stores such as Riverbend bookstore, Cineplex cinema, plus parkland and City Cat ferry services, there’s much to offer. It attracts the young professionals; 36 per cent of Brisbane’s 20 to 39-year-olds reside here and a high proportion of them are professionals.Developers also continue to see the light.
Velocity Property Qld is a young boutique development company that currently offers units for sale in some of the hottest streets including Oxford and Princess Street and Hawthorne Road.
Velocity Property Qld’s Arbor on Oxford is selling off the plan now with two-oversized-bed and two-bathroom units from $599,000. It is due for completion in late 2015. Only one unit remains at the Princess Street, Bulimba complex with its amazing city and parkland views.
Velocity Property Qld director Brendon Ansell says with the property market the way it is, he doesn’t expect any of his properties to be around for long. “I’ve never seen better buying conditions than right now,” Ansell says, “and I’ve been operating in the Brisbane market for over a decade.
“Bulimba has a buzz about it – it’s a lifestyle choice,” he says. “Add to this our quality fittings and good design, and you have a desirable home or investment option.”
Don’t miss the boat, or ferry in this case.
You can see Velocity Property Qld’s Bulimba properties at www.velocitypropertyqld.com.au .