Buyers flock to outer suburbs

Is your property located 10km+ outside of Brisbane’s CBD?

Worry not, according to the CoreLogic RP Data Home Value Index for January 2017 suburbs with median house prices under $550,000 located between 15 – 60km from Brisbane’s CBD have experienced capital growth up to 29.1 per cent.

Northern suburbs such as Burpengary East, located 36km from the CBD recorded a 21.8 per cent increase in capital growth with the median house price now sitting at $542,500 while south of the CBD, Archerfield recorded a 12.8 per cent increase in capital growth with a median house price of $389,000.

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REA Group Chief Economist Nerida Conisbee said the fact that these suburbs are seeing really high price growth suggests that a lot of people are compromising.

“Buyers are quite prepared to move some way out of the city now to achieve affordability in the housing market,” she said.

Since January 1, Coronis has received more than 15,500 buyer enquiries across our 22 office network including our outer offices such as Arana Hills, Burpengary, North Lakes, Warner, Springfield Lakes, Forest Lake, Springwood and Coomera.

Is your property outside of Brisbane’s CBD? Find out how your property has performed this past year (31 January 2016 – 31 January 2017) below:

 

 

Download a free comparable report from Core Logic here or for a personalised property appraisal, fill in the form and your local sales specialist will be in touch to organise a time and date to conduct an obligation-free property appraisal.