With family-friendly, near CBD suburbs at the forefront of price growth, Ellendale is well-placed to ride the wave, with its perfect location catering to a range of lifestyles, within proximity to schools, childcare centres and parks.
In May the Brisbane median house value hit $641,727 – its highest ever result – after rising by 2.2 per cent, according to CoreLogic data.
So, is now the time for you and your family to step into the Brisbane housing market? What will it look like in 10 years?
Below we examine the River City’s market fundamentals to explore if, as Brisbane heads closer towards the 2032 Olympic Games, its future is gold.
Rising Market
Brisbane’s housing market has some way to go, according to forecasting from the big banks.
Commonwealth Bank forecast earlier this year that house prices in Brisbane could rise by 16.6 per cent for the two years to December 2022.
CoreLogic’s Head of Research Tim Lawless recently explained that in addition to the hot market conditions putting upwards pressure on pricing, the 2032 Olympic Games is also expected to play a part in heightened future house prices, in the years leading up to the momentous event.
Mr Lawless wrote it is partly due to the workforce required for large infrastructure projects fueling demand for additional housing.
He said the positive effects on the market, while gradual, are likely to involve significant infrastructure upgrades, a medium-term uplift in jobs and improvements to transport.
Housing Supply
Another indicator of future growth is supply, which remains well below average in Brisbane, according to Mr Lawless, also effecting the growth in prices.
Values are showing a clear upward trend across Brisbane, including Upper Kedron, where the master planned Ellendale community is located. Land prices in Upper Kedron surged 7.4 per cent between January and April this year – well above Brisbane’s growth rate of 4.1 per cent.
Internal Migration
The long-term trend of migration from New South Wales and Victoria into Brisbane and Queensland was positive well before COVID-19 came along.
According to the Australian Bureau of Statistics between 2019 and 2020 Brisbane’s population grew 1.9 per cent, which was the strongest growth rate of all capital cities.
This year, Queensland gained more than 7,000 people in the March quarter from migration, the most of any state, compared to net losses for Victoria (which lost –4864 residents) and New South Wales (which fell by 4,463).
Brisbane also offers a warmer climate as well as relative housing affordability, especially compared to Sydney and Melbourne, and those factors are proving a winning formula for population growth.
Why is this important? Because strong net migration and population growth underpins a robust economy, which in turn supports a thriving housing market, according to this article from the Real Estate Institute of Queensland.
Choosing Your Suburb
So, we can see from the above points that the foundations of the Brisbane housing market are strong and likely to stay that way due to strong demand, internal migration and the upcoming Olympics.
But what are the other key considerations when buying?
Amenity comes top of the list for buyers, and as can be seen from the following list, Ellendale has that in spades.
The estate is located 12 kilometres from the Brisbane CBD
Ellendale has ideal green credentials for those looking for a ‘tree change’. Features include premium homesites and tree-lined streets nestled amongst 91 hectares of nature corridors and recreation space.
Families are well catered for with parklands and a playground with state-of-the-art play equipment all linked by a series of walkways and bikeways not to mention barbecue areas and scenic lookout spots
Ellendale is home to a newly-opened C&K childcare centre and is within two kilometres of three schools
Shopping choices are a short drive away and include Ferny Grove Shopping Village and Great Western Super Centre Keperra. There is also easy access to the Ferny Grove Rail Station.
For more information or to register your interest for upcoming land releases at Ellendale, visit the Ellendale Sales Centre, open Saturday to Wednesday from 11am to 4pm at 324 Canvey Rd in Upper Kedron or call 1300 720 858.