Brisbane's Bridesmaid Suburbs Getting Snapped Up
Image by Kgbo, CC BY-SA 4.0, via Wikimedia Commons
The key to making a wise property investment is research. There are so many different suburbs to choose from across Brisbane and some of the historical Brisbane Bridesmaids Suburbs are finally getting the attention. Is it deserved?
There is risk involved when it comes to purchasing a bridesmaid suburb because sometimes the surrounding areas are more expensive for a reason. You need to check the flood zones and weigh that risk, consider whether there's an asbestos mine, prison, or something else nearby that devalues properties in that suburb.
Brisbane Bridesmaid Suburbs
Sherwood is a bridesmaid surrounded by brides, but with properties getting snapped up like crazy, she might make a beautiful bride after all. The median house price in Sherwood is $1.5 million and change, a whopping 25.5% increase in the last 12 months. Unit prices are also on the rise, and it's not difficult to see why. Sherwood is stunning, with riverfront properties and plenty of green spaces. It is an area known for flooding, so that's something to be aware of as you house hunt.
Fitzgibbon is usually overlooked for the likes of Aspley and Carseldine, but now the sun is shining on her property ladder. It has plenty of greenery and affordable homes, with data from realestate.com.au showing a median house price of $735,000, up 14% this year. It's relatively new compared to other suburbs in the area, which should mean fewer building issues, but always follow through with an inspection to be sure.
It might not have been your first thought in the past but Oxley is finally getting her flowers. The median house price in Oxley has risen by 24% in the last 12 months, now resting comfortably at just under a million dollars. The median unit price has also risen more than 20%. With a population of fewer than 10,000, it has plenty of room to grow. Oxley is also known for heavy flooding, so it's important to keep that in mind when you're looking at houses – keep your eyes peeled for telltale signs of flood damage like bubbling paint, peeling paper, and musty smells.
Follow Through
There's nothing wrong with looking outside the most popular suburbs; it's the best way to bag a bargain. The key is to ensure the property lives up to the hype.
Consult the First Home Buyer's Handbook before you make your purchase and be sure to book a building inspection to determine whether your investment is sound. The only way to ensure you're buying a home with good bones is with a thorough building inspection and a pest inspection to ensure there are no infestations.
