Moss rolls out new company

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The best Brisbane suburbs to invest in now for long-term growth

first_imgAndrew and Sandy Stylianou recently sold their home of 18 years at 36 Gloucester Rd, Highgate Hill, for $1.3m. Photographer: Liam KidstonMr Kalaja has another house for sale at 60 Gladstone Road, which is also expected to attract a seven figure sum.Owners Tony and Damira Shea have lived in the property for just under a decade and have seen the house’s value grow, along with their children.More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor2 hours agoBut they’ve decided to downsize now the kids have flown the nest. This property at 91 Falkland St, Pallara, sold for $2.54m. Picture: old house on 16,190 sqm at 91 Falkland Street, Pallara, sold 12 months ago for $2.54 million, while a proposed new four-bedroom home in a new estate called Prominence sold off the plan last month for $609,100. Tony and Damira Shea are selling their house at 60 Gladstone Rd, Highgate Hill. Photographer: Liam KidstonLOOKING for a long-term investment? Then these are the suburbs where you should park your money in property and watch it grow.There are 67 suburbs in the greater Brisbane region where the median house price has grown by more than five per cent each year for the past decade.That’s better than the four per cent average house price growth Brisbane experienced in 2016.The top suburb for long-term housing growth might come as a surprise.According to the latest CoreLogic figures, Pallara, 17km south of Brisbane’s CBD, saw 9.1 per cent growth in its median house price each year on average for the past decade.GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOXThe little-known suburb is emerging as the next housing hotspot after experiencing phenomenal price growth in the past 12 months of 35.8 per cent.Prices in Pallara have gone through the roof after a recent rezoning, with the median house price now sitting at a cool $1.63 million — the second highest in greater Brisbane after Teneriffe.But you won’t find luxury homes here — not yet anyway.The majority of the sales recorded in the past year have been for proposed new builds in new housing estates or rundown established homes on large parcels of land, which developers including Stockland have snapped up for residential development.From hovel to the HamptonsTardis house — 14 rooms in this!Triple-storey haven to spread out This property at 24 Hayden St, Nudgee, is for sale. Picture: little closer to the CBD, Highgate Hill is good investment material.John Kalaja of Harcourts just sold an old brick house at 36 Gloucester Street, Highgate Hill, at auction for $1.3 million. It last sold in 1999 for $290,000. It was an emotional time for owners Andrew and Sandy Stylianou, who had loved living in home for the past 18 years, but they were happy with the sale price. This home at 7 Mitcham St, Gaythorne, has sold within a day of listing. Picture: Smith said an investor from Abu Dhabi paid $20,000 more than the asking price for the property with the intention of keeping it as a long-term holding.He also had a call from someone in China who was keen to buy it, but missed out.“It’s a pretty popular little area,” Mr Smith said.“A lot of investors are buying and landbanking for future developments.”The suburb was also still very affordable, with a median house price of $650,000.Other suburbs which have seen above average annual price growth over the past decade, according to CoreLogic, include West End, Coopers Plains and Holland Park. This home proposed for 40 Ritchie Rd, Pallara, has sold for $609,100. Picture:, 7km north of Brisbane’s CBD, has seen the second best capital growth in the past decade of 7.7 per cent annually.A beautiful four-bedroom home at 24 Hayden Street is currently for sale in the suburb, which is within walking distance to public transport and local amenities.Ray White marketing agent Dwight Colbert said the area represented great value and contemporary, architecturally designed houses like this one rarely became available. TOP 10 SUBURBS FOR LONG-TERM GROWTH1. Pallara $1.630,000 9.1%2. Nudgee $650,000 7.7%3. Highgate Hill $1,194,000 7.6%4. Gaythorne $798,500 7.4%5. West End $1,100,000 7.0%6. Coopers Plains $590,000 6.6%7. Holland Park $737,250 6.6%8. Norman Park $880,000 6.5%9. Holland Park West $685,000 6.5% 10. Robertson $1,077,500 6.5%(Source: CoreLogic) This property at 60 Gladstone Rd, Highgate Hill, is for sale. Picture: Hill has experienced average price growth of 7.6 per cent each year for the past 10 years. “We weren’t really thinking about it as an investment at the time — we just thought it was a lovely, big family home,” Mr Shea said.“I think it has been a good investment but that wasn’t why we bought it.” This home at 60 Gladstone Rd, Highgate Hill, is for sale. Picture: six-bedroom, four-bathroom colonial home is perched on a hill on a 599 sqm block, offering panoramic views of the city. “It’s a lovely old Queenslander with big high ceilings and we’ve got great views,” Mr Shea said.It’s also just 2km to the CBD, walking distance to Southbank and the University of Queensland and sits within the Brisbane State High Catchment.Highgate Hill has a median house price of $1.194 million.Gaythorne, 7km north of the CBD, has had the next best annual median house price growth in the past 10 years. Zak Smith of Raine & Horne recently sold a post-war home near the train line at 7 Mitcham Street, Gaythorne, within a day of listing it.last_img read more