Brisbane’s property market continues to fire with almost a dozen suburbs hitting double digit price growth

first_img36 Kennedy Tce, Paddington. Picture: realestate.com.au“It is safe, I think the most important thing for us is it safe, considering it is so close to the city, you don’t really have any problems here at all.“It is a really great family, friendly area that is so close to the city you could actually walk to town if you wanted to.’’Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:28Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:28 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels576p576p480p480p320p320p228p228pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenBrisbane market wrap up02:28Mr Lomas said he had noticed that properties were selling well in the suburb lately.“This is a booming market everybody wants to be here,’’ he said.The figures showed that Brisbane now had 18 suburbs with a median house price of $1m or more, with Teneriffe the highest at $2.325 million.With few houses in that inner city suburbs, it has recorded a number of significant sales including a five-bedroom house at 32 Teneriffe Drive, which sold at auction last weekend for $4,405,000.More from newsParks and wildlife the new lust-haves post coronavirus18 hours agoNoosa’s best beachfront penthouse is about to hit the market18 hours ago32 Teneriffe Drive, Teneriffe.Outside of Brisbane coastal markets continued their strong run with the Sunshine Coast in particularly continuing to fire.Minyama chalked up the highest median house price rise in Queensland for the year, with the median up 43.9 per cent to $1.275 millionOn the Gold Coast, Tallebudgera Valley was the best performer in the past year with its median house price up 27.3 per cent to $1.050 millionFor the remainder of the state, Boonah in the Scenic Rim was the best performer with its median house price up 20.8 per cent to $314,000.BRISBANE SUBURBS WITH DOUBLE DIGIT GROWTHINDOOROOPILLY: $1,010,000 – 24.1%SEVEN HILLS: $920,000 – 18%ASHGROVE: $1,026,500 – 16.6%BULIMBA: $1,297,500 – 14.3%SUNNYBANK: $820,000 – 14.2%WOOLOOWIN: $849,500 – 13.3%KALINGA: $1,127,000 – 12.7%LUTWYCHE: $850,000 – 12.4%TENERIFFE: $2,325,000 – 10.7%SHORNCLIFFE: $807,500 – 10.5%ROCKLEA: $425,000 – 10.4%Source: REIQ Market Monitor (year to March) Paul Lomas at the house he is selling at 36 Kennedy Tce, Paddington. Picture: AAP image, John Gass.BRISBANE’S property market continues to fire with almost a dozen suburbs hitting double digit price growth in the past 12 months.The median house price in the Brisbane local government area rose to a record $670,000 in the March quarter, up 3.1 per cent on the previous year.But there were plenty of suburbs – 68 – which far exceeded that level of growth.The best performer in the past 12 months according to the Real Estate Institute of Queensland’s latest Market Monitor was Indooroopilly where the median house price increased by 24.1 per cent to $1.01 million.The best performer in the March quarter was Paddington where the median house price rose 19.8 per cent to $1,269,500.MARGOT ROBBIE’S SECRET WEDDING ESTATE FOR SALEJudi O’Dea of Space Property Agents, said the suburb had really come into its own in the past couple of years and she predicted continued strong price growth.She said a lot of money had been spent on renovating homes in the suburb in the past two years and that was now paying dividends.THIS HOME TAKES SPOONING TO A WHOLE NEW LEVELMany parts of Paddington had city views and contemporary houses, but a lot of the attraction was the community feel and closeness to the city.Paul Lomas and his family moved to Paddington 11 years ago and bought their current house at 36 Kennedy Tce, three years ago.They have listed the house for sale, but Mr Lomas said they would definitely stay in the area.“We moved to Australia 11 years ago and we came straight to Paddington because it was close to the city and we have been here ever since,’’ he said.last_img

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