What your money buys in Brisbane’s inner city
Thinking it might be time to make a change, or putting a toe in the water for your next investment? With thousands of properties on the property portals there can sometimes be too much info. Great when you know exactly what you’re chasing. But for that short, ‘helicopter view’ of the inner-Brisbane market here’s some ideas:
Yes there’s plenty of real estate in this range and you don’t need to be looking in the outer ‘burbs. It’ll include a good choice of CBD one bed apartments, usually without a carpark, and of course as you move further from the city the choices expand. The 2km radius (suburbs like South Brisbane, Milton and The Valley) sees space improve, carparks included as standard, maybe something a little more modern. And as you near the 5km radius there’s a scattering of 2 bed apartments, maybe a little tired but there’s plenty of renovation opportunity in those 70’s and 80’s walk-up brick buildings.
Near-city studio apartments are on offer for under $300k that include city and river views. Keep in mind a studio has combined living and bedroom areas, some are tiny, some surprisingly easy to live in. And if location is important (is it not important for anyone?) they can be a magic solution for a handy Brisbane crash pad or a high-yielding investment. Tenants love them and we often see $400 per week for places sold in the $200,000’s.
The busy part of inner-Brisbane real estate. It’s no surprise more than half of inner-Brisbane property is medium and high density (usually apartments) and the majority are 2 bedroom. And most of them are within an easy reach of this price point. Take your pick of 2 beds with ensuites throughout the inner-city. You’ll get plenty of change from $500k for those with compromised views (agent talk for an outlook onto a rail line or major road!) or closer to the 5km mark in Taringa, Clayfield or Annerley.
If you’re happy to do without the ensuite half a million will buy a 2 bed apartment in the CBD with good river views. You’ll also have some older houses on your list, albeit needing major work if they’re 1-2km from the CBD. Smaller houses and some location-challenged ones will also sell for $500k, but you won’t need to spend much more to find a tidy house in places like Lutwyche, Morningside or Greenslopes.
Vacant land also sells around this price in near-city suburbs if you can find it.
Remember when being a millionaire used to be something special?! Real estate agents will still pick you up in their European car for your $1m viewing, but the choices aren’t what they used to be. Premium apartments with 3 beds and the best views of river and city. Good near-city houses, not usually the ones with views of twinkling city lights, but good sizes and condition and in streets you’ll be proud to call home. Choose from spacious Queenslanders on bigger lots in Wilston and Norman Park or modern, in-fill contemporary houses on 405m2 in suburbs like Red Hill and Bardon.
Brisbane’s inner-city has changed substantially in the past decade and our housing choices continue to expand. For those of you starting to wonder why you’re stuck out in the burbs with your 40 minute commute, 2013 might be the year to get amongst the rich tapestry of life on offer in our near-city suburbs!