Transcription
Over the last 12 months, there are over 30 suburbs in Brisbane that did more than 20% price growth. In fact, according to Domain, Brisbane is now the second most expensive city in Australia for the first time in our 200 plus year history. And what's crazy is it feels like the city is getting hotter and hotter and going from strength to strength.
Not only is there phenomenal population growth and interstate migration at the moment, but there is infrastructure, jobs, a monster under supply of property, and the coming 2032 Brisbane Olympic Games. Now, with over 30 suburbs in wider Brisbane going absolutely ballistic in the last 12 months, this is actually been the hardest video I've ever had to put together to narrow it down to five of Brisbane's hottest suburbs right now.
Now, the first suburb I want to look at is called Rock Lee, which is just 8 kilometers from Brisbane CBD. And I think it's super super cheap for two reasons. One, parts of the suburb have flooding related issues which nobody wants to go near. And other parts of the suburb have a good supply of units. But there are houses like this absolute little cracking three-bedroom, oneb home that did just sell for 740K. Now, I haven't done a housing commission search on it or a flooding search or had a look what's underneath the ground, but that is phenomenal buying where this house in neighboring suburbs could be selling for as much as $2 million plus.
Right now, what's incredible about Rockley is in the last 12 months, it grew by over 31% and the average house price is at a super low 734,000 bucks. Obviously, with some types of properties selling well below this and some selling millions of dollars above.
Now, the second suburb that I wanted to talk about is Gaythorne, which is another inner city, extremely highquality blue tip suburb of Brisbane, just 7ks from the CBD. Now, in Gaythornne, you've got houses selling for between $1 million up to $3 million. and with everything in between. Now, why I wanted to show you this 4bedroom brand new home that's just sold on 410 m for over $1.7 million is the fact that there's plenty of old crappy looking homes in the suburb with much bigger pieces of land that you might be able to pick up today, ride through the growth cycle, and build one or two extremely highquality properties on it in the future around the time of the Olympic Games to make a significant profit.
Now, according to Domain, in the last 12 months, Brisbane house prices on average went up by over 100K, but I know for a fact that some of the suburbs I've been buying for clients have literally gone up by as much as 200 grand in the last 3 months. On top of this, at the time of recording this video, Brisbane has just gone up for the 11th straight quarter in a row, which is part of the story fueling the consistency and the hype around the Brisbane market at the moment.
On top of this, there was another great article in the Australian Financial Review where seven different analysts looked at Brisbane between now and the 2032 Olympic Games. Now, some of these analysts are expect price in Brisbane, which is currently sitting at just over a million, go to somewhere in the range of $1.4 million over the coming 6 years. On top of this, when I looked at the data between 1997 and 2003 around the Sydney 2000 Olympic Games, we saw that house prices went up by 97% in Sydney during that period and rents almost doubled in the city.
Now, while the Olympic Games is only a small part of the Brisbane story right now, the big piece is the chronic underupp of dwellings and the fact that incomes have jumped so significantly in the last couple of years that they're now almost the highest in the entire country.
Now, obviously, Brisbane isn't just one market. It's a collection of over 420 plus suburbs spread through seven distinct different regions of the city. Now, while in today's video, I'm referring to some of the hottest suburbs in the last 12 months with great medium-term potential for future growth. There are about 16 suburbs in the city that are significantly undervalued at the moment that we help the extremely small number of clients that we take on each week at Pumped on Property to buy.
Now, the third suburb I wanted to talk about today is one of my old faves. We used to buy a lot of property in this area between about 2015 and 2018 back in the good old days of Brrizzy and that is Churnside West, a suburb on the northern side of the city with phenomenal infrastructure just 9ks from the CBD. Now, Churnside West has had an absolute run like some of these other suburbs in the last 12 months, growing by over 22%. And it's a market where you can go in with somewhere between 1 to$ 1.5 million and get phenomenal property.
Now, the fourth suburb I wanted to talk about is a suburb called Burkeale, which is on the southeastern beaches of Brisbane, just 19ks from the city. Now, Burkeale has been on an absolute tear over the last 12 months, going up by almost 30%, and is still one of my favorite suburbs despite the incredible year it's just had for future growth. Now, what I love about Burkeale is it's one of the closest beachside suburbs to the CBD of Brisbane with phenomenal infrastructure and incredible schools like Almston College just around the corner. As you can see, houses like this incredible doublestory 3-bedroom, twob onecar garage, brick and tile renovated home on a monster almost 800 m block can still be picked up for just 1,250k. Now when we compare this property this close to the city to the likes of Krenella or Manley in Sydney or to the likes of Brighton or the southeastern beaches of Melbourne, it is literally 30 cents in the dollar right now and significantly below the replacement value in current market.
Now the fifth and final suburb I wanted to talk about today is West Ipswitch. A suburb just 32ks from the CBD of Brisbane in one of the fastest growing corridors of all of Queensland right now. In fact, IPS which is an area which is earmarked to be the second CBD of Brisbane in the future and is going to go through a massive gentrification over the next 15 years will look similar in the long term to something like Paramata in Sydney.
Now what I love about West Ipswitch is it not only went up over 23% in the last 12 months, but the average house price is just $630,000 today. Now like every market in Sydney, Melbourne, and Brisbane, there's good pockets of the suburbs. There's pockets to avoid. There's properties with housing commission or flooding related issues, and there's properties that are completely sweet. But what I love about this particular property that just sold for 710K is it's a four bedroomedroom home on over 1,400 square m of land. Now, I know many investors are looking for simple, lowmaintenance, tenant ready properties. But obviously properties of this side in markets like this one that might have future zoning changes or have had recent zoning changes could be incredible for the astute investor that not just picks up a great home and fixes it up, but maybe picks up a subdivision or a duplex block at the same time for that future or longerterm value.
Now, the cool thing about Brisbane being such a big city and having the Sunshine Coast on one side and the Gold Coast on the other side is it's not just a city that is growing, but it is surrounded by some of the world's and Australia's most beautiful locations. The fact that it's sunny and beautiful and has such an incredible lifestyle is just one of the driving factors up here on top of the incredible population growth, job growth, lack of supply, and the coming Olympic Games. I think while some of these suburbs have gone on an absolute tear in the last 12 months, there is plenty of incredible value for you investors out there or homeowners out there with budgets in that 700K range through to about the $2 million range to capitalize not just on an incredible coming year in Brisbane, but a long-term future of performance.
Good day, guys. My name is Ben and I'm the director here at Pumped on Property. And I just want to say a massive thank you for watching our content today. Now, if you're thinking about buying an investment property in the next 3 to 12 months, then the team and I would love to offer you a one-on-one strategy session. In that session, we can talk about exactly where you are right now, where you'd like to be longer term, and we can deeply educate you on the Australian market. And then you can take that information and go and absolutely smash it on your own or potentially become one of the small number of clients that we work with each week. To book your session, all you have to do is go to www.pumps pumped onpropy.com and click that book your free strategy session button. But either way, we wish you all the best on your journey as an investor to financial freedom. >> [music]