You knew you were getting a good deal, and perhaps you’ve always suspected that sooner or later the rest of Brisbane would discover your neighbourhood. Then boom – you’re sitting on a gold mine!
But more than a hunch, how can you know for sure you’ve bought in hot spot?
It’s a question we get asked a lot. So here are #4 signs that you’ve made a savvy purchase.
- Urban renewal
An influx of hipsters could mean your once daggy suburb is undergoing a facelift. A mini explosion of cafes, houses under renovation and increasing numbers of young residents are sign that your old suburb is new again. Think of the dramatic turnarounds we’ve seen in suburbs like Tenneriffe, Stafford and Zillmere.
- Ripple effect
If you were priced out of a hotspot, perhaps you bought in a surrounding suburb. We say, good move. If you bought within a 10km radius of the CBD you’ll find yourself effortlessly riding a wave of prosperity during the next boom. You might have been riding it already if you’ve seen a 5 per cent median price variation to the adjoining high growth suburb.
- Supply and demand
Established suburbs with limited capacity for new housing means there is likely to be greater demand for limited stock. Couple this with rental popularity (you’ll spot this in a rising rental yield) and a median age of 35 years (we’re talking cashed up buyers with a reno budget) and you have reason to feel optimistic. Think of suburbs like Wilston, the Grange or Gordon Park.
- Infrastructure projects
People need jobs, so major infrastructure projects like Queens Wharf in the CBD and Northshore at Hamilton are signs that workers, with housing needs, are present.