Something very interesting has been going on In our local area. Since interest rates have started to move up we have seen a decrease in property prices. This has been going on for 12 months now. Everyone knows that.
What it means is that some suburbs have become great opportunities for wise investors.
This becomes even more obvious when we study median prices in suburbs and then compare them to the neighbouring suburbs.
It is for this reason that we are declaring Everton Park and Everton Hills as the Best Investment Suburbs on Brisbane’s northside in 2023.
Take a look at these numbers.
Everton Park, which is just 8km from the CBD and close to the airport, great schools and hospitals, has a median house price of $886,865. Next door Everton Hills (still only 10km from the CBD) has a median house value of $868,000.
A factor that many property investors take into account is what is the potential for capital growth when they are considering a property investment. One way to look at this is to consider the neighbouring suburbs.
If the neighbouring suburb has a high median value it stands to reason that the next one will catch up over time.
What we are seeing with Everton Park and Everton Hills is a classic case of this. With all the neighbours with significantly higher median prices.
North of Everton Park and Everton Hills
Take the 2 suburbs to the north of Everton Park and Everton Hills, and remember that these suburbs are further from the CBD. Bridgeman Downs enjoys a median property value of $1,275,00. Almost $400,000 more.
This gap is even wider for Bunya which has a median value of $1,600,000.
South of Everton Park and Everton Hills
What about on the southern side of these 2 suburbs, well Enoggera at $1,187,500 and Alderley with a median value of $1,220,000, both are priced well above Everton Park and Everton Hills.
East of Everton Park and Everton Hills
We see a similar situation in the east as well. McDowall (once a Million dollar suburb) now has a median house value of $980,000, about $100,000 higher than the Everton suburbs. A little further to the east we run into Kedron at $1,100,000 and Wavell Heights at $1,150,000.
We have looked at a lot of numbers, but what does it all mean? Well, people are currently spending larger amounts of money on houses in the suburbs all around Everton Hills and Everton Park. The higher the prices are in these nearby suburbs the more attractive the comparatively lower median prices are in Everton Park and Everton Hills.
When people are investing $100,000 to $700,000 more in the next suburbs you know that the smart property investors are starting to catch on to this information as well.
Recently the High School has received a massive upgrade and our notorious roads have been improved as well, so locally we are looking good. The bigger picture includes the Olympics in 2032 which will continue to drive demand for properties close to the CBD.
We recently wrote about Property Developers are Looking for your Large Blocks and Everton Park rental squeeze and population surge collide as we firmly believe that there are a lot of factors indicating good times ahead for our local suburbs.
Not all real estate agents know their local patch as much as the team at Hicks Real Estate. If you are looking to Buy, Sell or Rent then you should talk with the experienced property people at Hicks Real Estate.
Who you work with matters!