Are you looking to purchase a home or investment property in South Brisbane? As a South BrisbaneBuyers’ Agent we’d be happy to help and have compiled the following suburb profile for your information. Best wishes with your South Brisbaneproperty purchase!
South Brisbaneis an inner-city suburb located 1km southwest of the Brisbane CBD. The suburb is best known for its riverside cultural precinct and popular Southbank Parklands.
South Brisbaneis bordered by the suburbs of West End, Highgate Hill, Woolloongabba and Kangaroo Point.
The population of South Brisbanein 2016 was around 7,179 and continues to grow. 32.8% of households in South Brisbaneare owner occupied and consistent predominantly of professional childless couples (20-29 years old).
South Brisbane’s main shopping centre is located on the corner of Boundary Street and Norfolk Road.
Grey Street and South Bank Parklands offer a wide selection of cafes and restaurants.
South Brisbane is the cultural centre of Brisbane, with QAGOMA, Queensland Performing Arts Centre, Queensland Museum and the State Library of Queensland all located in the North-Eastern part of the suburb.
There are many options for residents to get to the Brisbane CBD, which is just across the river. City Cats depart from the Southbank Parklands and take a few minutes to get to the other side of the river. Busses and trains can also take residents to the CBD. A short picturesque walk across one of the inner city bridges, Victoria Bridge or Goodwill Bridge, is a good option as well.
The area is home to a number of great private and public schools including St Laurence’s College, St Joseph’s Primary School, Somerville House, the highly desirable Brisbane State High School and West End State School.
Despite the inner-city location, the suburb has quite a few parks and green spaces with the South Bank Parklands being the most popular and offering walking and cycling paths along the Brisbane River as well as swimming at the man-made Streets Beach. The parklands also have BBQ and picnic areas.
Mater Hospital is the largest employer in the area. Hospitality is another sector providing a large number of jobs.
Units located closest to the Brisbane River and those offering city and river views are most desirable.
Traffic noise can be an issue for properties close to major thoroughfares including Grey Street, Merivale Street, Cordelia Street, Vulture Street and Melbourne Street. Buyers should check the Brisbane City Council Flood Maps, as a large part of the suburb is susceptible to flooding and was inundated during the 2011 floods.
The vast majority (over 96%) of properties in South Brisbaneare units. Newer multistorey complexes with city views and a range of amenities, including rooftop pools, gyms, BBQ areas, movie rooms, libraries and wine cellars appeal to young professional couples working in the city.
The median house price in South Brisbane is $842,500 which is above Brisbane’s median.
The median house price in South Brisbanewould typically buy a 2 bedroom, 1 bathroom house on a 400m2 block and requiring a full renovation. For example: 24 Crown Street, South Brisbane – sold for $825,000 in August 2019 (click to view listing and see images below)
The median unit price inSouth Brisbaneis:$505,000
This amount would typically buy a 2 bedroom, 2 bathroom, 1 garage unit in a newer complex. For example: 42/40-46 Boundary Street, South Brisbane – sold for $500,000 in November 2019 (click to view listing and see images below)
In the last 5 years the median house price has decreased by 12.2%. Over the last 10 years, house prices have increased by 2.1% per annum.
In the last 5 years the median price of units has decreased by 3%. On average, over the last 10 years unit prices have increased by 2.1% per annum.
**Statistics are accurate for April 2019
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