Brisbane’s highest growth suburbs

first_imgLuke Short and Michelle Dent with their kids Jet Short, 4, and Zavier Short, 11 months, in front of their Milton home. Photo: Liam Kidston.How would you like to see your wealth increase by more than a year’s wage without doing any extra work?If you own a home in Ascot, Wilston or Auchenflower, then you’ve achieved just that, according to analysis by company identified Brisbane’s top ten suburbs for house price gains over the last financial year based on CoreLogic data.Brisbane’s Top Ten capital growth suburbs for the 2016 financial year.In each case, the suburb’s median house prices rose in excess of Australia’s minimum annual wage of $36, chief economist, Nerida Conisbee, said Brisbane saw only modest price growth last year, but some suburbs have done better than others.“There are some locations that are clearly outperforming the rest of the market,” she said.Ms Conisbee highlighted the strong result for Teneriffe which saw its median house price increase by $1300 a day during the period.“$1300 a day is a pretty amazing increase and it’s well above what’s happening to people’s wages. Their homes are very good earners for them.”She said buyers showed confidence in inner city addresses like Ascot, Wilston, Auchenflower and Milton.“Those capital growth suburbs are very, very popular suburbs and they are already pretty expensive so it does make that percentage increase even more significant when you look at it on dollar-by-dollar terms,” she said.Ms Conisbee cautioned, however, the results could be influenced by factors such as proportionally more expensive or new home sales during the year, or a rise in development site sales in a suburb.“Sometimes if there’s a new housing development that can make a bit of a difference and you can get a really big uptick in prices. So you do have to be careful,” Ms Conisbee said.For example, Willowbank south of Ipswich recorded the highest gain at 29.09 per cent for the year, however among the 21 sales recorded by CoreLogic, there were several acreage properties including two transactions of over 20 hectares.Ms Conisbee said blue-chip Brisbane addresses were safer havens for investors, despite their high buy-in prices.More from newsMould, age, not enough to stop 17 bidders fighting for this home3 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor3 hours ago“If you buy in those good suburbs there’s always going to be solid demand provided there’s not a major change to the area. It shows buying blue chip when you look at property, and look at property long-term, is always a good strategy.”Ms Conisbee said her outlook for Brisbane remained bullish as long as jobs growth continued for the capital.Place West director, Tim Douglas, said the inclusion of an inner-city suburb like Milton was no surprise with strong demand from families for housing.“The market is moving along quite nicely,” he said.“Certainly your driving factor is young families. Busy double-income families want to be in close proximity to all of those amenities.”Luke Short and Michelle Dent are selling their home at 28 Nairn St, Milton and were pleased to see their suburb among the top performers.The couple bought their renovated circa 1900 home five-years ago. It’s a classic professional family home offering high quality finishes and plenty of space, all in close proximity to the city and cool inner-west facilities.Mr Short said he loved Milton because of the easy commute.“I am impatient in traffic. I want to get to work quickly in the city,” Mr Short said.“It’s obviously close to all the trendy cafes and I’m a mad Broncos supporter and member … 400 metre walk to the stadium,” he said.Mr Short said although he was confident in Milton’s housing market, he was surprised by its runaway growth.“19 per cent, that’s massive isn’t it? It’s sort of what Melbourne and Sydney are getting,” he said.Follow Kieran Clair on Twitter at @kieranclairlast_img read more