372 buyers, 1 house: Brisbane’s most in-demand suburbs revealed

Hundreds of buyers are competing for every home listed in Brisbane’s most in-demand suburbs. SEARCH YOUR SUBURB

Upper Brookfield is one of the city’s most in-demand suburbs

HUNDREDS of buyers are competing for every home listed in Brisbane’s most in-demand suburbs, with exclusive acreage pockets maintaining their appeal while staggering numbers also vied for an entry to tightly held city hot spots.

Exclusive PropTrack data shows houses in Chandler were most sought after, with a whopping 372 potential buyers battling to secure a contract of sale whenever a property came to market in the exclusive southeast suburb, which also lays claim to the state’s highest median house price — $3.345 million.

For units, the convenience of inner-city living with a relatively affordable buy-in of $605,000 put Red Hill in front, with 208 potential buyers per listing, followed by Herston and Graceville, with 196 and 175 people respectively.

By comparison, there are typically 80 potential buyers for each individual house listing in the average Brisbane suburb, and 62 for units.

A two-bedroom unit at 6-92 Bovelles St, Camp Hill is for sale for offers above $495,000

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Houses for sale in semi-rural Clear Mountain attracted an average of 320 buyers, while 285 people competed per listing in centrally located Herston.

Rounding out Brisbane’s top 10 most in-demand house markets were:

Gumdale, Fortitude Valley, Upper Brookfield, Camp Mountain, Closeburn, Burbank and Albion.

PropTrack measured potential buyers by the level of “high” engagement on realestate.com.au listings.

PropTrack economist Angus Moore

Factors used to determine buyers with genuine interest were contact with the agent, email inquiries, link and social media shares and return visits, among other indicators.

PropTrack economist Angus Moore said the suburbs with the highest number of potential buyers per listing were generally those with a shortage of new listings for a prolonged time.

“This meant the fresh property listings were often snapped up in quick time and the higher competition pushed up the prices,” he said.

“There’s been such strong demand in many of these areas for years that all the available supply has been soaked up and theren’t aren’t many homes available.

“In some cases, there’s no evidence things are improving and the few properties that do come up for sale sell quickly because there is so much competition.”

This sprawling property at 496 Boston Rd, Chandler is marketed via an expressions of interest campaign

Joseph Lordi, of Chapter Estate Groups, is marketing a European-style mansion on a 1ha lot on Boston Rd, Chandler and said “demand greatly outweighs supply” of available properties.

PropTrack data shows just 12 houses listed on realestate.com.au were sold in the suburb in the past year, while Mr Lordi said some transactions were conducted off market.

“I believe the demand is so great because Chandler is only 25 minutes from the CBD and is the closest acreage suburb to the city,” Mr Lordi said.

“But it is also the value that area represents to people who may sell their house on 500sqm in the inner city, and buy an acreage property with a big home, a tennis court and a pool for the same sort of money.”

An apartment at 24/16-24 Lower Clifton Tce, Red Hill going to auction this week

The buyer demographic was a mix of young and established families and cashed-up owners downsizing from sprawling parcels in regional Qld, while the suburb’s housing mix was split among cheaper homes in floodprone areas, mid-range houses on large lots, and prestige estates with multimillion-dollar price tags.

Albion was one of the more affordable house suburbs on the list, with a typical buy-in of $1.19m — up 12 per cent over the past year.

Nick Kouparitsas, of Ray White Clayfield, said the area was gaining traction with young professionals who may currently rent or rent in pricier markets such as Newstead, Fortitude Valley or New Farm.

Joseph Lordi

It provided easy access to the CBD via rail, bus or bike, and was a hub of new infrastructure ahead of the 2032 Brisbane Olympics.

“A much younger demographic is now buying in Albion, but there are also older existing homeowners who are quite comfortable,” Mr Kouparitsas said.

“We are talking to people who are considering selling but equally there is not much turnover of property in the area as a lot of homeowners are happy to stay where they are, so for most the decision on when to list will come down to their desire for lifestyle change — upsizing, downsizing or relocating.”

15 Grove St, Albion is going to auction on September 12

BRISBANE’S TOP 10 SUBURBS WITH MOST POTENTIAL BUYERS PER LISTING

[Houses]

Chandler 372

Clear Mountain 320

Herston 285

Gumdale 275

Fortitude Valley 247

Upper Brookfield 246

Camp Mountain 233

Closeburn 230

Burbank 228

Albion 228

[Units]

Red Hill 208

Herston 196

Graceville 175

Wilston 174

Hendra 169

Camp Hill 164

Gordon Park 158

Holland Park West 158

Salisbury 157

Wooloowin 150

*source: PropTrack