In Australia’s capital cities, where the majority of us live, the closer you are to the water – be it lake, river, or ideally harbour or beach – property prices increase.
In Brisbane, there is only one area that is both close to the CBD and offers the same kind of true coastal experience akin to Sydney’s eastern or northern suburbs. Less than 15km out of the city in Brisbane’s eastern suburbs, the hidden coastal area of Wynnum offers coveted bayside living and is a sleeping giant when it comes to “waterside potential” for capital growth.
Attracting new residents
The Wynnum area is attracting an increasing number of residents drawn to the relaxed coastal vibe and many urban conveniences.
“My husband and I will be settling down here to raise our family,” says resident Lisa Williams. “It’s a gorgeous part of the world and has a relaxed, community vibe which we love.”
As busy professionals, access to the city and airport was a key factor for Lisa and her husband. Wynnum delivers. “The commute to both Brisbane City or the Gold Coast a breeze. It’s a quick 20-minute drive over to the airport gateway. And there are great public transport options with an express train to the City from Manly station.”
Brisbane property tipped for growth
Brisbane has been tipped by analysts, such as BIS Oxford Economics, to be the next up-and-coming market, with many investors across the country looking to add this city to their portfolio. Those chasing higher capital gains snap up properties located close to the coast, knowing that over time these properties traditionally outperform those in-land in terms of price growth. However, these properties also tend to be very expensive – forcing many buyers to purchase further out.
The most affordable entry point for any coastal area is likely an apartment, however, in Brisbane’s eastern suburbs it’s still possible to pick up a property with higher land content – such as a new townhouse – at an affordable price.
The rise and rise of townhouses
In recent years, townhouses have soared in popularity, attracting a wide range of buyers and tenants. Young families, professional couples and downsizers all seek out the easy-care living that townhouses can offer, with more outdoor space than an apartment and more affordable price point compared to a house. It’s a rising property trend in Brisbane, and Wynnum West is no exception, with townhouses in high demand.
Approximately 21% of dwellings in Wynnum West are townhouses, compared to only 10% in Greater Brisbane, however in the last 2 years only 3 multi-dwelling DAs for townhouses have been approved in Wynnum West, putting this high-demand housing option in short supply. This is not anticipated to change anytime soon, with the Brisbane City Council progressing plans to stop townhouse developments in low-density zoning.
Restricted townhouse supply in the area coupled with their strong popularity signal an opportunity for investors looking for a Brisbane property investment with long-term capital growth.
“This is an area we’ve been keeping an eye on for a while. In Brisbane, when people think about water, they typically think river. So in that sense, the Wynnum area is still largely undiscovered; there’s a beautiful beach, the biggest boatharbour in the southern hemisphere, and it’s close to Queensland’s 2nd largest employment hub,” said Ironfish Director, Property & Research, Grant Ryan.
“That’s why we’re quite excited to have identified ‘Arbor Park’ – a boutique townhouse community in Wynnum West, that can take advantage of all that comes with the bayside lifestyle along with being just a short walk from the shopping centre, good schools, parks and transport.”
Arbor Park – boutique townhouses
Made up of 67 architecturally designed homes that centre around lush native landscaping and neighbourhood gathering spaces, residents of Arbor Park will enjoy a sense of community. The homes have a bright, modern feel to complement their bayside setting, and floorplans that maximise light and encourage cross-flow to let the sea breeze in.
With a range of 2, 3 and 4 bedroom townhouses, Arbor Park is set to benefit from the best that the eastern suburbs bayside precinct has to offer, at an affordable price point, starting from $469,000.
Ironfish customers have preferential access to Arbor Park townhouses. Not yet available to the rest of the public, if you’d like to learn more, enquire here and one of our team will be in touch.