There is one stand-out factor for property, anywhere in the world, that consistently attracts a premium price tag: the closer you are to water – the higher the property prices.
In Australia, the majority of our population is centred in our capital cities; and the closer you live to the water – be it lake, river, or ideally harbour or beach – property prices increase.
Sydney is well known for its long roster of expensive harbour or beach-side suburbs; buying property in any of Sydney’s eastern suburbs or on the north shore is prohibitively expensive for most.
In Melbourne, from long-established harbour-side suburbs such as Brighton to more recently gentrified suburbs such as St Kilda – being close to the coast demands a premium.
In Brisbane, the most affordable of the major eastern capital cities, riverfront property in suburbs like New Farm and Hamilton remain some of the priciest in the state. However there are some hidden beachside and bayside Brisbane suburbs that are sleeping giants when it comes to “waterside potential”.
When you examine all that comes with living by the water, the price tag is understandable. Expansive blue views, fresh, cooler air and sea-breezes, being able to take a short trip to the beach or relax at a harbour-side café on the weekend – this is a lifestyle that people are willing to pay to enjoy.
Many investors seek out these properties for their portfolios, knowing that with proximity to water comes long-term capital growth. But often, the high price tag these properties attract force investors to look to further-out or inland suburbs. For instance, Sydney’s Maroubra is known for being a beach-side haven within easy reach of the city, but an existing townhouse will set you back well over a million dollars, or around the same price as two new apartments in Brisbane.
Brisbane’s undiscovered ‘bay-side’ lifestyle
With Brisbane tipped by analysts to be the next up-and-coming market, many investors, who are seeking capital growth opportunities, are looking to add this city to their portfolio.
The idea of being close to the water in Brisbane is synonymous with being close to the river. But what are the options for investors who might be unable to afford inner-city riverfront property but still want to target longer-term capital growth?
Less than 15km outside of the CBD, in Brisbane’s eastern suburbs, the Wynnum West locale is a largely ‘undiscovered’ area, which offers the coveted coastal or ‘bay-side’ living without the hefty price tag.
Residents enjoy weekends spent at outdoor cafes, meandering along the bayside enclaves of Wynnum with its beautiful blue waters and family-friendly beach/ocean pool, and the picturesque Manly Boat Harbour – the southern hemisphere’s largest boat facility.
In Brisbane, there is no other area within a 15km radius of the CBD that offers this kind of true coastal experience akin to Sydney’s eastern or northern suburbs. Despite this, it remains lesser known as one of Brisbane’s bayside lifestyle suburbs.
Interestingly, in addition to offering a premium coastal lifestyle, the area also boasts a number of train stations with direct lines to the CBD – unusual for Brisbane, where bus is the main form of public transport.
Queensland’s 2nd largest employment region – the Australia Trade Coast which houses both the Brisbane Port & Airport, is only a short drive away and there are multiple state and private schools and retail in the area as well.
The rising demand of townhouses
The most affordable entry point for any coastal area is likely an apartment, however, in the eastern suburbs Bayside precinct it’s possible to pick up a property with higher land content at an affordable price. Young families, professional couples and even downsizers seek out the easy-care living that townhouses can offer. 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 exciting opportunity for investors looking for a Brisbane property investment with long-term capital growth.
Located just 50 metres from Wynnum Plaza Shopping Centre and across the road from Wynnum West State Primary School is a new townhouse living opportunity – Arbor Park. Made up of 67 architecturally designed homes that centre around lush native landscaping and neighbourhood gathering spaces, residents of Arbor Park 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.
“We’re really excited to be able to recommend these boutique townhomes exclusively to our investors. They’re located just a few kilometres from the biggest boat harbour in the southern hemisphere, a short walk from Wynnum Plaza, close to Queensland’s 2nd largest employment hub and offer true bayside living,” said Ironfish Director, Property & Research, Grant Ryan.
“The quality of the finishes and design in this development is truly unique in this location, and we expect strong appeal – particularly from young families and downsizes.”
Scheduled for completion in 2021, exclusive opportunities in Arbor Park are available to Ironfish customers now. To find out more, click here.
All properties we recommend to our customers are subject to a rigorous selection and due diligence process by our Property & Research team.