Indooroopilly
Indooroopilly is a riverside suburb west of Brisbane, Queensland. With property in Brisbane and surrounding suburbs set to double in value over the next decade, investing in Indooroopilly sound and calculated decision.
According to realestate.com.au, median property prices over the last year range from $1,277,500 for houses to $485,000 for units. Houses in Indooroopilly rent out for $550 per week, with an annual rental yield of 2.2%. Units rent for $440 per week, with a rental yield of 4.7%. Based on five years of sales, Indooroopilly has seen a compound growth rate of 9.0% for houses and -1.4% for units.
Brisbane’s median house price of $678,000 is less than half of Sydney’s and on par with that for Adelaide and Hobart. Yet by the time the 2032 Olympic Games come to Brisbane, the median house price is forecast to double to $1.5 million. Data from CoreLogic shows the city’s annual housing value growth at 18.4%. The most significant positive influence on the housing market is likely to be seen in the years leading up to the Olympics, rather than during the 4 weeks of the Games themselves.
Market Trends
This table represents median property prices in Indooroopilly, providing you with an overview of how prices have fluctuated from October 2020 to September 2021.
According to Tim Lawless from CoreLogic, "Large infrastructure projects tend to have a positive influence on housing prices, with the extra requirement for workers creating additional demand for housing during the construction process. Large projects also tend to leave a legacy of a permanent housing demand uplift, either through additional employment or via other benefits such as improved transport options and travel efficiencies related to transport infrastructure projects as well as additional amenities introduced to the area including social and retail outlets."
Furthermore, Brisbane ranked the third-fastest city nationally in August at 2%, behind only much smaller markets in Canberra at 2.2%, and Hobart at 2.3%. Brisbane real estate agent Col Kelaart recently commented, "For now at least, if you're coming from another capital city to buy in Brisbane, you'll have plenty of change left in your pocket, but the figures will almost certainly double by 2032…”
Population
The population of Indooroopilly was 12,242 people (according to the 2016 Census).
Furthermore, Brisbane is projected to remain the most populous LGA in Queensland, increasing from 1.18 million persons in 2016 to between 1.48 million and 1.64 million persons by 2041.
In conclusion, housing markets in Brisbane and surrounding suburbs are expected to boom over the next decade. The planned infrastructure upgrades taking place to accommodate the 2032 Olympic Games are set to increase interest in Brisbane and surrounding areas. With housing prices set to double in Brisbane over the next decade, investing in Indooroopilly is a sound decision.
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