Greenslopes is flexing its potential for growth following its strong performance within the 12-month period ending June 2021, as soaring buyer demand in Brisbane’s red-hot property market continues despite the pandemic.
House Price Growth
Figures from Property Market Updates reveal that between July 2020 to June 2021, the median house price in Greenslopes has risen to $900,000 from $790,000 in the previous year, reflecting a 13.92 per cent growth which has kept this suburb on the list of Brisbane’s top performers.
The Greenslopes property market has been flexing its high growth potential in recent years as the median house price continues to rise annually, to its present level in 2021 where the house prices have risen more than the average wage per year.
On average, house prices from 2018 to 2021 have risen by approximately $90,000 annually. The median income of Greenslopes residents is between $60,000 to $70,000 per annum.
Buyers who want access to high-demand suburbs pick Greenslopes for a better return of investment and value for money, considering it a still more affordable alternative to neighbours like Camp Hill and Coorparoo.
113 houses sold in this time period after an average of 62 days on the market. Buyers compete for two and three-bedroom houses but the highest-selling house stands on an elevated allotment on Henzell Terrace, one of Greenslopes’ most exclusive family-friendly enclaves, for $3,300,000.
The renovated 1922 home with six bedrooms offers beautiful suburban views and a modern aesthetic. It is within the catchment of the Greenslopes State School and Cavendish Road State High School.
Unit Price Growth
A majority of Greenslopes residents are renters who work at the hospitals in the area, or in nearby inner-city suburbs like South Brisbane, West End, or Woolloongabba. With strong rental demand, buyers are keen to purchase units with high prices for investment purposes. Thus, it’s no surprise that Greenslopes’ unit property growth grew by 11.26 per cent in the period ending June 2021, with 196 units sold.
The current median unit price is now at $405,000, up from $364,000 last year. Units are quick sells on the market for an average of 45 days.
About Greenslopes
Being close to the motorway brings convenience to Greenslopes locals, which makes this place one of the easiest choices for home buyers and investors. Filled with a mix of old homes, modern houses and apartment blocks, this leafy locale close to the city — but still quiet and peaceful — attracts young families, professionals, or downsizers and retirees.
A former farming town, Greenslopes has risen to be one of the more popular and sought-after suburbs in Brisbane by investors, especially with the revitalisation of Stones Corner. Families love this suburb for its great choices of quality schools, a number of sporting clubs and community hubs, and generous green spaces like Hanlon Park and Ekibin Park. The shopping precinct has a variety of retailers with convenient parking and easy transport access.
Greenslopes is also home to some of Brisbane’s major hospitals with excellent medical care, such as The Princess Alexandra Hospital and Greenslopes Private Hospital. The hospitals are two of the suburb’s biggest drawcards, driving up the median prices.
“Excellent accessibility to public transport, bikeways and motorway. Lots of green space and playgrounds for kids. Great local community full of diversity thanks to the many different property types – older units, new units and lots of young families. Local park run and walking groups and awesome cafes and access to shopping such as Aldi, IGA and Coles. We’ve been here 13 years and love it!”
ChristineBM
“Public transport is close by, as is access to the SE Freeway. Greenslopes Mall has Coles and take away shops. People are friendly. Lots of families and professionals. I like it.”
Ryant12
“My partner and I purchased our first home in Greenslopes in Dec 2018. We were drawn to the area for the value for money, proximity to the city and motorways and potential for stones corner to become a cool bar, dining and shopping hub. Shops are super close and handy and everyone has been so friendly so far.”
Julesgreenslopes