The Greenslopes property market has broken into Queensland’s million-dollar club in 2021, following a banner year of record low-interest rates, low levels of stocks, and interstate migration.
Greenslopes House Price Growth
Data from Property Market Updates show the Greenslopes property market’s growth, with the median rising by 18.13 per cent for the period covering January to December 2021. The median house price has breached the one million mark at $1,010,000.
House values in this suburb have had a steady growth in the last decade with many properties selling slightly above their listed prices. For this period, 105 properties were sold within a quick turnaround of just 26 average days on market, especially for three-bedroom homes.
The demographic in Greenslopes comprises young families and professionals who can invest in a prime piece of real estate. The Greenslopes property market continues to attract strong demand because investors have plenty of opportunities for securing tenants given that over 50 per cent of the suburb’s population are renters.
Greenslopes Unit Price Growth
Units in Greenslopes, however, saw a modest increase compared to houses for January to December 2021 with an 8.97 per cent growth from last year. The increase has set the median unit price at $425,000, following last year’s low of $390,000.
There were 221 units sold for this period with an average listing of 49 days on market. Two-bedroom units had the highest demand, mostly from professionals employed at the hospitals. Even with the unit value’s increase, Greenslopes is still one of the most affordable suburbs for units within 10 kilometres of the CBD.
About Greenslopes
Reasonably located near the CBD, Greenslopes is an easy commute for many Brisbane locals for its proximity to the motorway. Whilst it is mostly residential, Greenslopes is known for Greenslopes Private Hospital, a leading teaching hospital and a major employer of the city.
This neighbourly suburb provides residents with all the conveniences with the Greenslopes Mall and the Stones Corner Village shopping centres nearby. The suburb is also a short distance from Woolloongabba and Coorparoo, which are filled with the trendiest dining places,
As for outdoor recreations and healthy activities, Greenslopes has green spaces like Hanlon Park, Ekibin Park, and the Greenslopes Bowls Club. The area also provides a mix of schools, including medical colleges.
Whilst there are still some stunning pre-war character homes in Greenslopes, there are plenty of unit blocks and modern apartment complexes in the suburb for professionals or couples.
“Greenslopes is great for families. We relocated from Victoria over 18 years ago and have never looked back. We had a great selection of schools, both private and public. All schools in the area offer quality education. There are many sporting clubs in and around the area. Close to the Gabba for AFL and Cricket. The public transport is great, especially great when you have teenage children. Even though we are very close to the city, traffic noise in our area is very minimal. To drive into the city during non peak hour take about 7 -10 minutes, a bit longer during peak time.”
Gail
“Greenslopes is pretty good by way of public transport in terms of volume of services, although buses are often late. It is conveniently located close to the city, has good grocery facilities, and an excellent network of bike paths. Getting out of the suburb can be problematic in peak times, due to the build-up of traffic on both the Pacific Motorway and the Riverside Express, but usually, it is hassle-free. There are some nice parks in the area and it feels pretty safe. Its dining scene won’t set the world on fire but it is improving. Greenslopes feels like a suburb on the cusp of renewal.”
BrisB
