South Brisbane Investment Property

South Brisbane Postcode: 4101
–– Dwelling supplies and underlying demand indicate there will be a shortage of approximately 450 properties in 2012 and 852 properties in 2013. Beyond this period, underlying demand is forecast to exceed supply by over 1,000 dwellings each year to 2016.
–– Median unit prices in South Brisbane are forecast to rise to $455,000 in 2011 and $645,000 in 2016.
–– South Brisbane recorded the second highest median rents for two-bedroom units in Queensland, only behind that of the Brisbane CBD (Postal area 4000) at $530.
––Weekly rents in South Brisbane are forecast to rise to $540 in 2011 and $730 in 2016.
–– South Brisbane currently records a strong rental premium over the surrounding area, with rents for one and two-bedroom apartments 31% and 11% higher respectively than the 4101 postal code area (comprises South Brisbane, West End and Highgate Hill).
–– South Brisbane is conveniently located approximately 1kilometre from the Brisbane CBD directly across the Brisbane River.
–– The area contains many cultural institutions and public amenities, including Queensland Museum, the Gallery of Modern Art and Queensland State Library.
–– Existing infrastructure and public transport facilitates travel between South Brisbane and the Brisbane CBD, as well as surrounding suburbs.
–– The Mater Hospital and Children’s Hospital are located within the area, as well as many schools
and tertiary institutions.
–– Currently, 80,000 students study within 1.5 kilometres of South Brisbane and 120,000 within three kilometres.
–– Under the South Brisbane Riverside (SBR) Renewal Strategy, the area is envisioned to become a cultural centre with medium to high density residential living, and commercial and office space, allowing for construction of buildings up to 30 storeys high in certain areas.
–– The Strategy proposes to improve transport links and develop existing infrastructure. Upgrades to
public spaces and streetscapes are also planned.
–– The population in postal area 4101 is forecast to rise by 6.0% per year, driven by middle to higher
income earners and students locating to the area.
–– Residents of the area are likely to be renters living alone or as couples. They have a median age of 33, are generally well-educated and have mid to highly skilled occupations.
–– Family incomes in the postal area 4101 are considerably higher than the state average and have been accelerating over the past decade, reflecting changing demographics. This is forecast to continue until at least 2016.
–– South Brisbane has historically recorded stronger rental growth than the broader Brisbane City Local Government Area.
–– Despite median rents in South Brisbane recording the second highest median rents in Queensland, vacancy rates were below the 3% threshold, indicating an undersupply of rental property in the area.

Source: SQM Research 27 July 2010

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