Hendra: Among Brisbane’s Out-Performing Real Estate Markets

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A recent real estate markets analysis revealed that contrary to the common notion, the Brisbane housing market is already showing signs of recovery as many of its suburbs, including Hendra, have already achieved above-average price growth.

The latest analysis from Hotspotting’s Terry Ryder said that whilst most sources either show little or no growth, many suburbs in the Greater Brisbane area are performing exceptionally well.

Analysis of the quarterly and annual price data of 269 suburbs revealed that 83 suburbs recorded more than five percent growth, with 20 of them posting double-digit increases.


 


Sandgate led the list of higher-end markets that achieved annual house price growth exceeding 10 percent with its house median price of $755,000, a rise of 19 percent. Hendra also registered price growth, up by 13 percent to $1.1 million.

On the other hand, realestate.com.au sales data from 1 April 2018 to 30 April 2019 shows that the median house price in Hendra is at $1,030,000, higher than the state median price of $495,000.

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Other high-end suburbs with highest annual house price growth include Graceville (13%), Bardon (11%), Kenmore HIlls (10.5%), Norman Park (10%), and Paddington (11%).

On the other hand, 100 suburbs record less than five percent growth whilst 47 posted less than five percent negative growth and the remaining 39 suburbs dropping more than five percent.

Of the 39 suburbs that posted declines of more than five percent, 27 were considered as units markets, led by Bowen Hills (-20%), Bulimba (-15%), East Brisbane (-15%), Woodridge (-10%), Greenslopes (-11%), Hamilton (-11%) and Woody Point (-18%). These figures indicate that the supply glut for the past years has not been confined to inner-city areas alone.

The analysis suggests that with the Federal Elections over and once lending restrictions ease up, the Brisbane housing market’s upward trend will become more apparent.