The Nundah property market, along with several other suburbs of Brisbane, has remained steady in 2021, showing modest but consistent growth and brisk turnover amidst the economic uncertainty wrought by the pandemic.
Highlights
- Unimpeded by the impacts of the pandemic, Nundah’s property market rose by 13.14 per cent in Q2 of 2021, contributing to a 1.83 per cent growth overall for the period July 2020 to June 2021.
- The unit market posted a 3.71 per cent growth over the period July 2020 to June 2021.
- 119 houses and 406 units were sold during this time period, with average days on market of 37 and 58 days, respectively.
House Price Growth
For the period covering July 2020 to June 2021, Nundah’s house price growth reflected a modest 1.83 per cent, putting the median house price at $835,000, per Property Market Updates. However, the market is slowly but steadily ramping up, as shown in the second quarter performance figures which saw the median house prices grow by 13.14 per cent over the previous quarter, ending with a median house price of $919,250.
Market listings stayed an average of 37 days on the market, showing brisk activity with 119 properties sold for the said time period. Nundah buyers were hustling to buy three-bedroom houses, which took up half of the market.
An attractively positioned 607-square metre property on an elevated section of Oxford Street, one of Nundah’s most desirable locations, sold the highest price for $1,900,000. The renovated Queensland home, with its family-friendly layout, impressed the buyer during an auction for its modern sophistication and charming original architecture.
The house’s location is a short walk to St. Joseph’s School and the Nundah State School. It’s also conveniently close to all public transport, including the Brisbane Airport.
Unit Price Growth
Unit sales in Nundah saw an average of 406 properties sold during this 12-month period, at an average of 58 days on market. 140 of the 406 properties were sold during Q2 2021. Half of the stocks acquired were for two-bedroom units as keen investors took advantage of a high-demand market.
The influx of demand in the area has driven the median unit price up by 3.71 per cent for the 12-month period, settling at $405,000.
About Nundah
Nundah was the site of Queensland’s first public housing project along Surrey Street in the early 1900s. Decades of development, however, turned this endearing suburb into a contrasting mix of housing styles, from rustic Queenslanders to impressive modern homes and brick and timber cottages that reflect its rich history.
In recent years, however, apartments have been filling the demands of young families, single-income dwellers, as well as retirees looking for a beautiful but low maintenance space. More than half of the residents in Nundah are renters.
Popular with the working class for its reasonably-priced houses, Nundah is ideal for those who want the conveniences of living not too far from the city for work but distant enough from the busy CBD.
Increased infrastructure improvements allowed Nundah to become a major suburban centre in the north, opening up heaps of businesses, cafes, and restaurants. For leisure and recreation, residents have the Nundah Farmers Market every Sunday and the improved Toombul Shopping Centre for meals, movies, and other activities.
“Lived here two years, I love the variety of shops with Toombul at your fingertips. Transport is excellent, with several train lines passing through both Nundah and Toombul stations you have trains every 15 minutes, or if you drive the Tunnel is very close by. Would suit fly-in fly-out workers with the airport very close. Walking tracks are abundant around town and along the creek, fisho’s – don’t expect to catch any edible fish in there.”
Chris
“Hello, I’ve lived in Bridge Street, Nundah for the past 12 yrs. I am so glad Lord Mayor Jim Soorely proceeded with Sandgate Road traffic diversion around the Nundah shopping area, creating the fantastic streetscape of the up and finally coming Nundah Village. My street has period homes and worker cottages which look great as most are now renovated. It is a quiet street, very little traffic and only 250 metres nice and flat stroll to Nundah Train Station and the village.”
Jackson W
