Cannon Hill is currently one of the best suburbs in Brisbane for its real estate and lifestyle potential, with the property market having moved exponentially in recent years.
Average house prices were sitting at around $550,000 in 2013, rising to $730,000 in 2018. A four-bedroom house in Cannon Hill has an average of 31 days on market, compared to the Brisbane average of 55 days. With its annual growth currently at 6.3%, Cannon Hill evidently ticks the boxes of a variety of buyer checklists as one of the best suburbs in Brisbane.
Why is now is a better time than ever to maximise on your Cannon Hill investment?
Cannon Hill is attractive to buyers looking to both reside or invest in the suburb. Its ‘value for money’ reputation has enabled the suburb to be popular with interstate investors looking to purchase inner city homes without the Sydney and Melbourne price tags; young families looking for proximity to Brisbane without compromising on budget or lifestyle; and executive couples looking to settle down away from the hustle and bustle of inner-ring suburbs.
Who is living and buying in Cannon Hill?
The primary demographic found in Cannon Hill is young families, with an average age of 20-39. This young age group signifies the suburb’s appeal to first-home buyers looking to get a foot in the door of the Brisbane property market.
Home to a multitude of new-to-near-new four (or more) bedroom homes with pools, these established homes are attracting a range of families. Whether they be young families, or families with children starting high school - buyers are looking for a sensible, budget friendly suburb they settle can into for the next 10 to 15 years.
Cannon Hill is one of the best suburbs in Brisbane due to its primary foundation homes on large plot sizes, with few apartment blocks and townhouses. Considering its major assets such as convenient proximity to the Gateway Motorway and Brisbane Airport, great schools such as Cannon Hill Anglican College and St. Oliver Plunkett, and abundance of parks and cafés, it’s no wonder this suburb has considerable appeal to a variety of buyers.
If you’re thinking of selling your Cannon Hill home, now is a better time than ever.
Cannon Hill expert, Meagan Muir, provides her insight. “Contemporary and near-new homes were previously achieving up to the $1 million mark, however over the past 18 months, a significant increase in buyer demand and infrastructure has seen this barrier of price now well and truly in the distance, with these properties now comfortably reaching around the $1.2 million plus mark.”
If you’re interested in selling your Cannon Hill home, or simply looking to learn more about why this is one of the best suburbs in Brisbane, find out more about the current property market here.