Located on the Southside, Greenslopes is one of Brisbane’s up-and-coming suburbs.
This sentiment is supported by the steady growth of the demand for Greenslopes Real Estate over the past 12 months. According to Core Logic, in the past year house prices in the suburb have grown by 7.93% - a much higher rate than the national average of 4.3%.
Located only a short five kilometres from Brisbane's CBD and in close to proximity to some of Birsbane’s most highly sought-after suburbs, Greenslopes appeals to a demographic of young professional couples and investors. With the prices of Greenslopes real estate predicted to continue rising, the amount of homes for sale in the area will only increase, as buyers compete to secure a prime piece of real estate in this suburb. We explore why this previously overlooked suburb is seeing such a spike in popularity.
According to Core Logic, a huge 56.6% of the Greenslopes population are renters. Amrita Singh, Leasing Agent in Greenslopes, agrees that the rental demand in the suburb has risen drastically over the last year and will likely continue to grow.
"The rental demand in Greenslopes has consistently been strong and as Greenslopes grows to be an up and coming suburb, this will continue to rise. This is due to job opportunity, the close proximity to the CBD and other amenities and public transport," says Miss Singh.
A strong rental demand means more investors are wanting to purchase homes in Greenslopes due to the high rental return and a high chance of securing a tenant. With a strong rental demand, buyers are willing to pay higher prices to secure their investment. With Greenslopes real estate in high demand and the median house price in the suburb predicted to continue to grow, investors are confident they will make a profit on their purchase in the future.
Greenslopes Private Hospital
One of the suburbs drawcards is its proximity to the Greenslopes Private Hospital, and this is a major factor positively influencing Greenslopes real estate and bringing the median house price up. Having a hospital of this standard in the vicinity brings more jobs to the area, which has resulted in an increase of potential buyers, particularly those who work at the hospital and the older community looking to secure a property in the area. Photo Credit: FlyFilm
Jamal Naouri, Real Estate Agent and Greenslopes Area Expert says when homes are being sold in the area, a huge selling point and positive to market is the fact the Greenslopes Private Hospital is close by.
“I recently sold 47 Newdegate Street, Greenslopes, and found that the main attraction to buyers was the fact that it was on the same street as the hospital. Many buyers that came through the property saw the potential for future growth because of the location. We had a Doctor interested in turning the downstairs area to a private clinic and taking advantage of the proximity to the Greenslopes Hospital,” says Mr Naouri.
On the Cusp of High Demand Suburbs
Greenslopes is popular with both investors and owner-occupiers due to its close proximity to suburbs in high-demand, like Coorparoo and Camp Hill. Greenslopes real estate is an affordable alternative for buyers and renters who want to be near these suburbs and their sought-after amenities, but have a lower budget. The recent developments in neighbouring suburbs add value to homes being sold in Greenslopes and as the southside of Brisbane continues to grow so too will the median house price in Greenslopes.
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