Brisbane’s Million-dollar Club

Brisbane’s million dollar club could more than double in the next three years if predictions for a massive jump in house prices come to fruition.

As many as 35 “Cinderella” suburbs could have median house prices of more than $1 million by 2022, based on BIS Oxford Economics’ forecast that Brisbane could outstrip other capital cities and surge by 20 per cent over the next three years.

Homeowners in Red Hill, Anstead and Windsor are looking at capital growth of at least $160,000, according to projections using the latest figures from property researcher, CoreLogic.

Vendors in Rochedale and Ashgrove, where the median house price is $998,000 and $980,000 respectively, could pocket nearly $200,000 without lifting a finger.

There are currently 23 suburbs in Brisbane with a median house price of $1 million or more, according to CoreLogic, but that would increase to 58.

BIS Oxford Economics associate director and report author Angie Zigomanis said he still expected Brisbane house prices to grow by 20 per cent over the next three years — the strongest growth of any capital city.

“From a fundamental perspective, Brisbane has a lot going for it,” Mr Zigomanis said. “Its population is picking up, construction is falling away so any excess supply is going to get soaked up and the economy will start to pick up.”

“If you’re a family looking for a house to live in for a long time, I think it’s a good time to get in to the market,” he said.

Other property experts are predicting even higher price growth for Brisbane over the coming years.

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BRISBANE’S NEXT MILLION DOLLAR SUBURBS

Suburb – Median house price – Predicted median price by 2022

Rochedale – $998,000 – 1,197,600

Ashgrove – $980,000 – $1,176,000

Kangaroo Point – $967,000 – $1,160,400

Dutton Park – $964,250 – $1,157,100

Bardon – $946,250 – $1,135,500

Highgate Hill – $940,000 – $1,128,000

Gumdale – $938,000 – $1,125,600

Camp Hill – $925,000 – $1,110,000

Grange – $920,000 – $1,104,000

Graceville – $907,500 – $1,089,000

Norman Park – $902,500 – $1,083,000

Fig Tree Pocket – $901,750 – $1,082,100

Kenmore Hills – $899,500 – $1,079,400

Spring Hill – $897,500 – $1,077,000

Sherwood – $895,000 – $1,074,000

Taringa – $891,500 – $1,069,800

Toowong – $890,500 – $1,068,600

Indooroopilly – $888,000 – $1,065,600

Mount Ommaney – $880,363 – $1,056,435

Lutwyche – $870,000 – $1,044,000

Yeronga – $867,500 – $1,041,000

Alderley – $860,000 – $1,032,000

East Brisbane – $860,000 – $1,032,000

Yeerongpilly – $860,000 – $1,032,000

Carindale – $856,570 – $1,027,884

Gordon Park – $856,000 – $1,027,200

Wooloowin – $852,500 – $1,023,000

Coorparoo – $850,000 – $1,020,000

Newmarket – $850,000 – $1,020,000

Red Hill – $848,500 – $1,018,200

Petrie Terrace – $847,000 – $1,016,400

Anstead – $844,000 – $1,012,800

Windsor – $840,000 – $1,008,000

Would you like to know about what these predictions could do for you? Send me a message HERE, and I can send through some information to assist you.

The above information has been sourced from Realestate.com.au. To read the full article CLICK HERE.