REAL ESTATE COORPAROO
The size of Coorparoo is approximately 5.4 square kilometres. It has 24 parks covering nearly 7.3% of its total area. The population of Coorparoo in 2011 was 14,944 people. By 2016 the population was 16,284, showing a population growth of 9.0% in the area during that time. The predominant age group in Coorparoo is 20–29 years. Households in Coorparoo are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Coorparoo work in a professional occupation. In 2011, 52.7% of the homes in Coorparoo were owner-occupied compared with 54% in 2016. Approximately 41% of the area is families and 59% are singles. Currently the median sales price of houses in the area is $836,250.
Coorparoo has been made increasingly liveable with a series of developments and building in the area, but still has the charm of a more established, traditionally Australian suburb. The area is littered with multiple-storey homes that were built post-WWII, which typically feature established gardens and yards. Of course, the slow modernisation of the area means that there are now new restaurants and cafés in the area, bringing modern convenience into the sleepy suburb. The result is a blend of tradition and modernity, offering a slower pace of living with modern conveniences, especially a good coffee! The redevelopment of the Myer Building, which was originally built in the 1960s, is a big point of upcoming change for the neighbourhood. Scheduled for demolition, the area will be home to a new bus terminal, retail precinct, apartment buildings and public space. The development is scheduled to be completed in late 2019.
COORPAROO SALES MARKET
Median house prices have remained relatively consistent in Coorparoo, with some slight decreases as of January 2019, even though a similar number of houses have moved through the market compared to previous years. This means that demand for the area has grown. The median house price in Coorparoo is around $883,000 and the average apartment price is $380,000.
Apartment prices have seen a similar trend, with prices self-correcting following a pricing boom in mid-2016. There are now also fewer apartments on the market than in previous years, making the market less competitive for sellers.
COORPAROO RENTAL MARKET
There have been concerns throughout inner Brisbane that large developments throughout the suburbs, coupled with smaller, localised developments, would negatively affect property prices in Coorparoo, but fortunately the market appears to have absorbed the new properties without too much negative impact, and any decreases that may have been introduced are in the process of self-correcting.
Rent for houses in the area has remained relatively consistent, and as of January 2019 the median rent for houses in the area is $500. After a relative slump in mid-2017, which continued through to July 2018, the rental market in Coorparoo seems to be recovering, with the median apartment rent at $370 as of January 2019.
WHO ARE METROCITY REALTY?
Metrocity is a boutique sales and property management real estate company specialising in Brisbane Real Estate. Above all else, we value our clients and work hard to ensure a smooth real estate experience for each and every person we deal with. Metrocity has maintained its dominant market share for the last 17 years through striving to deal professionally and with integrity.
We can't wait to show you what we can do for you.
COORPAROO: A BRIEF STORY
Once described as ‘open forest’ with ‘extensive swamp’, Coorparoo has several creeks running through it, including Bridgewater Creek and Coorparoo Creek, while Norman Creek forms its northern border. Due to the abundance of water in the region, Coorparoo was originally a lush inland suburb. The first land made available for modern settlement in Coorparoo was sold in 1856, when ten farms from the Parish of Bulimba, near Stones Corner, were sold. Investors bought eight of them, and within a year another land auction was held for recently surveyed land on the opposite side of the road. In 1875, a town meeting was held to discuss the name of the new primary school, as well as the area, and the name ‘Coorparoo’ was decided on.
Compared to some of the neighbouring suburbs, Coorparoo was settled quite early (development in East Brisbane didn’t start in earnest until the 1870s, for example), and settlement in Coorparoo likely spread out naturally from the trading hub that was established in 1866 in Annerley.
Coorparoo is bordered to the north by East Brisbane and Norman Park, to the east by Camp Hill, to the south by Holland Park and to the west by Greenslopes and Woolloongabba.
Coorparoo is zoned for Coorparoo State School. The LOTE taught there is German. This school has a long history in the area, especially given that the primary school and suburb itself were named at the same time. The school itself is listed on the Queensland Heritage Register and has regular celebrations that encourage ex-students to come and celebrate milestones in the school’s history. If your children are secondary school–aged, the area is zoned for Coorparoo Secondary College, which offers sports and the performing arts as extracurricular activities, amongst others. They offer Chinese as their LOTE. With only 400 students enrolled in a 7–12 campus, this is a fantastic opportunity to experience regional high school numbers within the inner-city. There also several single-sex private schools in the area.
If you’re more interested in adult and tertiary education, you’re in luck as many of Coorparoo’s neighbours have tertiary education institutes and facilities. Woolloongabba is home to New England College, as well as the King’s Institute of Management and Technology. Annerley has the Australian College of Community Services, which has courses in community services, alcohol and other drugs and mental health, as well as education, health and business. If you don’t mind travelling a little further for university, there are many campuses within relatively close proximity, including the many university campuses north of the river, which include CQUniversity Brisbane, Federation University Australia and James Cook University. There are also several campuses to the west in St Lucia, specifically the UQ Riverside Campus, the UQ Business School and the UQ Faculty of Business, Economics and Law.
If fitness is your focus, Coorparoo has over ten gyms within the suburb boundary, never mind the other gyms in neighbouring suburbs. These include boxing centres, personal training and CrossFit. If you prefer to walk, there are plenty of parks nearby to the north, although you’re probably better off heading to Camp Hill or East Brisbane to have the broadest selection available. Much of the parkland follows Norman Creek as it heads away from the river, which doesn’t go through Coorparoo, but it’s still close enough if you’re a fan of a long walk. While there aren’t so many bike tracks that run directly through Coorparoo, there are many that cut through the neighbouring suburbs, so you could piggyback onto an existing trail, or find your own that suits your pace and needs. The Norman Creek Bikeway runs through Coorparoo, beginning at Tarragindi (just south of Greenslopes) and heads up to Norman Park just south of the river. There’s also the bike path that runs from Tarragindi between Greenslopes and Annerley up to South Bank. If you and your best friend prefer dog parks, while Coorparoo might only have one off leash park of its own (Wembley Park), you still have a choice between the dog parks at Tarragindi, East Brisbane, or the three dog parks in Camp Hill. There are also several hospitals on Coorparoo’s side of the river, including St Vincent’s Private Hospital Brisbane in Kangaroo Point, the Queensland Children’s Hospital and the Mater Private Hospital in South Brisbane, and the Greenslopes Private Hospital in Greenslopes to the south, not to mention the Princess Alexandra Hospital in Dutton Park.
WHAT TO DO IN COORPAROO
Coorparoo is fortunate that it’s in the middle of not only the more urban inner-city and the outer suburbs, but also that it’s between so many relatively quiet but highly liveable suburbs. Given that you’re at the edge of the inner-city and the lush greenery of outer Brisbane, you’re perfectly positioned to experience the best of both worlds.
Coorparoo is home to the Coorparoo Metre Market, which runs on the first Sunday of every month. Touting themselves as ‘Brisbane’s favourite boutique markets’, they offer a variety of goods and are worth the rummage, with the organisers arranging a mix of regular vendors as well as debut vendors to keep the offerings fresh. Given the nature of markets, it’s impossible to try and anticipate what might be on offer, so we recommend you jump on social media to see who might be around on a given weekend.
If you play tour guide to tourists regularly (or if you just like a good weekend out), there’s the Boggo Road Gaol in Dutton Park, which runs regular tours throughout the day as well as ghost tours. It’s a fabulous piece of Brisbane’s history, just like the nearby Brisbane Cemetery, which is filled with monuments and links to a much younger Brisbane.
Woolloongabba, home of The Gabba, Brisbane’s famous cricket ground, is also just down the road. There AFL and cricket matches played regularly there during their respective seasons, so if you’re a fan of a day out in the stands, you’ll be close enough in Coorparoo without getting caught in the traffic. Woolloongabba also has a lot to offer in general, with Laserforce (the first centre in Brisbane) and the Brisbane German Club, which has a variety of imported beers on tap. There’s also a second hand bookshop and the Gabba Fruit Market, which is open daily.
St Lucia isn’t too far away either, and the Green Bridge, formally known as the Eleanor Schonell Bridge, is an excellent excuse to get some exercise while you cross the river. Once you’re in St Lucia, you might want to visit the Physics Museum there, or look through the University Queensland Art Museum. Alternatively, if you like museums but not the ones St Lucia offers, there are many art museums throughout West End and South Brisbane that might tickle your fancy instead.
If you’re not a fan of what’s available in Coorparoo, then Fairfield offers an alternative destination for shopping, with its own shopping centre and supermarkets. There are also more in Yeronga and St Lucia, so you have your pick of the local offerings.
Much of Brisbane has already experience local revitalisation with younger singles and families purchasing houses in tired suburbs and bringing their own energy and flair. Coorparoo is no different, and its charming offering of historical properties alongside modern offerings makes it unusual. There is no doubt that in the future Coorparoo will continue to come into its own as it is brought into current century by people who live there and care about it. Whether you’re looking to live in something a little more rustic or something ultra-modern, Coorparoo has it on offer.