SERVICE AREA HIGHGATE HILL
Highgate Hill is a riverside suburb famed for its community-focused vibe, relaxed, leafy aspect, and multitude of dining and entertainment options. Locals enjoy the best of both worlds with close proximity to the activities and facilities at West End and Southbank, whilst maintaining its peaceful pace and close-knit neighbourhood feel.
The suburb is rich in history and culture with Hardgrave Road’s dining strip representing several diverse cuisines including Vietnamese, Greek, Thai, Indonesian and Turkish.
Dornoch Terrace in Highgate Hill is one of Brisbane’s most enviable addresses as its elevated position gives it the title as having the best cityscape views. The street is home to two landmark residential buildings – Torbreck (built in 1960) and the Highgate (built in 2017).
Highgate Hill covers approximately 1.3 square kilometres and its two parks (Lyons and Brydon Street) occupy 0.3% of the total area. The area has a friendly feel to it as neighbours stop to greet each other and Lyons Park brings locals together with its community garden.
Due to Highgate Hill’s central location, residents are spoiled for choice when it comes to public transport. The route 199 bus stops are dotted throughout the area, with a bus scheduled to come past and take you into the City every ten minutes. Train stations are within easy access with one located at South Brisbane and the other at Dutton Park. The CityCat also stops at Orleigh Park and Southbank.
Households in Highgate Hill are primarily professional couples (aged 20-29 years) and there are also many young families drawn to the great local atmosphere and strong reputation of Brisbane State High School and other fantastic local schools. The population is currently sitting around 6200 with 56% owner occupiers leaving the remaining 44% renting.
WHO ARE METROCITY REALTY?
Metrocity Realty 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 one 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.
BUYING AND SELLING IN HIGHGHATE HILL
Throughout the course of 2018 we have seen house sales follow a similar pattern to the 2017 sales. Only six houses were reported to have sold in the first quarter of the year and the median sale price just below the million mark. Demand for houses in the area is huge as the relaxed lifestyle, close proximity to West End and Southbank, and access to quality schools in the area is extremely attractive to young families.
With the construction of several new apartment complexes in the area drawing to completion, it appears that prices have now stabilised. With a median price of just under $500,000 buyers seem to be realising the great value of Highgate Hill apartments and are seizing the opportunity to own so close to the City. Potential owner occupiers love the Highgate Hill vibe and entertainment and dining options while investors can look forward to earning some great rental returns and future long term growth.
HIGHGATE HILL RENTAL MARKET
We can finally take a breath of relief with the completion of several major apartment complexes in West End. The developments will add long-term value to the area with their world-class facilities and high-end finishes. However, in the short-term, too many have been built and there is an oversupply in the rental market. It is reassuring to know that developers are starting to realise this and there have been a number of projects not proceeding and that this long period of growth is now coming to an end in 2018.
The good news is that median rental prices have now stabilized with the median weekly rent for houses sitting at $500 and for units at $350.