With six successful developments in our Brisbane portfolio, many investors have asked us where’s next for property investment in the city?
Less than five kilometres from Brisbane CBD, Stones Corner is a well-connected inner south-eastern suburb of the city. Growing as a cultural and lifestyle precinct on the back of regeneration investment and excellent local amenities and transport connections, Stones Corner has emerged as one of Brisbane’s top property investment locations.
Stones Corner people
Stones Corner has become a major residential destination for Brisbane’s young professionals over the last few years. With an average age of 35, Stones Corner residents are typically young and career-oriented with significant disposable income.
Some 35% of the local population falls within the 20 to 34 age bracket – a figure 34.6% higher than the average across the Brisbane LGA – while couple families with no children dominate the area, representing 45% of the population.
More than a third of the area’s residents are employed as professionals (20.7% above the Brisbane LGA average), which is reflected in the high median weekly individual income in the district – at AUD835, it’s 20% higher than the citywide average.
Stones Corner connections
Transport infrastructure is one of Stones Corner’s most valuable assets. Public transport to the heart of the city’s business district takes less than eight minutes, while South Brisbane station in the popular West End district is less than a ten-minute journey away.
Such strong citywide connections have also made Stones Corner a popular residential location for students. The University of Queensland, Queensland University of Technology, Griffith University South Bank Campus and the Southbank Institute of Technology are collectively enrolled in by over 100,000 students, and all are within around 10 minutes’ travel time of Stones Corner.
A key factor in Stones Corner’s excellent connectivity is the AUD426 million South East Busway, a bus-only corridor that provides direct links to the CBD to the north and Griffiths University to the south.
Stones Corner jobs
Beyond transport to areas outside of the district, Stones Corner’s excellent local employment market is another draw for new residents. The Stones Corner Catchment (covering the Woolloongabba, Greenslopes and Coorparoo districts), was home to 28,920 jobs in 2011, and new forecasts expect this figure to have risen to 51,905 by 2031, an increase of 79.5%.
Another factor supporting employment numbers is the proximity of several key parts of the city’s health infrastructure. Between the Mater Public and Private Hospitals, Princess Alexandra Hospital and Greenslopes Private Hospital, some 16,000 healthcare workers are based nearby, making Stones Corner a major residential neighbourhood for this large and stable demographic of potential renters and buyers.
Stones Corner property
All of these factors have come together to drive a steady increase in Stones Corner’s popularity, with the local property market having recorded impressive growth in recent years.
The current median property price was AUD 381,000 as of September 2015, a figure which has increased by an average of 4.9% per annum over the last decade. The rental sector is also well established, with 51% of the area’s homes rented dwellings compared to just 36% across the wider Brisbane LGA. Rental rates have consistently increased over the past decade, with two-bedroom units recording average annual rate growth of 5.8% and one-bed rates rising by 6.8% per annum.
Another factor marking Stones Corner apart as a strong proposition for international property investors is the significant price premium on new and near-new rental units. New and near-new two-bed units are achieving rental rates 31.1% higher than established products in Stones Corner, while new and near-new one-bed units are performing even better, achieving a 32.8% premium over established rental homes.
The future for Stones Corner looks extremely bright. According to a recent Urbis report, “the Stones Corner Catchment is expected to attract significant owner-occupier and investor demand as the area undergoes ongoing transformation through its strong connectivity to major transport links and proximity to growing infrastructure and employment nodes.”
We look forward to introducing you to a new investment opportunity in this high-potential part of Australia’s New World City in the very near future.