Queensland’s million-dollar suburbs triple: Look who’s joined the club

first_imgThis home on a large block with a tennis court at 56 Victoria Ave, Chelmer, is for sale.It’s good news for Kathy and Rod O’Connell, who are selling their home of 27 years in million-dollar club member, Chelmer.The suburb, which is 7km west of Brisbane’s CBD, has a median house price of $1.05 million, but the O’Connell’s home at 56 Victoria Avenue is likely to fetch much more than that.The five-bedroom, turn-of-the-century Queenslander on a massive 2704 sqm block has a swimming pool, tennis court and character features such as 14ft ceilings, decorative timber fretwork and an ornate fireplace. Rod and Kathy O’Connell at their Chelmer home. Picture: AAP Image/Claudia Baxter.IF you happen to live in one of these suburbs, congratulations – you’re part of Queensland’s burgeoning millionaire’s club.The number of suburbs with million-dollar medians has more than tripled in the state in just three years, according to the latest data provided exclusively to The Courier-Mail from property analytics company CoreLogic.There are now more than 30 suburbs in Queensland with a median house price of $1 million or more, compared to just nine suburbs in the middle of 2014.And there are another 22 so-called “bridesmaids” — suburbs with median house prices of $900,000 or more — nipping at their heels. Kalinga now has a median house price of $1 million. Picture: Mark Cranitch.The tiny, tightly-held pocket of Kalinga, 7km north of Brisbane’s CBD, is the newest suburb in the state to crack seven digits.Kalinga, which only officially became recognised as a suburb in 2015, now boasts a median house price of $1 million thanks to a number of big sales this year and increasing demand for Brisbane’s inner northern suburbs.“Overall the Brisbane market’s not necessarily that strong, but some of those blue chip areas in the inner north seem to be quite strong at the moment with lots of demand, and that’s pushing up prices,” CoreLogic research analyst Cameron Kusher said. REA Group chief economist Nerida Conisbee.Ms Conisbee said Townsville was starting to see a recovery from the mining downturn and the city’s premium suburbs were beginning to attract buyers.“People think it’s probably at the bottom of the cycle now,” she said.Three years ago, the only suburbs in Queensland sitting on median house prices above $1 million were Ascot, New Farm, Chandler, Teneriffe, Hamilton, Surfers Paradise, Sunshine Beach, Hawthorne and Bulimba. MILLIONAIRE ‘BRIDESMAIDS’Brookfield $992,500Auchenflower $990,000Runaway Bay $970,500Castaways Beach $965,000Rochedale $958,000Castle Hill $955,000Alexandra Headland $952,500Yeronga $942,500Upper Brookfield $940,100Carbrook $940,000Noosaville $940,000Kangaroo Point $935,000Taringa $935,000Willow Vale $930,000Gumdale $930,000Shelly Beach $917,500Milton $915,000Currumbin Valley $910,000Grange $904,000Bardon $903,000Noosa Heads $900,000Ashgrove $900,000(Source: CoreLogic) CoreLogic research analyst Cameron Kusher.“Interstate migration is picking up in southeast Queensland and people coming from Sydney are seeing what you can get for your money (in Brisbane’s inner north).” REA chief economist Nerida Conisbee agreed, noting Kalinga was the second most in-demand suburb in Queensland on realestate.com.au in the past six months.The state’s most expensive suburb continues to be Teneriffe, with its median house price jumping a massive 122 per cent in three years.Teneriffe is now on the cusp of becoming Queensland’s first ever $3 million suburb, sitting at $2.62 million. Penfold Property Group has significant greenfield land holdings in Pallara and surrounding suburbs.First National Metro agent Michael Hatzifotis said prices in the suburb had gone through the roof after a recent rezoning.“Not many people know about it,” he said.“Some people ring me up and don’t realise how expensive it is out there now.” Mr Hatzifotis said many buyers were keen to landbank because there was little land left in Brisbane with industrial zoning close to the CBD.“That’s the end goal for a lot of these people,” he said.“They’re looking to hold on to it, wait for it grow in value and then subdivide and sell it off.” The view over Townsville from Castle Hill. Photo: Lindsay Button.Castle Hill in Townsville, Alexandra Headland on the Sunshine Coast and Grange in Brisbane’s inner-north are among the next wave of “bridesmaid” suburbs waiting to join the million dollar club.Castle Hill’s median house price currently sits at $955,000, having risen 11 per cent in 12 months, and REA chief economist Nerida Conisbee expects it to hit seven figures very soon. QUEENSLAND’S NOD TO THE HAMPTONS HOUSE PRICE DROP WARNING HOMES MADE FOR CRICKET LOVERS This home at 56 Victoria Ave, Chelmer, is for sale for the first time in 27 years.Mrs O’Connell said the home was on one of the few large blocks of land left in Chelmer, as many of the tennis courts in the suburb had been sold off and developed.“We’re really going to miss the tennis court,” she said. “That was the main reason we bought the house, so our boys could play tennis and keep them out of trouble.”More from newsParks and wildlife the new lust-haves post coronavirus23 hours agoNoosa’s best beachfront penthouse is about to hit the market23 hours agoThe property is scheduled for auction on December 9 through Jason Adcock of Adcock Prestige.Mrs O’Connell said Chelmer had a community-feel and its tree-lined streets were close to good schools, a train station, parks, shops and restaurants.QLD’S MILLIONAIRE SUBURBS – DOES YOURS MAKE THE CUT?Suburb Median house priceTeneriffe $2.62mSouth Brisbane $1.6485mNew Farm $1.575mMermaid Beach $1.52mMain Beach $1.5125mPallara $1.51mAscot $1.47mSurfers Paradise $1.3875mChandler $1.325mSt Lucia $1.2835mBulimba $1.26mFig Tree Pocket $1.2mWilston $1.2mClear Island Waters $1.195mHighgate Hill $1.188mSunshine Beach $1.15mClayfield $1.135mHawthorne $1.125mWest End $1.1225mSpring Hill $1.1mPullenvale $1.085mBroadbeach Waters $1.08mHamilton $1.08mParadise Point $1.05mBundall $1.05mChelmer $1.05mSamford Valley $1.04mBalmoral $1.0275mHendra $1.01mRobertson $1.005mKalinga $1mPaddington $1m(Source: CoreLogic) This huge house at 52 Henry St, Kalinga, recently sold for $1.9 million. Teneriffe is Queensland’s most expensive suburb with a median house price of $2.62m.Ascot, New Farm, Hamilton, Bulimba and Hawthorne have all retained their spots on the elite list, but some of the newer suburbs are not your usual suspects.The outer suburb of Samford Valley, 20km from Brisbane’s CBD, is also in the million dollar club with a median house price of $1.04 million – up 16 per cent in 12 months. Mr Kusher said it classified as a “lifestyle” suburb similar to Pullenvale and Chandler. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE He said appetite for big properties on acreage was also spreading to the Gold Coast, with suburbs like Currumbin Valley now boasting a median house price of $910,000.The little known suburb of Pallara, 13km from Brisbane’s CBD, is one of the biggest surprises, with its median house price jumping a massive 47 per cent in just 12 months to $1.51 million.last_img read more


first_imgThe Tory Island walkers who helped raise vital fund for the irish Guide Dogs for the Blind!Last Saturday the Tory Island 10k walk raised €1,650 for Irish Guide Dogs for the Blind.Well known Tory resident Jimmy Doohan with wife Theresa and his loyal guide dog.Walk organisor, Bernie McNulty, one of the islands public health nurses was delighted with the turn out.More than 100 people undertook the walk with more than 30 of those walking visiting the island for the first time. It is now planned to make this an annual event.Congratulations to everyone who took part in what turned out to be a great occasion in terrific weather conditions.TORY’S INAUGURAL WALK FOR IRISH GUIDE DOGS FOR THE BLIND A HUGE SUCCESS was last modified: August 13th, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:10KIrish Guide Dogs for the BlindTory IslandWALKlast_img read more