For the last five years, Chermside has achieved more than 30 percent growth in Brisbane’s property market. This has apparently created a ripple effect on its neighbouring suburb, Chermside West, which has been projected to grow in 2021.
According to AusProperty Professionals Director and Founder Lloyd Edge, Chermside West is one of 10 suburbs with a huge potential for growth this year following “a high level of gentrification” in recent years.
Mr Edge said that Chermside West, located 12 kilometres off the CBD, has been building up and is now at its prime as the “markets really heat up” in Brisbane, despite the economic impact of COVID-19.
Apart from its proximity to Chermside, the suburb has two hospitals providing employment for the locals and has the popular Craigslea State School. The improvements in Westfield has provided accessibility and convenience without the busyness of a city hub.
The top 10 Brisbane suburbs with a huge potential for market growth in 2021 are:
- 1 Mansfield
- 2 Indooroopilly
- 3 Moorooka
- 4 Logan Central
- 5 Mt Gravatt
- 6 Chermside West
- 7 Stafford and Everton Park
- 8 Wishart
- 9 Woolloongabba
- 10 Hemmant
A profile of Chermside West showed that property investments for this suburb have had a capital gain of 2.71 percent for the period ending 2020 October. The median price of a Chermside West house is $625,000 with a gross rental yield of 3.91 percent.
Post-COVID, homebuyers have been looking into suburbs in Brisbane for affordability, education and migration. Brisbane has heaps of the most sought-after catchment area, with surging demand from the Asian community.