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House prices by line

Brisbane / QLD Transport Discussion

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House prices by line

Postby Roderick Smith » Thu Oct 19, 2017 12:16 pm

As ever, the strong link between town planning and public transport, and good transport enhancing property values.
This survey would have been enhanced by not lumping Ferny Grove with Caboolture.

Roderick

Doomben the most expensive Brisbane train line to buy a house on: Domain Group. Oct 15, 2017.
The most expensive Brisbane train line to buy a house on has been revealed as the Doomben line, according to new data.
Domain Group has crunched the numbers on the average median house price along each train route, following the release of the latest State of the Market report earlier this week.
Unsurprisingly, Doomben emerged as the clear leader, with several of Brisbane’s most expensive suburbs making up the relatively short train line.
The most expensive train line in Brisbane by far was the Doomben line. Photo: Tammy Law.
Doomben’s lowest median was Albion at $752 000 while its highest was Ascot at $1.4m. Overall the train line’s average price came in at $950 000 – head and shoulders above the second-most expensive train line, Shorncliffe-Wynnum.
Domain Group chief economist Andrew Wilson said it was not surprising that Doomben came away with the highest average median by far, and the success of suburbs like Hendra and Ascot had very little to do with the train line.
“They’re higher-priced areas, we know that. There are other factors pushing up the prices in those suburbs anyway,” he said.
Shorncliffe had a solid average median sale price of $530 000. Photo: Tammy Law..
All of the suburbs on Doomben are close to the city, meaning the rail link generally meant less to the residents anyway. “The closer you are to the city, although it’s a convenience, it’s not at the same level if you live further out,” Dr Wilson said.
The Shorncliffe to Cleveland line was next best, with an average median of $530 000. The line includes suburbs such as Boondall, Banyo, Wynnum and Manly.
The lowest-priced line was the Caboolture to Ipswich, with an average median sale price of $371 000. This was despite a number of medians above $1m along the line. The overall median was brought down by low-priced suburbs further towards Caboolture and Ipswich.
The line to watch in future is the Redcliffe to Springfield line, which is relatively new and has suburbs showing strong signs of growth.
Harcourts Redcliffe owner Steve Hawley said since the rail link to the city opened in Redcliffe, things were starting to move in the seaside area.
“I think the word’s got out. The peninsula has been a sleeping giant for decades and it’s coming of age and it’s being noticed,” Mr Hawley said. “A lot of purchasers in the area are making comment about the train line.
“Kippa-Ring and Rothwell have just gone nuts and whenever we list something it sells quickly.”
Having a nearby train station has also opened suburbs up to interstate investors, who often look for nearby public transport when buying an investment property, Mr Hawley said.
“Every single listing I get, the first three out of five buyers are southern. It has opened it up to people like that.”
Averages were calculated with each median available along each train line, and the suburbs were taken from the official Translink map, which is available online here.
http://www.domain.com.au/news/doomben-t ... 015-gz11qd
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Re: House prices by line

Postby burrumbus » Tue Oct 24, 2017 3:47 am

Still only fractions of the housing prices in Melbourne and Sydney,Roderick.
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