House sales in the Corinda property market are flourishing, riding on the back of the Brisbane boom, as families flock to riverside homes near some of Brisbane’s elite schools.
- For the 12-month period from July 2020 to June 2021, Corinda’s property market showed a modest 4.87 per cent growth, with the median house price settling at $905,000.
- For the same period, the median unit price went down by 10.11 per cent.
- A flurry of sales activity in Q2 2021 resulted in a 53 per cent increase in median house price over the previous quarter.
House Price Growth
Between July 2020 to June 2021, Corinda’s median house price growth stayed just below the million-dollar mark at $905,000, ending the 12-month period with a modest 4.87 per cent increase. Houses stayed an average of 50 days on market with 84 properties sold for this time period, per figures from Property Market Updates.
In the first half of 2021, the median house price in Corinda hit an astounding 52.53 per cent growth, comparing Q2 to Q1 2021, putting the median house price at $1,205,000. Sales during this period closed shorter at just 30 days on the market with a higher concentration of four-bedroom properties sold compared to the first quarter, where cheaper two-bedroom homes dragged the median down.
A charming hilltop riverfront estate sold the highest at $4,200,000 for this period. Located at Dewar Terrace, this was one of the last remaining grand acreage estates in Brisbane’s southwest. Spanning two acres, this property has a beautiful cottage-style mansion built in the 1940s with a modern and updated layout.
The home has several living spaces for entertaining and lifestyle amenities like a gym, spa, and a pool surrounded by a stylish garden. The house also provides easy access to St Aidan’s Anglican Girls School, the cafes and shopping district in Corinda, and the railway to the CBD.
Unit Price Growth
The median price for unit properties in Corinda dropped by 10.11 per cent for July 2020 to June 2021. The movement of apartment property sales was at an average of 54 days on the market. Whilst there were 60 units sold during this time period, especially from the new apartment block developments near the railway precinct, the bulk of the sales were for small and more affordable two-bedroom apartments, thus pulling the unit median price at $413,500.
Corinda is a vibrant and green location in the southwest of Brisbane. Found some 14 kilometres away from the CBD, this tree-filled, family-friendly the neighborhood has some elevated streets, offering a beautiful view of the city. Here, families have stayed in their character homes for generations, with some homeowners deciding to sell or downsize only after two decades.
With good public transport, Corinda offers convenience for the residents who want to live in larger blocks of homes in a quiet suburb. There are plenty of good schools in the area, such as the Corinda State School or elite private institutions like St Aidan’s Anglican Girls School or St Peters Lutheran College.
Honour Avenue is a favourite outdoor hangout for many families during their weekend recreational activities, whilst Oxley Road thrives as the retail precinct for many small business owners who are still on a first-name basis with heaps of the locals. However, in recent years, the community has had a spate of younger families coming in.
“We love living in high side Corinda, plenty of great walking paths and a well maintained dog park. We are close to public transport and within walking distance to one of Brisbane’s most affluent schools, St Aidans. Prima Vera is great for breakfast and we look forward to future gentrification and growth of the cafe culture!”KJH
“Offers luxury class living in high side Corinda along the river (west). Shops and restaurants are lively day and night. I recommend this suburb for those that like to escape the urban feel for a green, leafy feel yet so close to the CBD.”Tom L3