The Graceville property market exhibited a remarkable 36% growth, bringing the median house price up to over a million, whilst properties in Chelmer continued their steady upward trend, showing 10% growth and fast movement for the 12-month period ending September 2021.
Highlights
- Chelmer’s property market rose by 10.42 per cent, setting the median house price at $1,325,000.
- Graceville’s property market is up by an astonishing 35.50 per cent, pulling the median house price to the million-dollar mark at $1,255,000.
- Buyer activity in both suburbs was steady and brisk, with average days on the market of 61 days for Chelmer and 32 days for Graceville.
House Price Growth in Chelmer
Over the Walter Taylor Bridge is Chelmer, the suburb seating on the south side of the river bend, where house price growth has scaled up by 10.42 per cent between October 2020 to September 2021. Per figures from Property Market Updates, the current median price for this period is now at a cushy $1,325,000.
Buyer activity in this lovely suburb 20 minutes away from the CBD has generated 76 sales within an average of 61 days on the market. Properties with four or five bedrooms were more favoured by established professionals with children, who are on to their second or third homes.
A luxury five-bedroom riverfront house on the Jacaranda-lined streets of Longman Terrace sold the highest price for $8,000,000. Just 600 metres away from the train station and a short walk to the Indooroopilly Shoppingtown, this house has easy access to Brisbane Boy’s College, St Aidan’s, and the University of Queensland.
House Price Growth in Graceville
Chelmer’s neighbour, Graceville, offers a similar vibe for families who want schools, parks, and shops so close to home. In the last decade, many Queenslanders in this suburb have been turned into dining spots with a mix of old and modern interiors. The increasing improvements have added to Graceville’s charm and appeal as a family-friendly location and it has also driven house prices up by an outstanding 35.50 per cent.
From October 2020 to September 2021, Graceville’s median house price has crossed over the million-dollar mark at $1,255,00 from $925,000 in the previous year, per figures from Property Market Updates. A total of 86 houses were sold during this period with an average listing of just 32 days on the market.
The historic Molonga estate along Molonga Terrace, which was built at the turn of the 20th century alongside Graceville’s very exclusive high side, sold the highest price at $3,680,000 for this period. The house, with plenty of spacious and elegant living spaces, is minutes away from some of the best schools in the state like the Graceville State School, St Peter’s Lutheran College, and St Aidan’s Girls’ School.
About Chelmer
The relaxing lifestyle in Chelmer has definitely risen up from the devastating 2011 Brisbane flooding that has had such a significant effect on the properties. However, in the last few years, buyers have seen value in the Chelmer property market as evidenced in the yearly increase of its house median prices.
Invariably, investors look to Chelmer because it has some of the most beautiful Queenslanders in the city, characterised by its verandahs and wide staircases, which could be rebuilt or renovated into their dream homes. In fact, some of the houses have been modernised into brick builts and other urban architecture but Chelmer is still primarily zoned as a low-density residential area.
The most appealing properties are on Laurel Avenue, which is lined by 100-year-old Camphor Laurel trees. Honour Avenue, on the other hand, is Chelmer’s busiest precinct since it is close to the train line. On the weekends, families can be seen spending their downtimes with nature at the Taylor Bridge Reserve or Gordon Thomson Park.
“A lovely leafy suburb with residents who take pride in maintaining their properties. It is perfect if you want to be close to town, with great transport, but not in the city itself. A mix of old Queenslanders and new builds. Lots of green park spaces, sporting facilities including netball courts, and close to Graceville shops and shopping centre of Indooroopilly. Great walking and biking too. We are new to Brisbane and were instantly attracted to the area, and purchased here. Loving it”
Melanie
About Graceville
A major drawcard for those who live in Graceville is its reliable transport system, with two train lines running through the suburb, which brings kids to school or their part-time jobs and parents to their place of work.
Since it is one of Brisbane’s oldest suburb, buyers can find plenty of Queenslanders and post-war homes in this area. However, Graceville has had some gentrification and renovation in the last decade with commercial centres and small businesses thriving near the transport hubs. Modern homes have also replaced some of the old houses, which have driven the house median house prices up.
Graceville is a quiet neighbourhood close to the CBD. In the mornings, it’s common to find early risers strolling along the river or the park or going for their coffee run on Honour Avenue.
“Situated under 8km from the Brisbane CBD, Graceville is a quiet, leafy residential suburb bordering the Brisbane River. One of the city’s older suburbs, Graceville has some fine old Colonials, Queenslanders, post-war, and grand modern homes with many opportunities for renovation and growth. With its own train station situated along the city line, along with a great bus system, transportation to the rest of Brisbane is fast and convenient.”
Martin Hood
