Woolloongabba: Brisbane's Booming Suburb

Woolloongabba: Brisbane's Booming Suburb - Tiff Collins Brisbane Buyers Agent

Tiff Collins-Director of Acquisitions at YouandMe Personalised Property Services

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Director of Acquisitions - Queensland

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G’day property enthusiasts! Welcome to our Brisbane Property Market Roundup for September 2024, with our local Brisbane buyers agent Tiff Collins and the co-founder Simon Deering. This month, we’re shining a spotlight on the vibrant inner-city suburb of Woolloongabba. From skyrocketing property values to exciting developments, we’ve got the inside scoop on why this once-overlooked location is now the talk of the town. Let’s dive into the latest real estate news and trends shaping Brisbane’s property landscape.

Woolloongabba: From Industrial Hub to Property Hotspot

Woolloongabba, once known as Brisbane’s “black sheep” suburb, has undergone a remarkable transformation over the past decade. This former industrial area, just 2km from the CBD, has blossomed into a highly sought-after residential enclave.

Simon Deering from You&Me Personalised Property Services recalls, “We started doing projects in Woolloongabba back in 2014, 2015, and we really took on that vision and understood that over a period of time, the suburb’s really going to transform.” Fast forward to 2024, and that vision has become a reality. The suburb is booming, with median house prices hitting a whopping $1.585 million.

Impact for the property market

This dramatic shift has put Woolloongabba firmly on the map for both investors and homebuyers. Its proximity to the CBD, coupled with ongoing development, makes it a prime location for those looking to capitalise on Brisbane’s growth.

Unprecedented Growth in Woolloongabba’s Property Market

Woolloongabba has experienced explosive growth in property values over the past year, outpacing many other Brisbane suburbs.

Significant growth

Houses in Woolloongabba have seen a staggering 20% growth over the last 12 months, with the median price now sitting at $1.585 million. The unit market hasn’t been left behind, with prices up 14.6% to a median of $600,000.

Woolloongabba Suburb Profile

Lucrative opportunities for owners and investors

This rapid appreciation is attracting investors and owner-occupiers alike, drawn by the potential for strong returns and the suburb’s increasing desirability as a place to live.

Featured Development: South City Square

The multi-stage South City Square development is transforming Woolloongabba’s skyline and lifestyle offerings.

Key Takeaways:

Partial completion has already delivered a Woolworths, movie theatre, and numerous cafes and wine bars
A hotel is in the pipeline, further cementing Woolloongabba’s status as a destination suburb
The development is making Woolloongabba a self-contained community with all amenities within walking distance

Trends and Insights

The Rise of Inner-City Apartment Living

Brisbane’s inner-city apartment market is experiencing a surge in popularity, with Woolloongabba at the forefront of this trend.

As Simon Deering notes, “We really feel that that space in the city apartment living in Brisbane is definitely going through the roof right now.” This shift is driven by a desire for convenience, lifestyle, and proximity to work and entertainment precincts.

Future Outlook:

With continued population growth expected in Brisbane, the demand for well-located apartments is likely to remain strong, potentially leading to further price growth and development opportunities.

The Enduring Appeal of Land in Inner-City Suburbs

Despite the rise of apartment living, houses with land in Woolloongabba remain highly prized.

Tiff Collins from You&Me Personalised Property Services explains, “Being able to buy a home with a land component two clicks from the city for around 1.5 million gives our investors and buyers a lot of long-term options.”

Predictions for the next years

As developable land close to the CBD becomes increasingly scarce, properties with land in Woolloongabba are likely to see continued strong demand and price growth.

Community Highlights

The Gabba: More Than Just a Stadium

The iconic Gabba stadium continues to be a major drawcard for the suburb, offering residents easy access to world-class sporting events.

Tiff Collins enthuses, “All of us lucky recipients who live here, who can just walk down and watch a game on a Saturday night or a Sunday, don’t have to get in the rat race and worry about parking.”

The Gabba not only provides entertainment but also contributes to the suburb’s strong sense of community and identity.

Wrapping Up

Woolloongabba’s transformation from industrial precinct to property powerhouse is a testament to Brisbane’s evolving urban landscape. With its blend of character, convenience, and growth potential, it’s no wonder this suburb is capturing the attention of savvy investors and homebuyers alike.

Simon Deering and Tiff Collins discuss the potential of Woolloongabba, Queensland

Contact our local Brisbane buyers agent

If you’re looking to get a foothold in Brisbane’s booming property market, Woolloongabba should definitely be on your radar.

As always, we’re here to help you win in this market and find the perfect property for your needs.

If you would like to find out more, contact us to learn how we can help you secure the best property opportunities.

Until next time, happy investing!

Video Transcript

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G’day everyone I’m Simon Deering from You&Me Personalised Property Services, the buyers agents made for you.
We are in the gorgeous inner city suburb of Woolloongabba. We are in Tiff Collinss neck of the woods.. So, we’re in Gabba, couple of kilometres from the CBD. About two. Really really beautiful, inclusive suburb.

So I've lived here for about five years. Absolutely. Love it. I live in an apartment. I have absolutely everything I need here. What I love about Woolloongabba is, is, you know, like 15, 20 years ago, Woolloongabba was known as sort of like the black sheep suburb. It was more an industrial type area. And, when you live in the proximity to clicks to the city, it was never really going to keep that, I guess, perception..

And, you know, we started doing projects in Woolloongabba back in 2014, 2015, and we really took on that vision and understood that over a period of time, the suburbs really going to transform. Now, fast forward ten years. The suburb is booming. Median house prices around that sort of 1.5 million mark. What sort of growth have we had over the last 10 months? 20% growth in houses over the last 12 months?

Median house price at 1.585 units is sitting at $600,000, with growth of 14.6%. So again, amazing affordability here in the apartment space. And for those astute investors or young families that are looking to purchase a really strong home investment Woolloongabba, you cannot look past it. Well, see, this is what I really love about Woolloongabba. Like, you know, we've spoken about some apartments and you know, we really feel that that space in the city apartment living in Brisbane is definitely going through the roof right now.

There's lots more growth to be had over the next 2 or 3 years, but being able to buy a home with a land component two clicks from the city for around 1.5. The reason why we love this is because that gives our investors and buyers a lot of long term options. So yes, you're going to get the impact of the short term capital growth.

And you'll have you'll always have good, consistent growth over any period of time based on its proximity and the amenity and the infrastructure and everything that Woolloongabba has got going for it. But Woolloongabba is no doubt an area that will want to have more developments, because of the population influx that's coming to Brisbane. So if you have around one and a half to $2 million and you're looking for the perfect blend of land, house location and long term options, I actually think Woolloongabba is the inner city suited to do it.

It. I cannot agree more. There is just so much going on here. As Simon mentioned, lots of development that has been happening and really good, strong development to start. We've had the deliverance of the multi-stage South City square, which is still partially under construction, that will see a hotel being delivered to the Woolloongabba catchment. It has also brought a movie theater, a Woolworths, plenty of beautiful wine bars and cafes and places to eat, making this place a destination in itself.

So for residents who are living here, it is walking distance to any and every amenity that you could possibly want. And let's not forget where Woolloongabba or the Gabba gets its name. Yeah, so all of us lucky recipients who live here, who can just walk down and watch a game on a Saturday night or a Sunday, don't have to get in the rat race and worry about parking.

Absolutely amazing suburb with so much character and so much soul. Yeah, you're really well-put guys. If you are that investor you're looking for the home. You're looking for proximity to the city. And you want to get involved in Brisbane. Give us a call or get in touch with us today, and we can help you on your investment journey.

Until next time, happy investing.

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Tiff Collins

About the author

Director of Acquisitions - Queensland at You&Me Personalised Property Services

Experienced Brisbane Buyer's Agent with an extensive background as a practicing solicitor.