Ashgrove – Buyers Agent’s Guide

Are you looking to purchase a home or investment property in Ashgrove? As an Ashgrove Buyers Agent we’d be happy to help and have compiled the following suburb profile for your information. Best wishes with your Ashgrove property purchase!

Description

Ashgrove is an upscale, family-friendly suburb located 4km northwest of the Brisbane CBD. Ashgrove is best known for its beautiful, pre-war character homes, quiet streets, parklands and excellent schools.  Ashgrove is bordered by the suburbs of The Gap, Bardon, Red Hill, Paddington, Enoggera and Alderley

Demographics

The population of Ashgrove in 2011 was around 13,000 and continues to grow. 70% of households in Ashgrove are owner occupied and consistent predominantly of professional couples with children.

Shops, restaurants and entertainment

Ashgrove’s main shopping and café precinct is located around the junctions of Waterworks Road, Steward Road and Ashgrove Ave.

Transport

Trains do not service the area, but several convenient bus services connect Ashgrove with the Brisbane CBD via Waterworks Road.

Schools

The area is home to a number of great private and public schools including:

Private schools

  • Marist College
  • Mater Dei Catholic Primary School
  • St Finbarr’s Primary School
  • Mt St Michael’s College

Public schools

  • Ashgrove State School
  • Oakleigh State School

Parks and Green spaces

There is an abundance of parks, sports grounds and green spaces in the suburb.

Banks Street Reserve is a beautiful green oasis providing kilometres of walking and cycling paths. Dorrington Park and the Enchanted Forest playground is a popular spot for weekend picnics with young kids. Ithaca and Enoggera Creek bicycle paths are used by many local residents to commute to the city.

Major employers

Most residents commute to the Brisbane CBD for work.

Most and least desirable areas

An area known as The Avenues (located between Waterworks Road to the south, Stewart Road to the east and Enoggera Creek to the north and west) is the most desirable, and most expensive, part of Ashgrove.

Traffic noise can be an issue for properties close to major thoroughfares including Waterworks Road, Jubilee Terrace, and Stewart Road. Buyers should check the Brisbane City Council Flood Maps, as some areas (especially along the creeks) are susceptible to flooding.

Housing type and typical block size

The vast majority (79%) of properties in Ashgrove are free standing houses.

The suburb is particularly well known for its ‘Ashgrovian’ style houses. These timber character homes were built in the late 1920s and mid 1930s, and are characterised by a grand gable roof, surrounded by smaller gables behind. Inside, bay or box seat windows are common as are ornate plaster ceilings. A typical block size for this type of home is 600 m2.

Post-war houses also occur in the area. Many of the post war homes have been removed to allow for subdivisions, and the construction of contemporary homes on smaller sized blocks (400m2).

What can my money buy in Ashgrove?

The median house price in Ashgrove is $856,250, which is well above Brisbane’s median.

The median house price in Ashgrove would typically buy a renovated 2-3 bedroom, 1 bathroom house on a 600m2 block. For example: 57 Mclean Parade Ashgrove, QLD, 4060 – sold May 2017 $840,000 (click to view listing)

 

 

 

 

 

The median unit price in Ashgrove is: $440,000

This amount would typically buy a 2 bedroom, 2 bathroom, 1 garage unit in an older style complex but in a very good condition. For example: 8/22 Bott Street Ashgrove, QLD, 4060 – sold June 2017 $435,000 (click to view listing)

 

 

 

 

 

How has the Ashgrove property market been performing?

In the last 5 years the median house price has increased by 27.2%. Over the last 10 years, house prices have increased by 4.5% per annum.

Units in Ashgrove have seen more modest price growth. In the last 5 years the median price of units has increased by 12.8%. On average, over the last 10 years unit prices have increased by 2.5% per annum.

Supply and demand characteristics for Ashgrove:

  • Houses are typically selling within 61 days (Units typically sell within 71 days).
  • On average houses are selling 7% below their list price. (Units typicaly sell 6% below their list price).
  • The auction clearance rates for houses is 36% (compared to 50% for units).
  • The average rental yield for houses is 3.15% (compared to 4.95% for units).
  • There is a shortage of houses currently listed for sale (1%), (There is a large number of units currently listed for sale (4.5%)).
  • The rental vacancy rate for houses is 3.4% (compared to units 3.4%).

**Statistics are accurate for July 2017

Check out Ashgrove’s Community Facebook page (click here) for some additional information on the suburb.

Thinking about buying a property in Ashgrove? Our Ashgrove Buyer’s Agent is more than happy to have a chat. Please contact us.