Bulimba Buyers Agent’s Guide
Are you considering buying a home or investment property in Bulimba? Bulimba Buyers Agent, Matt Reeves has compiled the following suburb profile for your information. Good luck with your Bulimba property purchase!
Bulimba is an affluent, riverside suburb located 4km north east of the Brisbane CBD. The suburb is well known for its trendy café and restaurant precincts. Bulimba is bordered by the suburbs of Hawthorne, Balmoral and Morningside.
The population of Bulimba in 2016 was 6,842 and continues to grow. 56% of households in Bulimba are owner occupied and consistent predominantly of professional couples with children.
Shops, restaurants and entertainment
Bulimba’s main shopping and café precinct are located along Oxford St and Riding Rd.
Bulimba has two ferry terminals (Oxford St and Apollo Rd) providing easy access to Brisbane city. Bus services are also available to the CBD.
The area is home to historic Bulimba State School, and is in the catchment area for Balmoral State High School.
Parks and Green spaces
Bulimba Riverside Park, Vic Lucas Park and Bulimba Memorial Park are popular recreation and picnic spots.
Most and least desirable areas
The Bulimba riverfront is home to many luxury homes and units.
Traffic noise can be an issue for properties on Riding and Lytton roads.
River flooding is a major concern for many properties in Bulimba. Buyers should check the Brisbane City Council Flood Maps to assess the flood risk of specific properties.
Air traffic noise in Bulimba is set to increase with the opening of Brisbane’s second runway and is a significant concern for local residents.
The majority of properties (58%) in Bulimba are units and townhouses.
The suburb includes a mix of timber character homes and contemporary styles.
What can my money buy in Bulimba?
The median house price in Bulimba is $1,377,500, which is well above Brisbane’s median.
The median house price in Bulimba would typically buy a large, family home on a good sized block.
For example: 15 Wordsworth Street Bulimba: A 5 bed, 3 Bath, 2 Car house on a 607m2 that sold for $1,400,000 in May 2019 (click to view listing).
The median unit price in Bulimba is: $530,000
This amount would typically buy a 2-3 bedroom unit or townhouse.
For example: 3/32 Cambridge Street Bulimba: A 3 Bed, 2 Bath, 1 Car townhouse that sold for $540,000 in Feb 2019. (click to view listing)
How has the Bulimba property market been performing?
Median house prices have increased by 37.4% in the last 5 years. Over the last 10 years, house prices have increased by 4.5% per annum.
Units in Bulimba have seen a 7.8% decline in their median price over the last 5 years. On average, over the last 10 years unit prices have increased by 1.7% per annum.
Supply and demand characteristics for Bulimba
- Average Days on Market: Houses 80 days. Units: 136 days.
- On average houses are selling 1% below their list price. Units typically sell 3% below their list price.
- Bulimba’s auction clearance rates are 38% for houses, and 33% for units.
- The average rental yield for houses is 2.87%, compared to 4.69% for units.
- There is a balanced supply of houses currently on the market (3.16%), There is a large number of units currently listed for sale (7.75%).
- The rental vacancy rates for houses and units is currently at 4%
**Statistics are accurate for April 2019
Thinking about buying a property in Bulimba? Our Bulimba Buyer’s Agent is more than happy to have a chat. Please contact us.
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