Kelvin Grove Buyers Agent’s Guide

There are many great opportunities to purchase homes or investment properties in Kelvin Grove. As local Buyers Agents, we have compiled the following suburb profile for your information.  Best wishes for your Kelvin Grove property purchase!

Description

Kelvin Grove is an inner city Brisbane suburb located 3km north of the CBD. Surrounding suburbs include Red Hill, Herston, Newmarket and Ashgrove.  Kelvin Grove is home to a major university, and its close proximity to the city makes it popular with students and professionals.

Kelvin Grove Map

Demographics

The population of Kelvin Grove in in 2016 was around 7,913 having grown significantly in recent years. Many properties (62%) in Kelvin Grove are investor owned, and cater mainly for students and young professionals.

Shops, restaurants and entertainment

Kelvin Grove’s main shopping and café precincts is located around the university campus, in an area called the Kelvin Grove Urban Village.  The suburb is also home to an independent theatre (La Boite) and adjoins the Victoria Park Golf Course.

Transport

Bus services connect Kelvin Grove with the Brisbane CBD via Inner Northern Busway and Kelvin Grove Road.  Kelvin Grove is also likely to benefit significantly by the Brisbane Metro Project which is due for completion in 2023.

Schools

The area is close to a number of great private and public schools including Kelvin Grove State College; Brisbane Boys and Girls Grammar Schools, and St Joseph’s College, Gregory Terrace.  The Queensland University of Technology (QUT) also has a major campus in Kelvin Grove

Major employers

Major employers in the area include QUT and the Royal Brisbane and Women’s Hospital (RBWH) in nearby Herston.

Housing type and typical block size

The vast majority (71%) of properties in Kelvin Grove are apartments.  Houses are mostly timber character homes on small-sized blocks, with some newer/infill developments.

What can my money buy in Kelvin Grove?

The median house price in Kelvin Grove is currently $812,500.

The median house price in Kelvin Grove would typically buy a 3 bed, 2 bath, 1 Car property on a small sized block.

For example: 17 Horsburgh Street Kelvin Grove which sold for $830,000 in April 2019 (click to view listing and see images below)

Buying a House in Kelvin Grove

The median unit price inKelvin Grove is currently $412,500

This amount would typically buy a newer-style 2 bed, 2 bath apartment.

For example: 31/40 Ramsgate Street Kelvin Grove which sold for $422,000 in February 2019 (click to view listing and see images below)

Buying a Unit in Kelvin Grove

How has the Kelvin Grove property market been performing?

In the last 5 years, the median house price has increased by 24.8%. Over the last 10 years, house prices have increased by 2.8% per annum.

Units in Kelvin Grove have fallen in price by 13.5% over the last 5 years, and are now selling at a similar level to 10 years ago.

Supply and demand characteristics for Kelvin Grove

  • Average days on market: Houses 43 days.  Units:  92 days.
  • On average houses are selling 2% below their list price. Units typically sell 4% below their list price.
  •  Kelvin Grove’s auction clearance rates are 71% for houses, and 20% for units.
  • The average rental yield for houses is 3.24%, compared to 5.14% for units.
  • The rental vacancy rate for both houses and units is 3.9%.

**Statistics are accurate for June 2019

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

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