Red Hill Buyers Agent’s Guide
Our office is located on Enoggera Terrace, Red Hill. We are local area experts and we would love to assist you to purchase a home or investment property in Red Hill. Our Red Hill Buyers Agent has compiled the following suburb profile for your information:
Red Hill is a historic, inner-city suburb of Brisbane 3km north west of the CBD. The suburb has several landmark heritage listed buildings including St Brigid’s Church on Musgrave road and the Skate Arena on Enoggera terrace which was partly destroyed by fire on Boxing Day in 2002. Red Hill is also home to rugby league’s Brisbane Broncos who have their main training facility on Fulcher Road. Red Hill is bordered by the suburbs of Paddington, Ashgrove, Kelvin Grove and Spring Hill.
The population of Red Hill in 2016 was around 5,565. 50.6% of households in Red Hill are owner occupied. Residents are mainly young professionals (average age 20-29 years).
Shops, restaurants and entertainment
Red Hill’s main shopping area is along Musgrave Road. There are a number a cafes dotted across the suburb including on Enoggera Terrace, Kennedy Terrace and Windsor Road. It is only a short walk to Paddington’s main café precinct on Latrobe Terrace.
Several bus services connect Red Hill with the Brisbane CBD via Musgrave Rd, Arthur Terrace and Latrobe Terrace
The area is close to some of Brisbane’s best provate schools including Brisbane Boys and Girls Grammar Schools, and St Joseph’s College Gregory Terrace. Red Hill is also in the catchment for Petrie Terrace State School and the prestigious Kelvin Grove State College.
Parks and Green spaces
There is a network of walking and bicycle paths which follow along Ithaca creek providing a beautiful green space for local residents.
Housing type and typical block size
The majority (62%) of properties in Red Hill are free standing character homes that were built in the early 1900s. The typical block size would be around 400m2.
What can my money buy in Red Hill?
The median house price in Red Hill is $885,000 which is well above Brisbane’s median.
The median house price in Red Hill would typically buy 3 Bed, 1 Bath, character cottage. For example: 4 Scott Street Red Hill – sold for $870,000 in November 2018 (click to view listing)
The median unit price inRed Hill is: $480,000
This amount would typically buy 2 Bed, 2 Bath, Townhouse. For example: 3/20 Lemnos Street Red Hill –sold for $450,000 in February 2019 (click to view listing)
How has the Red Hill property market been performing?
In the last 5 years the median house price has increased by 23.3%. Over the last 10 years, house prices have increased by 3.1% per annum.
Units in Red Hill have seen more modest price growth. In the last 5 years the median price of units has increased by 14%. On average, over the last 10 years unit prices have increased by 1.8% per annum.
Supply and demand characteristics for Red Hill
- Average Days on Market: Houses 70 days. Units: 60 days.
- On average houses are selling 2% above their list price. Units typically sell 4% above their list price.
- Red Hill’s auction clearance rates are 43% for houses, and 66% for units.
- The average rental yield for houses is 3.46%, compared to 3.95% for units.
- There is a shortage of houses currently listed for sale (1.71%), (There is a balanced number of units currently listed for sale (2.81%)).
- The rental vacancy rate for houses is 3.9%, compared to units 3.9%.
**Statistics are accurate for April 2019
Thinking about buying a property in Red Hill? Our Red Hill Buyer’s Agent is more than happy to have a chat. Please contact us.
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