The Gap Buyers Agent’s Guide

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

Description

The Gap is a leafy family friendly suburb located 9km North West of the Brisbane CBD and at the foothills of Mt Coot-tha. The Gap is home to Walkabout Creek, a wildlife education centre and a great spot to enjoy Enogerra Reservoir either by foot, bike or canoe! The Gap is bordered by the suburbs of Ashgrove, Bardon and Upper Kedron.

Demographics

The population of The Gap in 2016 was around 16,709 and continues to grow. 83% of households in The Gap are owner occupied and consistent predominantly of professional couples (aged 40-49 years) with children.

Shops, restaurants and entertainment

The Gap’s main shopping and café precinct is located at the Gap Village Shopping Centre on Waterworks Road.

Transport

Convenient bus services connect The Gap with the Brisbane CBD via Waterworks Road.  There are park and ride stations located at Illowra St and the Enoggera Reservoir.

Busses are able to use the T2 transit lanes during peak times which makes the commute to and from the city by public transport quicker compared to traveling by car.

Schools

The Gap is well known for its excellent state primary and high schools including The Gap State School, Hilder Road State School, Payne Road State School and The Gap State School.  The area is also home to St Peter Chanel Primary School (private).

Parks and Green spaces

There is an abundance of parks, sports grounds and green spaces in the suburb. Mt Coot-tha State Forest and D’Aguilar National Park are only a short drive away.

Local residents can also use bicycle paths to commute to the CBD.

Housing type and typical block size

The vast majority (87%) of properties in The Gap are free standing houses.

The majority of houses in The Gap are double storey brick and tile homes built around the 1980s.  The average block size is 600m2.

What can my money buy in The Gap?

The median house price in The Gap is $691,000 which is slightly above Brisbane’s median.

The median house price in The Gap would typically buy a 4 bedroom, 2 bathroom house on a 600m2 block.

For example: 4 Gregsue Court The Gap – sold for $690,000 in February 2019 (click to view listing)

Buying a home in the Gap

The median unit price in The Gap is: $485,000

This amount would typically buy a 3 bedroom, 2 bathroom townhouse in an older style complex in good condition.

For example: 49/1060 Waterworks Road The Gap – sold for $485,000 in March 2019 (click to view listing)

How has the The Gap property market been performing?

In the last 5 years the median house price has increased by 19.7%. Over the last 10 years, house prices have increased by 3% per annum.

Units in The Gap have seen more modest price growth. In the last 5 years the median price of units has increased by 6.5%. On average, over the last 10 years unit prices have increased by 1.4% per annum.

Supply and demand characteristics for The Gap

  • Average Days on Market: Houses 29 days.  Units:  40 days.
  • On average houses are selling 1% below their list price. Units typically sell 3% below their list price.
  • The Gap’s auction clearance rates are 33% for houses, and 0% for units.
  • The average rental yield for houses is 3.96%, compared to 5.3% for units.
  • There is a shortage of houses currently listed for sale (1.29%). No data is available for units.
  • The rental vacancy rate for houses and units is 2.2%.

**Statistics are accurate for June 2019

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

For information about other Brisbane suburbs click here.