Coorparoo Buyers Agent’s Guide
Are you looking to purchase a home or investment property in Coorparoo? As a Coorparoo Buyers Agent we’d be happy to help and have compiled the following suburb profile for your information. Best wishes with your Coorparoo property purchase!
The population of Coorparoo in 2016 was around 16,284 and continues to grow. 52.7% of households in Coorparoo are owner occupied and consistent predominantly of young couples working in professional occupations.
Shops, restaurants and entertainment
Coorparoo’s main shopping and café precinct is located on the intersections of Cavendish and Old Cleveland road, in a new development know as Coorparoo Square.
It is a 20 minute train ride from Coorparoo Station to the Brisbane CBD
Most residents commute to the Brisbane CBD for work.
Most and least desirable areas
Traffic noise can be an issue for properties close to major thoroughfares including Old Cleveland Rd, and Cavendish Rd. Buyers should check the Brisbane City Council Flood Maps, as some areas (especially north of Old Cleveland Rd) are susceptible to flooding.
Housing type and typical block size
The vast majority (61%) of properties in Coorparoo are apartments.
The suburb is also well known for its Queenslander style houses. These timber character homes were built in the early 1900s and are typically found on 400-600m2 blocks.
What can my money buy in Coorparoo?
The median house price in Coorparoo is $916,000 which is well above Brisbane’s median.
The median house price in Coorparoo would typically buy a 3-4 bedroom, 1 bathroom house on a 600m2 block. For example: 11 Kenneth Street Coorparoo – sold for $916,000 (Nov 2019) – click to view listing and see images below.
The median unit price in Coorparoo is: $370,000
This amount would typically buy a 2 bedroom, 1 bathroom unit in an older style. For example: 9/35 Kitchener Street Coorparoo – sold for $375,000 (Nov 2019) click to view listing and see images below.
How has the Coorparoo property market been performing?
In the last 5 years the median house price has increased by 28.1%. Over the last 10 years, house prices have increased by 3.9% per annum.
The median price of units units in Coorparoo has fallen by 4.6% in the last 5. On average, over the last 10 years unit prices have increased by 0.2% per annum.
Supply and demand characteristics for Coorparoo
- Average Days on Market: Houses 60 days. Units: 80 days.
- On average houses are selling 6% below their list price. Units typically sell 7% below their list price.
- Coorparoo’s auction clearance rates are 30% for houses, and 0% for units.
- The average rental yield for houses is 3.1%, compared to 5.13% for units.
- There is a shortage of houses and units currently listed for sale (1.38% and 1% respectively),
- The rental vacancy rate for houses is 1.94%, compared to units 1.02%.
**Statistics are accurate for February 2019
Thinking about buying a property in Coorparoo ? Our Coorparoo Buyer’s Agent is more than happy to have a chat. Please contact us.
For information about other Brisbane suburbs click here.