Holland Park West – Buyers Agent’s Guide
Are you looking to purchase a home or investment property in Holland Park West? As a Holland Park West Buyer’s Agent we’d be happy to help and have compiled the following suburb profile for your information. Best wishes with your Holland Park West property purchase!
Holland Park West is an up and coming suburb located 10km South East of the Brisbane CBD. Holland Park West is best known for its proximity to the city and Griffith University located to the south of the suburb. The suburbs of Salisbury, Tarragindi, Annerley, Greenslopes, Holland Park, Mount Gravatt East and Mount Gravatt border Holland Park West.
The population of Holland Park West in 2011 was around 5,970 and continues to grow. 63.9% of households in Holland Park West are owner occupied and consistent predominantly of professional couples with children.
Shops, restaurants and entertainment
Holland Park West’s main shopping and café precinct is located around Logan Road. Garden City and Westfield Carindale shopping centres are also only a short drive away.
Holland Park West is located on the South East Busway providing a convenient connection with the Brisbane CBD.
The Pacific Motorway in the western part of the suburb provides motorists with access to the city and the Gold Coast.
The area is home to a number of great private and public schools including: St Joachim’s Catholic Primary School, Holland Park High School and Marshal Road State School.
Parks and Green spaces
Joachim Street Park and Balis Street Park meander through the centre of the suburb along the Glindeman Creek.
The beautiful Toohey Forrest Park is located just south west of the suburb providing kilometres of tranquil bush walking paths and picnic spots.
Mount Gravatt Lookout located south east of Holland Park West is a popular vantage point with sweeping views of the Brisbane CBD.
Griffith University in the neighbouring suburb of Mt Gravatt is a major employer in the area. Many 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 the Pacific Motorway, Logan Road and Marshall Road. Buyers should check the Brisbane City Council Flood Maps, as some areas (especially streets located close to the Glindeman creek) are susceptible to flooding.
Housing type and typical block size
The vast majority (71%) of properties in Holland Park West are free standing houses.
Post-war lowset weatherboard houses on decent size blocks dominate the suburb. As the suburb’s popularity continues to grow, many of those houses are renovated or demolished and replaced with newly built contemporary residences. A typical block size for the suburb is around 600m2, but larger blocks are not uncommon.
What can my money buy in Holland Park West?
The median house price in Holland Park West is $685,000, which is above Brisbane’s median.
The median house price in Holland Park West would typically buy a 3 bedroom, 2 bathroom house on a 635m2 block. For example: 22 Dodwell Street – sold for $690,000 (Jun 2017) Click to view listing.
The median unit price in Holland Park West is: $393,000
This amount would typically buy a 3 bedroom, 2 bathroom, 1 garage unit in an older style complex in good condition. For example: 3/27 Oatland Crescent – sold for $375,000 (May 2017) click to view listing.
How has the Holland Park West property market been performing?
In the last 5 years the median house price has increased by 27%. Over the last 10 years, house prices have increased by 6.3% per annum.
Units in Holland Park West 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 3.5% per annum.
Supply and demand characteristics for Holland Park West:
- Houses are typically selling within 45 days (Units typically sell within 78 days).
- On average, houses are selling 5% below their list price. (Units typically sell 8% below their list price).
- The auction clearance rate for houses is 40% (compared to 50% for units).
- The average rental yield for houses is 3.6% (compared to 4.95% for units).
- There is a shortage of houses currently listed for sale (1.43%), (There is a large number of units currently listed for sale (5.25%).
- The rental vacancy rate for houses is 2.4% (units 2.4%).
**Statistics are accurate for July 2017
Thinking about buying a property in Holland Park West? Our Holland Park West Buyer’s Agent is more than happy to have a chat. Please contact us.
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