Sherwood Buyer’s Agent’s Guide
Are you looking to purchase a home or investment property in Sherwood? As a Sherwood Buyer’s Agent we’d be happy to help and have compiled the following suburb profile for your information. Good luck your Sherwood property purchase!
Sherwood is an affluent, leafy, riverside suburb located 11km southwest of the Brisbane CBD. The suburb is best known for the heritage-listed Sherwood Arboretum. Sherwood is bordered by the suburbs of Graceville, Tennyson and Corinda.
The population of Sherwood in 2016 was around 5,335 and continues to grow. 59.3% of households in Sherwood are owner occupied and consistent predominantly of professional couples with children.
Shops, restaurants and entertainment
Sherwood’s main shopping and café precinct is located along Sherwood Road, East of Sherwood train station.
A centrally located train station provides convenient train connections to the Brisbane CBD in approximately 20 minutes.
The area is home to a number of great private and public schools including St Joseph’s Primary School, St Aidan’s Anglican Girls School (both located just south of Sherwood, in neighbouring Corinda), Christ the King School (located in Graceville), and Sherwood State School.
Parks and Green spaces
Sherwood Arboretum is located in the Western part of the suburb along the Brisbane River and is a large, mostly open green space, best known for its old Kauri trees planted in the early 1900s. There is also a popular large playground and a boardwalk along the Brisbane River.
Most residents commute to the Brisbane CBD for work.
Most and least desirable areas
Character Queenslander homes located in the tree-lined streets west of the train line are most desirable.
Noise can be an issue for properties close to the train line, Sherwood Road, Oxley Road, Honour Avenue and Kitchener Street.
Due to its location close to the Brisbane River, many areas in Sherwood are subject to flooding. Buyers should check the Brisbane City Council Flood Maps (see image below).
Housing type and typical block size
Almost half (48%) of properties in Sherwood are free standing houses.
The suburb is particularly well known for its Queenslander style houses built in the late 1800s and early 1900s. A typical block size for this type of home is 600m2.
Post-war houses also occur in the area. Many of the post war homes have been removed to allow for subdivisions, and the construction of contemporary homes on smaller sized blocks (400m2).
What can my money buy in Sherwood?
The median house price in Sherwood is $897,500 which is well above Brisbane’s median.
The median house price in Sherwood would typically buy a 4 bedroom, 2 bathroom house on a 607m2 block. For example: 6 Lance Street Sherwood – sold for $882,000 in October 2019 (click to view listing and see images below).
The median unit price in Sherwood is: $400,000.
This amount would typically buy a 2 bedroom, 2 bathroom, 1 garage unit in an newer style complex. For example: 14/508 Oxley Road, Sherwood – sold for $393,000 in November 2019 (click to view listing and see images below).
How has the Sherwood property market been performing?
In the last 5 years the median house price has increased by 22.5%. Over the last 10 years, house prices have increased by 3% per annum.
Prices of units in Sherwood have decreased in recent years due to a large number of new unit developments in the area. In the last 5 years the median price of units has decreased by 12%. On average, over the last 10 years unit prices have decreased by 0.6% per annum.
Supply and demand characteristics for Sherwood
- Average Days on Market: Houses 82 days. Units: 97 days.
- On average houses are selling 3% below their list price. Units typically sell 2% below their list price.
- Sherwood’s auction clearance rates are 52% for houses, and 0% for units.
- The average rental yield for houses is 3.59%, compared to 5.07% for units.
- There is a shortage of houses currently listed for sale (1.75%), (There is a large number of units currently listed for sale (6.81%)).
- The rental vacancy rate for houses is 2.31%, compared to units 4.06%.
**Statistics are accurate for December 2019
Thinking about buying a property in Sherwood? Our Sherwood Buyer’s Agent is more than happy to have a chat. Please contact us.
For information about other Brisbane suburbs click here