Wavell Heights Buyer’s Agent’s Guide

Are you looking to purchase a home or investment property in Wavell Heights? As a Wavell Heights Buyer’s Agent we’d be happy to help and have compiled the following suburb profile for your information. Best wishes with your Wavell Heights property purchase!

Description

Wavell Heights is a suburb located 9km North of the Brisbane CBD. It is a quiet, residential area popular with young families.   Wavell Heights is bordered by the suburbs of Kedron, Chermside, Geebung, Virginia, Northgate, Nundah and Wooloowin.

Wavell Heights Brisbane Map

Demographics

The population of Wavell Heights in 2011 was around 9,430 and continues to grow. 71.4% of households in Wavell Heights are owner occupied and consistent predominantly of professional couples with children.

Shops, restaurants and entertainment

Wavell Heights is a quiet residential suburb.  A cafe culture is beginning to emerge with several small venues popping up in local streets. There are several large shopping centres within only a few minutes’ drive, including Nundah Village, Toombul Shopping Centre and Westfield Chermside Shopping Centre.

Transport

Nundah, Virginia, Toombul and Northgate train stations are only a short drive away providing access to the CBD in less than 20 minutes. Busses also connect Wavell Heights with the neighbouring suburbs and the Brisbane CBD. The suburb is conveniently located between Gympie and Sandgate Roads making it easily accessible for motorists.

Schools

The area is home to a number of great private and public schools including Our Lady of the Angels Catholic School, Wavell Heights State School and Wavell State High School

Parks and Green spaces

Wavell Heights is home to 15 different parks with playgrounds, sports facilities, dog parks, picnic areas and barbecues.  7th Brigade Park (located to the north of the suburb) is home to a popular Kidspace playground and a dog park. It is also home to Parkrun, a regular Saturday morning run which attracts hundreds of runners every week.

Shaw Park (located on Kedron Brook) contains sporting fields and tennis courts.

Kedron Brook Bikeway connects cyclists to the city and Nudgee Beach.  It is also a great place to walk the pooch!

Keith Boden Wetlands is popular with bird enthusiasts.

Major employers

Many residents commute to the Brisbane CBD for work. Brisbane Airport is also a major employer in the area.

Most and least desirable areas

Elevated properties with Brisbane city views and lovely summer breezes are certainly the most desirable.

Traffic noise can be an issue for properties close to major thoroughfares, including Sandgate Road, Rode Road, Edinburgh Castle Road, Hamilton Road and Pfingst Road. As with most Brisbane suburbs, buyers should check the Brisbane City Council Flood Maps, as some areas (particularly streets close to Kedron Brook and Downfall Creek) are susceptible to flooding.

Housing type and typical block size

The vast majority (88%) of properties in Wavell Heights are free standing houses.

The suburb is particularly well known for its post war weatherboard houses. A typical block size for this type of home is 600m2. Many contemporary homes have also been constructed in recent years.

What can my money buy in Wavell Heights?

The median house price in Wavell Heights is $655,000, which is above Brisbane’s median.

The median house price in Wavell Heights would typically buy a 4 bedroom, 1 bathroom house on approximately 600m2. For example: 36 Handcroft Street – (sold for $662,250, August 2017, click to view listing).

Buying a Home in Wavell Heights

The median unit price in Wavell Heights is $365,000

This amount would typically buy a 2 bedroom, 1 bathroom, 2 garage unit in an older style complex, but in a very good condition. For example: 1/45 Kinmond Avenue sold for $388,000, April 2017 (click to view listing)

Buying an Investment Property in Wavell Heights

How has the Wavell Heights property market been performing?

In the last 5 years the median house price has increased by 31.7%. Over the last 10 years, house prices have increased by 5.4% per annum.

Units in Wavell Heights have experienced falling prices over recent years. In the last 5 years the median price of units has decreased by 16.5%. On average, over the last 10 years unit prices have increased by 0.4% per annum.

Supply and demand characteristics for Wavell Heights

  • Houses are typically selling within 52 days.  Units typically sell within 117 days.
  • On average houses are selling 7% below their list price. Units typically sell 8% below their list price.
  • Wavell Heights’s auction clearance rates are 55% for houses, and 0% for units.
  • The average rental yield for houses is 3.6%, compared to 5.15% for units.
  • There is a shortage of houses currently listed for sale (1.69%),  There is a balanced number of units currently listed for sale (2.43%)).
  • The rental vacancy rate for houses is 4.1%, same as units 4.1%.

 

**Statistics are accurate for July 2017

 

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

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