Property in Algester is being snapped up faster than anywhere else in the Greater Brisbane area.
CoreLogic data shows Algester is averaging 23 days on the market, the least amount of days on the market.
Chermside is trailing behind with 24 days on the market, and Wishart at 29 days.
In Ipswich, the top performer is Ebbw Vale with 49 days on the market and on the Gold Coast, Palm Beach sits at 41 days.
Kasie Lane and her husband are selling their highset, four-bedroom home at Algester’s Cooloon Place after moving to Ayr for work.
Mrs Lane, a mother-of-two, said the family were looking to buy a property up north and needed to sell their Brisbane home.
“Our home at Algester is on a 898sq m block, fully renovated and close to shops and schools,” Mrs Lane, 38, said.
“We lived here for 2.5 years before moving to Ayr. It’s what we always wanted – a big block and a big home in a quiet area.
“Algester has lots of green space, and is just two minutes drive away from a massive park.”
Belle Property Calamvale principal Andrea Manson said Algester was a popular area for first home buyers and also investors.
“Calamvale, Parkinson and Sunnybank Hills have become quite expensive and people have seen the value in Algester,” Ms Manson said.
“The bus service is great, it’s close to schools and not far from the Logan Motorway — it’s only about 16km from the Brisbane CBD.”
A July property report by Herron Todd White advises anyone with a “lazy” $500,000 to invest in Algester – the suburb has received great interest due to the flow on from increased prices in Sunnybank Hills and Runcorn in the past 12 months.
REIQ CEO Antonia Mercorella said it was no surprise suburbs such as Algester, Wishart and Chermside were popular, and therefore sold quickly.
“These suburbs have all the raw ingredients buyers are looking for,” Ms Mercorella said.
“Following the recent upgrade to the bus transit lanes, it is now possible to catch a direct bus from Chermside, which is about 11kms from the CBD, into the city in under 25 minutes.
“This makes it an easy commute for many workers. The new expansion of Westfield Chermside will create the largest shopping centre in Queensland, if not the country, offering myriad retail opportunities for locals, and the new North Brisbane Business Centre and public library is due for completion at the end of the year.”
She said it was similar for Algester and Wishart.
“These suburbs are affordable and well-serviced with a range of exceptional facilities and schools, which attract families,” she said.
“They also present good buying opportunities for investors who are looking for affordable areas with good demand for rental accommodation.
“With the current low interest rates and positive population growth, it is hoped that sustainable, steady growth continues for the foreseeable future.”
Chris Hubka from LJ Hooker Algester said the result did not surprise him.
“We have huge demand for good homes and they are always selling fast,” Mr Hubka said.
“A combination of affordability and a good family friendly suburb make it an ideal place to start or grow a family or for investment.”
Mr Hubka said strong rental demands made it a good place to invest for future growth.
This Chermside house at 14 Hodgkinson St goes to auction on July 23. Photo: realestate.com.au(Brisbane) Average days on the market
Algester 23
Chermside 24
Wishart 29
Keperra 30
Mansfield 31
(Ipswich) Average days on the market
Ebbw Vale 49
Newtown 58
Eastern Heights 65
Silkstone 65
Yamanto 66
(Gold Coast) Average days on the market
Palm Beach 41
Highland Place 42
Varsity Lakes 44
Merrimac 47
Currumbin 47
Original article published at www.couriermail.com.au by Reshni Ratnam 06/7/16