QLD Coorparoo

Coorparoo (QLD) – still time to jump on the bandwagon ??

Coorparoo, which is only 4Km from City, seems to be going through a major gentrification thanks to the activity/hype created by the Coorparoo Square development.

It is a mix of residential & commercial with some industry along the rail line, it’s recognised for its hillside character and pre-war housing. Mostly owner-occupied suburb.
Mostly zoned as low-medium residential with parts as Character residential, mixed use zoning on Old Cleveland road and District Centre zoning at Coorparoo Junction.
Coorparoo has its very own train station as well.
There is some flood areas to watch for towards the train line.

Demographics –

• Mostly young population (33years median age) – ~70% are less than 45years.
• Mostly professionals, managers, admin & sales workers – ~72%

Coorparoo : Region Data Summary


Here is what Council is doing to play its part in the makeover of Coorparoo.
https://www.brisbane.qld.gov.au/sit...19_-_norman_creek_master_plan_-_coorparoo.pdf


An old article, but still valid – The Coorparoo transformation begins
Coorparoo Square @ Coorparoo Junction.
A 3-tower high rise city-view Apartments, Cafes, Restaurants, Dendy Cinemas, Aldi Supermarket. And a future underground busway terminal directly under this development.
Where is Coorparoo Square – Old Myer building (which has now been demolished to enable new building) located on Old Cleveland road. Right next to the RSL club, Woolworths, Coles, 3 major Banks and existing shops precinct.

Coorparoo Square on the Architecture exhibition in Brisbane –
Architecture exhibition shows off Brisbane's future personality

Property prices are on the rise in the suburb and i think it may continue to happen for another 2-3 years given all the activity that is taking place.

Thoughts ?

 

@teetotal
are you looking for houses? imho, I thought Coorparoo is almost done… I like hollandpark & mg/e but I have to work hard on my numbers.. but thats only for my situation

 

Fumdamentals of cooparoo cannoy be beat..but watch out for small pockets of oversupply and if there are any flooding risks.
The growth it has already showed in this cycle shows how strong the fundamentald are. Id say it got more in the tank this cycle. Wont get any bargains though. Medium term will be laughing with high appreciation to what it is now. For thr short ter- next 3 yrs..Might have higher short term growth in neighbouring suburbs.

 

Exactly my thoughts. Even though it has seen some growth but it still has more to come and definitely the game in Coorparoo is for 5 to 10years.

 

Houses are out of my budget atm but still some old units can be found under 400K which can have some cosmetic touch up.
Especially those close to Coorparoo Square will benefit from its activities.

 

@beachgurl .... how is your sale going in Cooparoo?

 

For a house? Sure!

But I've always found it too expensive for what we can get not too far away.

 

Even for a unit.
Knowing that a lot of stock is going to come in market but at the same time new population is also expected to make a move into the suburb.
Short term is definitely low CF with high stock coming up but CG should be higher to compensate that in the longer term.
This suburb currently is a high demand market so more supply is being pumped in. However I think it is still not going to be enough. Given that the supply of stock is not the only thing that is being pumped in, but also infrastructure to attract more demand and sustain that supply.
I think those units currently under 400K will gain momentum and reach 500K in next 2-4 years.

 

Has had a good run but still some value in houses.

I'd spend the same money a few km further out though.

If you're set on Coorparoo, and set on a unit, I'd be looking for an really big, old one in a small walkup with unique features (huge garage, wrap around balcony, private courtyard, city views etc).

 

No offers yet but a few interested parties

 

OK....that is great....

 

For all the Brisbane experts, does this one look like good value, seems cheap close to the city and gentrified area. Or would this come under the oversupply of apartments talk?
5/56 Pembroke Road, Coorparoo
http://www.domain.com.au/2013353720

 

Just depends on the location,and there is nothing wrong with that property if it was 251k,plus this may only be the start of the sell-offs..imho..

 

2-1-1 in in that location..for 250k.. Every single Mexican is boarding a flight right now to inspect...but, pictures always look good. Look carefully, there could be hidden issues with this? May or may not be significant. Watch for any flooding??
I wouldn't think the impact of oversupply will hit this much (some degree yes, buy not much) as this is an older style with limited nber in the complex.

 

+1, something fishy !!
Check strata minutes for any upcoming special levies.

 

Thanks all, haven't looked too much into it .Not looking at buying now, just back to research stage. Trying to find a growth suburb.