QLD Sunnybank vs Holland Park/Moorooka

I am looking at Brisbane Southside atm, and can not understand why Sunnybank is so expensive?

The median for Sunnybank is $757k, surely people will see more value closer to city? such as Moorooka $547k or Holland Park $680k. Sure the suburb is concentrated with a lot of Asians, but I still don't understand why they don't buy next to or closer Sunnybank?

Runcorn is next to Sunnybank with a median of only $467k

 

Anywhere south with an Asian influence prices are inflated due to international money flowing in, the Asian community will pay whatever it takes to live where they want to live, they are very competitive and cash deals happen often.
If you can get your foot it the door it's worth it, as these suburbs almost run on a different economy to the rest of Brisbane impervious to other market forces. I got in many years ago but very happy now as capital gains have been very healthy indeed.
If you can get into Runcorn for $460k go for it, try for North of the train line, you can also try Algester which is benefiting from Asian influence that can't afford surrounding suburbs.

 

The chinese will buy for prestige and the fengshui is supposedly good in sunnybank.

 

agreed...similar thought process in Sydney and Melbourne eg glen Waverley. Wouldn't say 100% impervious to market forces, but I know what you are saying...

 

So what other suburbs in BCC has a good Asian influence?

 

This was the main reason I purchased in runcorn. Massive disparity from one suburb to the next. Have seen it in Sydney with Eastwood which is predominantly Asian. Surrounding suburbs like Epping/ryde have ridden the wave.

 

The ones that can't afford Sunnybank or Eight mile plains buy in Sunnybank Hills or surrounding suburbs. Some of these such as Algester or Runcorn as you mentioned are much cheaper and might have more room for growth.
I agree with you regarding Holland Park, its much closer to the city with great views in some parts but it also doesn't have the shops, restaurants and buzz either.
I have only been getting a yield in the 3s in Sunnybank for a couple of years so I thought it was looking fully valued but it has continued to keep rising. The market there doesn't follow logic or what the rest of Brisbane does IMO.
I would consider buying in an adjacent suburb if I was looking at middle/outer ring southside personally.

 

Yes, this is my thoughts too...you can buy in a suburb closer to Brisbane CBD, ride the Sunnybank wave, along with the CBD ripple effect. Hence suburb like Moorooka/Holland Park are better valued in my opinion. I don't see rental for Sunnybank any significant higher.

 

• Sunnybank hills
• Eight mile plains
• Calamvale
• Algester
• Robertson
• Macgregor
• Upper mount Gravatt

 

Yep and Parkinson.

 

Thanks @seanbrissy, Interesting that all the above suburbs are in one cluster with none on north side.

 

@seanbrissy
Do you think this will continue? ie do you think the Asian , especially chinese money will continue to pump up prices in certain areas more than surrounding areas like it did in Sydney and Melbourne equivalents?
I think it will...but not to the same degree that Sydney and Melbourne experienced.

 

I am fairly confident Moorooka has room to move for a few reasons, including its lower price point than surrounding suburbs (many of which are gentrifying).

Just had a quick look on realestate.com.au heat maps. Pricing differences on houses is surrounding suburbs:

Annerly = +16%
Tarragindi = +22%
Yeronga = +34%
Sunnybank = +21%

A few are lower too, but they have their reasons (e.g. big swathes of industrial like Salisbury, Rocklea, Coopers Plains).

Runcorn does look likely to benefit from the big prices in Sunnybank too.

 

This is right..I don't remember where, but I remember reading an article that said if the neighbouring suburb has median of 5-10% above your suburb, then it's a prime candidate for ripple effect...

 

The next decades of Chinese, I reckon, will be Indians. They will do the same thing, study, spend, buy property, overseas money etc. How about Indians influenced suburbs ?

 

Darra.

 

fully agree. They have in the past favoured the US for the stuff you mentioned above, and probably still do, but Aus has much more an influence as a viable and credible alternate destination than it had say 10 yrs back. As far as suburbs go, don't know...but id suspect that they are not as fixated as the Chinese to particular suburbs- they will be much more distributed and not localised.

 

Yes they are certainly driving up demand, I have seen a few of them flying up from Sydney as well. However they seem to be a bit more rational compare to some of the Chinese Buyers. That is me being objective.

 

Holland Park has nothing left to offer, should have bought pre 2013, developers bought all the old houses and went door to door with offers.

 

All of them?