Hi all,
Interested on some insiders thoughts on Cannon Hill in Brisbane. I've been researching the suburb and noticed a lot of activity planned with the rezoning under the River Gateway Neighbourhood Plan. Prices have understandably jumped and there appears to be plenty of renovation happening and a number of small and medium apartment developments are popping up around the station and along Wynnum Road.
The suburb is well located, 6-8kms from the city with good transport links, good schools and is close to more expensive suburbs such as Morningside, Hawthorne and Bulimba but just doesn't seem to have a lot in the way of local restaurants, cafes and shopping. Council and developers appear to have earmarked the area for gentrification and the $600m East Village project by the developers of Emporium will bring cafes, restaurants, cinema etc helping lift the profile and liveability.
I also notice Council has earmarked funds to develop a new public golf course in the area which can only be a positive...
My budget and the desire for a low maintenance investment option has me focused on apartments. The suburb currently only has 2-3% of housing stock in apartments but this will increase with the new zoning rules and a number of new developments planned for the next few years. What are people's thoughts about the long term prospects for apartments in the area, is demand likely to match supply? The demographics show a large proportion of younger residents moving into the area and a large increase in average income.
Does anyone have any insight into the impact in other areas post - rezoning? Are apartment prices likely to lift as new stock enters the market over the new few years or do people envisage an oversupply and low growth?
Thanks!
Interested on some insiders thoughts on Cannon Hill in Brisbane. I've been researching the suburb and noticed a lot of activity planned with the rezoning under the River Gateway Neighbourhood Plan. Prices have understandably jumped and there appears to be plenty of renovation happening and a number of small and medium apartment developments are popping up around the station and along Wynnum Road.
The suburb is well located, 6-8kms from the city with good transport links, good schools and is close to more expensive suburbs such as Morningside, Hawthorne and Bulimba but just doesn't seem to have a lot in the way of local restaurants, cafes and shopping. Council and developers appear to have earmarked the area for gentrification and the $600m East Village project by the developers of Emporium will bring cafes, restaurants, cinema etc helping lift the profile and liveability.
I also notice Council has earmarked funds to develop a new public golf course in the area which can only be a positive...
My budget and the desire for a low maintenance investment option has me focused on apartments. The suburb currently only has 2-3% of housing stock in apartments but this will increase with the new zoning rules and a number of new developments planned for the next few years. What are people's thoughts about the long term prospects for apartments in the area, is demand likely to match supply? The demographics show a large proportion of younger residents moving into the area and a large increase in average income.
Does anyone have any insight into the impact in other areas post - rezoning? Are apartment prices likely to lift as new stock enters the market over the new few years or do people envisage an oversupply and low growth?
Thanks!