Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Friday, 27 February 2015

Kangaroo Point


One of the more popular locations in Brisbane: Kangaroo Point.

The northern edge of the penninsula is where the Story Bridge crosses to the Central Business District (CBD) and to Fortitude Valley.

The clifftops are also an attraction, in particular The Cliffs Cafe, which is where I took this photo from yesterday. 

The suburb is popular with rock climbers and lizards, and being a pleasant area, it has five parks.

Between 2006 and 2011 the population of the suburb increased by 1 percent from approximately 6,900 to 7,000 reflective of the fact the suburb is not being pumped with new supply in the same many inner Brisbane locations are.

However, adjacent suburbs such as Woolloongabba, Highgate Hill, West End and South Brisbane are set to be awash with new units which will almost certainly keep an effective lid on generic apartment prices here, as too will new tower blocks in the CBD itself.

2 bedroom unit prices in Kangaroo Point start in the low-to-mid $300,000s range, with median unit prices sitting at ~$500,000, but personally I believe there are better places to invest your money.

Median house prices are closer to ~$750,000, with a high proportion of the suburb made up of childless couples (38 percent) and renters (60 percent).

Those with mortgages are generally repaying $1,800 to $2,400 per month in repayments.

There is a city ferry service from Holman Street Pier or the city can be accessed by bus.