Facing Teneriffe and Newstead from across the river resides one of the best suburbs to live in Brisbane. With a high quality of life and suburban feel, Bulimba remains among the ten most affluent suburbs to live in the area.
With its founding dating back to the mid-1800s, Bulimba started as a farming settlement with only a school and a church, growing to an average of 2000 people population by the end of the century. The suburb used to occupy two-thirds of the Bulimba Creek area and only had a local government division formed in 1880, extending from Woolloongabba to Moreton Bay.
In the 1900s the area grew exponentially, especially around Oxford Street – now the lively village it’s become. In 2001, Bulimba was the number one growth area (in prices) according to REIQ with a median weekly income of the residents 16% higher than the metropolitan median.
Almost two hundred years later, Bulimba remains one of the best places to live in Brisbane. Here’s why:
#1 QUALITY OF LIFE
Separated from the CBD area by the Brisbane River, Bulimba has managed to keep its suburban lifestyle despite its proximity to highly developed suburbs such as Newstead. Very green and leafy, and with several parks and amenities throughout, Bulimba offers its residents everything they could possibly need without the pandemonium of central areas.
With easy access to schools, CityCat and ferry services, and easy access to both the south and north sides of Brisbane (only one ferry stop from Bulimba to Teneriffe) – it’s no wonder the area is in the Top-10 best suburbs in Brisbane.
#2 HIGH-VALUE PROPERTY MARKET
Data available shows that Bulimba has had a spike in growth over the past couple of years (2020-22) but it seems far from settling down. With more and more people looking to move into the area, the trend is for property values to keep increasing over the years.
In the past 12 months alone, Bulimba has had a median growth of 13% in selling prices and 2.2% in rentals, with an average of $935 per week for houses and $600 per week for units. According to data available, in the last year over 400 properties have been successfully leased with an average of 14 days on the market.
With this in mind, Bulimba has a huge appeal to property investors looking to expand (or start) their portfolio.
EVEN MORE REASONS…
- Close proximity to the nightlife in New Farm and Teneriffe, plus everything that the suburb itself has to offer: lots of cafes, restaurants and entertainment;
- The beautiful Bulimba Riverside Park, Memorial Park and the Bulimba Golf Club at arms reach;
- The beautiful architecture all around with several heritage-listed buildings for History lovers;
With so much to offer, it is no surprise Bulimba real estate market remains among the most sought-after in Brisbane, with very low vacancy rates.
And no investment is complete without experienced professionals to look after it – at Odyssey Property Concierge we pride ourselves on our immaculate 5-star ratings, with a team highly accomplished on the New Farm estate market.
Contact us for a rental appraisal or to know more about how you can make the most of your investment property.
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(Data presented collected from suburb profile on realestate.com.au on April/23)
