Named after the largest of the Canary Islands, Teneriffe is – along with its 4005 counterpart, New Farm – one of the most affluent suburbs in Brisbane and, as so, has one of the highest demands in the real estate market. Here’s why…
Bought by James Gibbon in the mid-1800s, the 48 hectares were dubbed Teneriffe as the hill where the land stands reminded its owner of Mount Teide, in the Canary Islands. As the years passed and private land became suburb, the area turned into the base of an extremely important wool trading hub, which resulted in its many (now residential and heritage-listed) Woolstores buildings.
Now, almost two centuries later, the area has become a major attraction for a young, high-income demographic looking for the best of what Brisbane’s inner suburbs have to offer.
#1 AMIDST THE BEST OF BRISBANE
Enclosed between New Farm and Newstead, Teneriffe stands a short distance from two of the main hubs in Brisbane and all they have to offer – parks, entertainment, shops and more.
If that is not enough, the multiple public transport lines – buses and ferries – make it fairly accessible to other areas of the city such as the CBD, Bulimba and Hamilton, all of those with a wide range of options whether you are an early bird or night owl.
#2 EVERYTHING, WITHIN ARM’S REACH
And on the topic of lifestyle, it is not just the proximity to other suburbs that makes Teneriffe a lively area. With plenty of restaurants, bars and shops, they barely need to leave the area to find everything they could possibly need. On top of hospitality venues, residents can find supermarkets, chemists, barber shops and hair salons, massage parlours and much more.
Connecting Newstead to New Farm, the Teneriffe Riverwalk is the perfect place for those looking to exercise outdoors and has plenty of picnic spots around for families looking for a relaxing afternoon.
As an extra, the whole suburb is very green, with parks and streets (such as Vernon Terrace and Macquarie Street) with an abundance of trees, creating a sophisticated suburban lifestyle experience.
#3 WELCOMING COMMUNITY
With only 5 thousand people residing in the area and a multitude of options available, it isn’t rare for Teneriffe occupants to cross paths several times during the week, creating an atmosphere of a close-knit community.
The demographic circles around high-income singles (67%) in their 20s and 30s, and a share of families (33%), with a majority of these as renters (57%).
AND MANY OTHERS…
- Be at the epicentre of the yearly and extremely popular Teneriffe Festival
- Experience the Modern Industrial style living in one of the many heritage-listed Woolstores buildings
- Increasing trend on the real estate market prices, both for rental units (4.5% in the past 12 months) and sales in general (27.5% in the past 12 months).
With so much to offer, it is no surprise Teneriffe’s Real Estate market remains amidst the most sought-after in Brisbane, with very low vacancy rates.
As a landlord or a tenant, such a premium area demands a premium experience provided by experienced professionals – at Odyssey Property Concierge we pride ourselves on our immaculate 5-star ratings, with a team highly accomplished on the Teneriffe estate market.
Contact us for a rental appraisal or to know more about how you can make the most of your investment property.
–––––––––––
(Data presented collected from suburb profile on realestate.com.au and domain.com.au)
