Old and established Brisbane suburbs with large blocks of land, such as the Kenmore property market, remain in demand with buyers seeking opportunities to buy and renovate a home. This demand has set off Kenmore’s growth of more than 15 per cent during the 12-month period ending September 2021.
- The Kenmore property market had a substantial 15.16 per cent increase for the period of October 2020 to September 2021. On the other hand, the unit market had a slight increase of 1.81 per cent for the same period.
- The median house price for this period has reached $870,000 whilst the median unit price settled at $690,750
- Property values in Kenmore have consistently tracked an upward trend for the past few years.
Kenmore House Price Growth
According to Property Market Updates, Kenmore had a 15.16 per cent rise during the period of October 2020 to September 2021, which has placed the median house price at $870,000, up from $755,700 in the previous year.
For this said period, 200 houses were sold in Kenmore within an average of 30 days on the market, showing strong buyers’ competition. Most of these buyers have been looking to invest in their second or third house as their family grows.
Four-bedroom homes have had the highest sales in Kenmore, driving the house price growth upward. However, it’s three-bedroom properties that sold the fastest at 17 days on the market.
Kenmore Unit Price Growth
Kenmore’s apartment market for October 2020 to September 2021 had minimal growth at 1.81 per cent with a median unit price of $690,750, a small bump from $687,477 in the previous year.
Thirty-two units were sold during this period for an average market listing of 22 days. Unit dwellers in Kenmore consist of locals, downsizers, or retirees who still want to remain close to the city. Some, however, are investors who rent out their units whilst they stay in bigger homes within the suburb.
Unit prices in Kenmore, however, have consistently trended upward despite modest numbers.
Buyers appreciate that they get more value for money in the Kenmore property market, especially for those who are transitioning from inner city life to a more suburban family lifestyle. Kenmore is also attractive to investors who have heaps of ideas and the budget for renovating and updating an old home.
Whilst Kenmore has consistently reflected property growth in more than five years, the property remains affordable compared to other suburbs in Brisbane. This western suburb provides residents with all that they need and there is an active community for every age group.
“There’s a lot of brick houses owned by people with enough money to renovate when it gets too dated. Also, it seems like a lot of people live quite nicely without the flashy gardens”Bob
“Fantastic location close to the city and great access once the tunnel opens to the north as well as easy times to South via great mtr way. Good schools and nice ressys for a cheap night out for the family. Lone pine for the tourist in all of us plus access including boat ramp for the river person. Good neighbours are easy to find and some streets have great street family appeal.”Chopster
“Alkina Street in Kenmore is a quiet street, despite being so close to the shopping centers etc. Big pluses here are that everything is walkable. There are numerous restaurants, a gym, video store, massive pet store and a medical center opposite Alkina street, along Marshall Lane. Wongabel street houses a post office, hairdressers, computer store, more places to eat, coffee shops, newsagent, bakery.”Paladin