3 minute read

Spotlight on Indooroopilly

CJ van Peppen
CJ van Peppen
26/08/19

Considered one of Brisbane’s most prestigious suburbs, and underpinned by high levels of amenity, connectivity, strong employment, population growth and housing values, Indooroopilly presents a compelling investment opportunity.

Indooroopilly is one of South East Queensland’s designated Key Principal Activity Centres, located in the Inner West only six kilometres from Brisbane’s CBD.  A high demand, blue-chip location, Indooroopilly recorded a median house price $350,000 above that of Greater Brisbane for the March quarter of 2019.

Local retail and recreational amenity and proximity to worldclass secondary schools and tertiary institutions, accentuate the convenience and accessibility that drives Indooroopilly’s lifestyle appeal.

The largest retail and entertainment precinct west of the Brisbane CBD, Indooroopilly Shopping Centre is just a short stroll away, as are the historic Eldorado Cinemas, Indooroopilly train station, and Station Road dining precinct. Some of Brisbane’s most prestigious educational institutions are also located in the area, including St Peter’s Lutheran College, Indooroopilly State High School, and the University of Queensland.

Indooroopilly is also home to St Lucia Golf Links and Indooroopilly Golf Club, which sits on some of the most valuable land in city.

Suburb Profile

Transport; Indooroopilly has the benefit of being directly serviced by Brisbane’s high frequency public transport network and is only five stops from Central Station by train, and six by bus. The Western Freeway runs along the western edge of the suburb, connecting it to Milton Road, Legacy Way Tunnel and the Inner-City Bypass and providing direct transport routes to key destinations including the CBD, airport and northern suburbs.

Employment Growth; Indooroopilly’s unemployment rate of 5.8% sits comfortably below Greater Brisbane’s rate of 6.2%, and well below that of inner-city locations such as Fortitude Valley (7.9%). Interestingly, the number of local jobs within Indooroopilly actually exceeds the labour force residing there. This trend looks set to continue, with job creation forecasts surpassing projected population numbers.

Rental Market Performance; Indooroopilly maintains a healthy vacancy rate of 3.4%. The same cannot be said for inner-city locations that have been oversupplied in recent times with small, investment-grade product with very limited appeal to the end-user.

Future Dwelling Supply; “Real” new apartment supply in Brisbane is now limited, and trending down. Further to this, an extremely small proportion of potential future supply is being delivered to Indooroopilly’s Inner West.

Population Growth;  While the population of Brisbane’s wider Western Suburbs is anticipated to grow by 2.5% between 2018 and 2026, Indooroopilly’s is expected to grow by 7.8%.

Demographic; Indooroopilly attracts a broad cross section of demographics and market segments, including young professionals, students, young/established families and downsizers

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Mosaic’s Indooroopilly Product Performance

Historically, Mosaic projects delivered to Indooroopilly have consistently outperformed the wider local market. The reason for this has been a focus on building high-quality product that caters
to the end-user, meaning above average sizes, premium finishes, excellent amenity (relative to size) and proximity to amenity.

Premium apartment product is highly sought after, but very limited, and therefore command a substantial rental premium.

A testament to client satisfaction and rental performance, Mosaic’s Indooroopilly product is tightly held. Despite having already delivered three sell-out projects to the area since 2016, only one dwelling has been resold. Even so, this single resale provides a clear case example of the potential value uplift that can be achieved for product that successfully meets the needs and wants of the market.

The Henry by Mosaic

Centrally positioned in the leafy, blue-chip suburb of Indooroopilly, The Henry has been meticulously designed for the discerning owner-occupier, with spacious, open-plan living areas, premium finishes, and expansive balconies to capture beautiful suburban views and natural breezes.

Register now to be among the first to view this captivating development before public release.