How to get suburbia’s groove back
Suburbia is getting its groove back — a boon for this suburb where one in five people were now under 35.
It may be a given in the hipster suburbs like Fortitude Valley, Newstead and New Farm, but in inner suburbia like Coorparoo having independent youth as the dominant category of residents is a strong feat.
According to Realestate.com.au, one in five people living in the suburb were classified as couples, singles and homesharers under 35.
MORE REAL ESTATE NEWS
Edward Cullen’s mansion set for auction
Ben Barba looks to offload Brisbane house
The rise of vertical village people
While it’s not quite hipsterville yet, experience in inner city Brisbane has shown that demand for services such as shopping, groceries, coffee shops, and the like were high priorities for the age group.
Agent Lisa Pearse-Sargeant of Ray White Ascot believes the revamped Coorparoo Square complex which included Dendy cinemas and an Aldi store was a strong point for the area.
“The area is still predominantly residential with beautiful Queenslander style homes mixed with some lovely three level developments including townhouses and apartment blocks.”
“The nearby new shopping complex is on the old Myer site,” she said, and “now has multiple cafes, restaurants, Aldi and Dendy with residential apartments above.”
Among ways Coorparoo Square was changing habits in the area was free live music every Saturday in warmer months, free parking for three hours, and markets. The centre turned one at the end of November last year.
According to Realestate.com.au data, rental yield for units in Coorparoo, was 5 per cent based on 829 property rentals and 176 property sales over the preceding 12 months.
Ms Pearse-Sargeant has a two-bedroom apartment on the market at 310/45 Shakespeare Street — walking distance from the complex.
The two bedroom, two bathroom, single car garage unit was in the three-year-old Sonata building which followed a musical theme with a piano fountain and was set high on Coorparoo hill to capture city views.
“The biggest feedback from buyers through the opens are proximity to the CBD (10 minutes away via the Pacific Motorway), up high so district and city views are fantastic and cool breezes.”
The 108sq m unit goes to auction Wednesday May 22 at 6pm during Auctions on the Green at Eagle Farm Racecourse in Ascot.
FOLLOW SOPHIE FOSTER ON FACEBOOK