Housing growth in Greenbank, a suburb in Queensland, Australia, has seen significant growth in the housing market in recent years. The suburb is located about 32 kilometres south of Brisbane’s central business district and has become a popular destination for homebuyers and investors.
Demand for Housing
The demand for housing in Greenbank has been driven by its proximity to Brisbane and the Gold Coast, as well as its affordability compared to other suburbs in the area. The suburb has also seen an influx of new residents, with the population continually growing.
Housing Market Trends
The housing market in Greenbank has seen significant growth in recent years, with the median house price increasing by 7.18% per annum over the past five years. The median house price in Greenbank is currently $870,000, with a rental yield of 3.96%.
New Developments
There are several new developments in the pipeline for Greenbank, including the $220 million redevelopment of the Greenbank Shopping Centre. The project, which is expected to commence in late 2024, will include a new supermarket, discount department store, and additional retail tenancies.
Infrastructure and Amenities
Greenbank has a range of amenities, including schools, parks, and shopping centres. The suburb is also close to the Logan Motorway and Mount Lindesay Highway, which provides easy access to Brisbane and the Gold Coast and New South Wales.
Future Growth
The Queensland Government has declared Greenbank as part of its Greater Flagstone Priority Development Area, which is expected to drive future growth in the suburb. The area is expected to see significant population growth, with the population expected to increase to 138,000 residents.
Conclusion
Greenbank, Queensland has seen significant growth in the housing market in recent years, driven by its proximity to Brisbane and the Gold Coast, as well as its affordability. The suburb is expected to see continued growth, with several new developments in the pipeline and a range of amenities and infrastructure.
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