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Red Hill

Real estate profile

Location

Approximately 3 km from Brisbane CBD.

Features

Ithaca Creek, quiet streets, proximity to Brisbane city, St Brigid's Church.

Median Price

REIQ research shows that the median house price in the suburb for the calendar year 2006 was $490,000.

Median Weekly Rent

The median weekly rent paid for a 3-bedroom house in this area in the June 2007 quarter was $370. The median weekly rent paid for a 2-bedroom unit in this area for the same period was $265.

Profile

As one of Brisbane’s inner Western city suburbs Red Hill has benefited in recent years from investor interest and strong growth in median house prices.

One of the oldest suburbs in Brisbane, Red Hill is only minutes by car to Brisbane’s CBD.

St Brigid’s Catholic Church is a unique landmark in the area. The design of the red brick church was based on the fortress churches built during the Middle Ages. It is Red Hill’s history and hilly terrain that give the suburb its unique character.

Red Hill has attracted renewed interest during the past two decades and much of the character of the suburb has been retained through renovation of workers cottages, Queenslanders and colonials. The renovations of older style homes and the suburb’s proximity to the CBD have contributed to the higher median sale price.

The suburb is popular with owner-occupier professionals working in the CBD and has a healthy rental market based on young city workers and some students.

Property managers report rental conditions in the Red Hill and adjoining suburbs are tight for a variety of reasons. These include, close proximity to the City, the limited amount of land for redevelopment and zoning restrictions preventing redevelopment and the high underlying value of land, which can make redevelopment uneconomical.

According to the 2006 Census there were 5,403 people living in the suburb with a median age of 32. The median individual income was $687 per week. Of all occupied private dwellings 47.5% were either fully owned or being purchased; 45% were being rented.

Source: REIQ. Copyright 2007. Enquiries about the reproduction of part or all of the information should be directed to the Marketplace Strategy division of the The Real Estate Institute of Qld Ph 3249 7300.

This information has been carefully compiled by the REIQ and is not intended to be treated as a warranty or promise as to the correctness of the information.

More Red Hill information

History

Learn about the Aboriginal history, urban development, notable residents and landmarks of the area.

Pocket Neighbourhood Guide

Your neighbourhood at a glance. Discover the secrets of the local area... as well as what makes it special.