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Westlake

Real estate profile

Location

14km south-west of the Brisbane CBD.

Features

Fully planned development, lakefront property.

Median Price

REIQ research shows that the median house price in the suburb for the calendar year 2006 was $447,500.

Median Weekly Rent

The median weekly rent paid for a 3-bedroom house in this area in the June 2007 quarter was $300. The median weekly rent paid for a 2-bedroom unit in this area for the same period was not available.

Profile

Located approximately 14 kilometres south-west of the Brisbane CBD, Westlake is an integral part of a successful land development that commenced in 1959 with Jindalee and includes Mt. Ommaney, Jamboree Heights, Riverhills, Middle Park and Sinnamon Park. Originally known as the ‘Centenary Project’, the area is now more commonly referred to as the Centenary suburbs.

Within the last 10 years there have been new releases of land for sale around the artificially created lake. Part of Westlake is also on the Brisbane River, and this land is consequently more expensive. The construction of new up-market dwellings and demand for housing in the area is likely to increase the overall value of property in the suburb in the future.

Westlake is a popular suburb for growing families as the area offers a wide range of services and facilities for all family members within close vicinity.

The Centenary suburbs are promoted as a fully planned development with extensive services and facilities including primary and high schools, the recently expanded Centenary regional shopping centre, police and fire stations and many sporting clubs including two golf courses.

As the urban sprawl continues outwards from the CBD, demand for Westlake should remains consistent in future years.

According to the 2006 Census there were 4,681 people living in the suburb with a median age of 39. The median individual income was $644 per week. Of all occupied private dwellings 88.3% were either fully owned or being purchased; 9.2% were being rented.

Source: REIQ

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 Westlake information

History

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

Pocket Neighbourhood Guide

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