1 SUBURBPROFILE The geographic attributes of Kangaroo Point offer a range of river and city views unmatched in Brisbane. OV E RVIE W persons in 2011. Moving forward, homes comprised of two or fewer Kangaroo Point is located less than the population is projected to bedrooms. This dwelling profile 2 kilometres from the Brisbane grow by more than 3,850 persons is more than three times that CBD and occupies a prime by 2036. Our research reveals recorded throughout Brisbane at position on a peninsula around that this is likely to translate into the time of the 2011 Census. which the Brisbane River flows. demand for more than 2,000 new The geographic attributes of the dwellings. suburb offer a range of river and city views unmatched in Brisbane. The residential landscape of It is traversed by the iconic Story Kangaroo Point is similar to all Bridge and home to one of major inner urban suburbs. At the Brisbane s most revered natural time of the 2011 Census the suburb assets the Story Bridge cliffs. was overwhelmingly dominated by medium and high density DEMAND FOR + 1+2 BEDROOM APARTMENTS P OPULAT ION & D EM OGRAP H I C S developments which accounted for According to the latest data the suburb. This is in stark contrast provided by the State Government, to greater Brisbane wherein The resident population of Kangaroo Point was home to 7,527 apartments accounted for around Kangaroo Point is typified 11% of all dwellings. by young, affluent working DEMAND FOR 2,000 NEW DWELLINGS almost 80% of all dwellings within professionals. The area is Further mirroring the trend particularly popular with Gen-Y s observed throughout inner urban who accounted for just over 40% areas, couples with no children of the area s population, which and lone person households are was double that recorded across the dominant household types. Brisbane at the time of the Census. Consistent with this dwelling More than half of Kangaroo Point s and household composition is a resident population were employed pronounced demand for smaller in professional and managerial dwelling types with 63% of all occupations, with more than 30%
Given Kangaroo Point s immediate proximity to the CBD it is not surprising that an extraordinary level of demand for residential dwellings stems from the CBD s workforce. 2 attending tertiary institutions. Congruent with these trends is a demographic earning significantly higher median weekly incomes when compared to the Brisbane, Queensland and national medians. YOUNG AFFLUENT PROFESSIONAL POPULATION Demand for rental properties within Kangaroo Point is particularly high with 60% of all dwellings occupied by tenants at the time of the Census. This is significantly higher when compared with 33% recorded throughout Brisbane. HIGH RENTAL DEMAND 60% OF ALL DWELLINGS EMPLOYMENT Given Kangaroo Point s immediate proximity to the CBD it is not surprising that an extraordinary level of demand for residential dwellings stems from the CBD s workforce, currently estimated to sit at 157,600 persons. By 2031, an additional 65,000 new jobs are forecast to be created in the CBD resulting in a total workforce in excess of 222,000 persons. 108,000 NEW JOBS WITHIN A 5KM RADIUS Additional dwelling demand is underpinned by the significant volume of professional medical and supporting health workers at the state s largest medical precinct (Mater Hill) in neighbouring Woolloongabba. The precinct is home to the Mater Medical Centre, the Mater Private Hospital, the recently opened Lady Cilento Children s Hospital, the Mater Mother s Hospital and the Mater Private Clinic. Around 19,500 new jobs are anticipated to be created over the coming years within Woolloongabba. This major expansion of the suburb s workforce will inevitably underpin demand for dwellings within the riverside precinct of Kangaroo Point. South Brisbane has established itself as a major city fringe employment node only 4 kilometres from Kangaroo Point. The suburb was estimated to employ more than 22,700 people in 2011, forecast to more than double to reach just under 46,500 people by 2031. EDUCATION Due to the suburb s proximity to the CBD and superior links with South-East Queensland s public transport network, residents have ready access to some of the South- East s major tertiary institutions. The International Language School of Shafston International College is located within Kangaroo Point and is a contributor to demand for residential accommodation within Kangaroo Point. The Queensland University of Technology s Garden s Point Campus home to some 25,000 students is linked to Kangaroo Point by the pedestrian and cycle Goodwill Bridge, the Cross River Ferry and CityCat network. Both
More residents use the ferry as their principal mode of transport to work than any other suburb in Brisbane. 3 the South Bank Institute of TAFE and Griffith University s South Bank Campus (with collective enrolments of 32,000) are both accessed by the CityCat network, TransLink buses and cycle ways. The state s largest university, the University of Queensland (St Lucia) with an estimated 40,000 students enrolled can be reached by either TransLink bus services or the CityCat network. Slightly further afield the Kelvin Grove campus of the Queensland University of Technology and the Nathan Campus of Griffith University all enjoy a high level of connectivity with the suburb principally by the major busways linking South East Queensland. STRONG CONNECTIVITY TRANSPORT Residents of Kangaroo Point are considered some of the most fortunate in Brisbane with unmatched access to Brisbane s ferry and CityCat services. There are three ferry terminals located at Thornton Street, Holman Street and Dockside. In fact, more residents use the ferry as their principal mode of transport to work than any other suburb in Brisbane. Both the Cross River Ferry and the CityHopper services operate from the Holman Street, Thornton Street and Dockside terminals to Eagle Street Pier in the CBD s golden triangle in a journey taking approximately 5 minutes. At Eagle Street Pier the services link with the broader CityCat network running from the University of Queensland to Northshore Hamilton stopping at 18 locations along the way including South Bank Parklands, QUT Gardens Point and New Farm Park. The population is also afforded access to the CBD via TransLink s bus network which takes around 15 minutes. TransLink bus services also link the suburb with the Woolloongabba Bus Station which is a major station on the South Eastern Busway. From the Woolloongabba Station, high frequency bus services operate between Mater Hill, South Bank Parklands, the Cultural Centre and the CBD. The South Eastern Busway connects with each of Brisbane s major busways in the CBD providing access to the capital s major employment, education, retail and lifestyle nodes. RECREATIONAL & LIFESTYLE AMENITY The high level and nature of recreational amenity on offer within Kangaroo Point and its immediate surrounds offers the resident population a unique, high quality of life. The popular Captain Burke, Raymond and Count White Parks are all located within the suburb providing popular bbq and picnic spots for social and family gatherings. Kangaroo Point Park is considered one of Brisbane s best parks home to a sculpture park and lengthy riverfront boardwalk. Upper River Terrace is also a popular bbq spot, sitting atop the Kangaroo Point cliffs with panoramic views across Brisbane s river to the CBD. Running along the banks of the Brisbane River is the Kangaroo Point Bikeway which joins with the Goodwill Bridge at the southern end of Southbank providing a direct link with the Queensland University of Technology s Garden Point Campus and the CBD. The Bikeway joins up with the
Kangaroo Point is one of Brisbane s premier tourist destinations. The Story Bridge Adventure Climb ranks as one of the top tourist experiences in Brisbane. 4 South East Bikeway running to Macgregor in the south and the Bicentennial Bikeway running to Toowong in the west. Kangaroo Point is one of Brisbane s premier tourist destinations. The Story Bridge Adventure Climb ranks as one of the top tourist experiences in Brisbane and draws local, interstate and international tourists. Additionally, the Kangaroo Point Cliffs are widely acknowledged as Brisbane s most picturesque location for abseiling and rock climbing. PREMIER TOURIST DESTINATION The multi-award winning Riverlife Brisbane is located in the suburb within the heritage-listed Kangaroo Point Naval Stores along the banks of the Brisbane River. Riverlife offers a diverse range of experiences, adventures, events and function spaces which has seen the venue voted as one of Brisbane s top 4 attractions. Amongst Riverlife s most popular adventures are abseiling and rock climbing the Story Bridge Cliffs, kayaking and stand up paddle boarding along the Brisbane River, cycling and Segway tours. HIGH QUALITY OF LIFE South Bank Parklands, within walking distance of Kangaroo Point, is Brisbane s premier public space, tourist destination and recreational, entertainment and business precinct. The 42 hectare site is visited by more than 10 million people each year. The Parklands is separated into three main precincts including the 17 hectare open Parklands including Streets Beach and the Wheel of Brisbane; the revered retail and dining street Little Stanley and the Grey Street cultural boulevard including the Queensland Performing Arts Centre, the Queensland Art Gallery, the Gallery of Modern Art and the State Library of Queensland. RETAIL AND DINING Kangaroo Point is home to two of Brisbane s most famous pubs The Story Bridge Hotel and the Pineapple Hotel. Both Hotels have long-held reputations as being amongst the finest steak restaurants in Brisbane. A number of other venues are located within the suburb including The Cliffs Café, the Dockside Comedy Club and the Brisbane Jazz Club. Naturally, being adjacent to South Bank Parklands and directly opposite Eagle Street Pier, residents of Kangaroo Point have access to Brisbane s finest restaurants and eateries including Cha Cha Char, Aria, Jellyfish, The Stokehouse and Dell Ugo. The everyday shopping needs of Kangaroo Point s population are well serviced by a selection of convenience stores and supermarkets including the IGA X-press Kangaroo Point, Foodworks, Coles Woolloongabba and Woolworths Spring Hill. Just over five minutes by car is the Coorparoo Shopping Precinct home to a full line Coles Supermarket and a variety of supporting convenience retailers Westfield Carindale is the major shopping centre for the region, located less than 15 minute s drive from Kangaroo Point. The Centre is home to around 300 speciality retailers, food outlets, cafes, restaurants, professional service
Over the past ten financial years the median apartment price in Kangaroo Point has risen by an impressive average rate of 4.0% per annum. 5 organisations, medical centres, a Brisbane City Council Library and a state of the art cinema complex. APARTMENT MARKET PERFORMANCE Over the past ten years there has been average annual demand for around 300 apartments within Kangaroo Point. Over the past ten financial years the median apartment price in Kangaroo Point has risen by an impressive average rate of 4.0% per annum. More recently, over the past five financial years, the rate of average annual median price growth has slowed to 0.4%. However, over the past three financial years, the average annual rate of growth has sat at 3.1% reflecting a market which is gaining momentum. The median apartment price now sits at just over $500,000 for the first time since 2010. This recent upwards movement in values may suggest that the market has entered its next phase of growth. RENTAL MARKET CONDITIONS An analysis of the most recent data relative to median weekly rents within Kangaroo Point reflects a market which remains in line with, or more affordable than, the broader inner city. The median weekly rents of one bedroom apartments within Kangaroo Point are on par with those recorded throughout the broader inner city region. Two bedroom apartments currently represent better value than those across the broader inner city region which may be a key factor underpinning strong demand for this product type throughout the market. According to the latest data from the Residential Tenancies Authority of Queensland, the median weekly rents of one and two bedroom apartments within Kangaroo Point are currently at a $25/week and $95/week premium to those being recorded across Brisbane. Based on the latest data supplied by Australian Property Monitors the median asking rental yield within Kangaroo Point currently sits at a healthy 5.6%. RENTAL YIELD 5.6% AT A GLANCE Kangaroo Point is located less than 2 kilometres from the Brisbane CBD and occupies a prime position on a peninsula around which the Brisbane River flows. The geographic attributes of the suburb offer a range of river and city views unmatched in Brisbane. The population is projected to grow by more than 3,850 persons by 2036 which is likely to translate into demand for more than 2,000 new dwellings. The residential landscape of Kangaroo Point is similar to all major inner urban suburbs. Further mirroring the trend observed throughout inner urban areas, couples with no children and lone person households are the dominant household type. Consistent with this dwelling and household composition is a pronounced demand for smaller dwelling types with 63% of all homes comprised of two or fewer bedrooms. The resident population of Kangaroo Point is typified by young, affluent working professionals. Congruent with this is a demographic earning significantly higher median weekly incomes when compared to the Brisbane, Queensland and national medians. Demand for rental properties within Kangaroo Point is particularly high. Given Kangaroo Point s immediate proximity to the CBD it is not surprising that an extraordinary level of demand for residential dwellings stems from the CBD s workforce, currently estimated to sit at more than 156,600 persons. Additional dwelling demand is underpinned by the significant volume of professional medical and supporting health workers at the state s largest medical precinct (Mater Hill) in neighbouring Woolloongabba.
Based on the latest data supplied by Australian Property Monitors the median asking rental yield within Kangaroo Point currently sits at a healthy 5.6%. 6 South Brisbane has established itself as a major city fringe employment node only 2 kilometres from Kangaroo Point. Due to the suburb s proximity to the CBD and superior links with South- East Queensland s public transport network, residents have ready access to some of the South-East s major tertiary institutions. Residents of Kangaroo Point are considered some of the most fortunate in Brisbane with unmatched access to Brisbane s ferry and CityCat services. More residents use the ferry as their principal mode of transport to work than any other suburb in Brisbane. Both the Cross River Ferry and the CityHopper services operate from the Holman Street, Thornton Street and Dockside terminals to Eagle Street Pier in the CBD s golden triangle in a journey taking approximately 5 minutes. TransLink bus services also link the suburb with the Woolloongabba Bus Station on the South Eastern Busway. The South Eastern Busway connects with each of Brisbane s major busways in the CBD providing access to the capital s major employment, education, retail and lifestyle nodes. The high level and nature of recreational amenity on offer within Kangaroo Point and its immediate surrounds offers the resident population a unique, high quality of life. Kangaroo Point is one of Brisbane s premier tourist destinations. The Story Bridge Adventure Climb ranks as one of the top tourist experiences in Brisbane and draws local, interstate and international tourists. Additionally, the Kangaroo Point Cliffs are widely acknowledged as Brisbane s most picturesque locations for abseiling and rock climbing. South Bank Parklands, within walking distance of Kangaroo Point, is Brisbane s premier public space, tourist destination and recreational, entertainment and business precinct. The everyday shopping needs of Kangaroo Point s population are well serviced by a selection of convenience stores and supermarkets. Westfield Carindale is the major shopping centre for the region, located less than 15 minute s drive from Kangaroo Point. The Centre is home to around 300 speciality retailers, food outlets, cafes, restaurants, professional service organisations, medical centres, a Brisbane City Council Library and a state of the art cinema complex. Over the past ten financial years the median apartment price in Kangaroo Point has risen by an impressive average rate of 4.0% per annum. Although growth has averaged only 0.4% per annum over the past five years, an analysis of the past three financial years shows the average annual rate of growth has sat at 3.1% reflecting a market which is gaining momentum. According to the latest data from the Residential Tenancies Authority of Queensland, the median weekly rents of one and two bedroom apartments within Kangaroo Point are currently at a $25/ week and $95/week premium to those being recorded across Brisbane. Based on the latest data supplied by Australian Property Monitors the median asking rental yield within Kangaroo Point currently sits at a healthy 5.6%. The multi-award winning Riverlife Brisbane is located in the suburb within the heritage-listed Kangaroo Point Naval Stores along the banks of the Brisbane River.