Articles

Affordable suburb attracts investors

Source: Wynnum Herald

Tingalpa is a hidden gem of affordability, according to new figures from RP Data.

The bayside suburb had the cheapest median unit price within a 10km radius of the Brisbane CBD and ranked third for its houses.

Ray White Tingalpa sales agent Keith Blair said it was often overlooked by homebuyers.

“Tingalpa is an area people drive through to get to Wynnum and Manly,” he said.

“We’re five minutes to Carindale, 10 minutes to the city, public transport is good, there are shops and recreation – we’ve got everything everyone else has but Tingalpa is a thoroughfare through Wynnum Road,” he said.

But he said investors and developers recognised Tingalpa’s value.

“Anything under $400 000 sells pretty quickly.

“We sell them as quick as we get them, generally.”

Tingalpa was ranked the most affordable suburb for units.

RP Data research analyst Cameron Kusher said home buyers might be surprised to see affordable inner city suburbs do exist.

“With low mortgage rates, buyers are battling it out to purchase homes close to the city centres,” Mr Krusher said.

AR Developments “Tingalpa Green” project is an ideal investment opportunity in this top performing suburb.

 

Wynnum Herald 27 August

 

Wynnum Herald, by Melanie Burgess, 27 August 2014