The Hamilton property market delivered yet another strong showing for the period October 2020 to September 2021 with a median house price of $1.94 million, up 25 per cent from the previous period.
Highlights
- The Hamilton housing market remained strong, with a median house price growth of 24.84 per cent from October 2020 to September 2021, pulling the median house price to just under two million.
- For the same period, Hamilton’s unit market stayed relatively flat at $525,000, growing by 2.94 per cent.
Hamilton Median House Price Growth
With a 24.84 per cent house price growth for the 12-month period ending September 2021, Hamilton investors saw substantial gains in their property investment. Per figures from Property Market Updates, the median house price for this suburb nearly hit the two-million mark at $1,947,500. That’s a significant gain from the $1,560,000 median in 2020.
There were 119 houses sold in Hamilton from October 2020 to September 2021, with properties spending an average of 74 days on market. More than half of the transactions that attracted buyers were for four-bedroom homes.
Though house prices in Hamilton continue to climb, the property prices in the suburb still give good value compared to other blue-chip suburbs across the country. Industry experts predict that Hamilton’s median house price will continue its upward trajectory as the 2032 Brisbane Olympics draws near, making it a good investment.
Hamilton Median Unit Price Growth
More than 70 percent of dwelling choices in Hamilton are apartment units and there were more unit buyers than house buyers for this period at 391 properties sold with an average of 76 days on market. However, the median unit price growth was relatively flat, with a modest uptick of 2.94 per cent, with the median price ending up at $525,000 compared to $510,000 from the previous year.
It bears noting that Hamilton’s unit market performance follows the same trend as rest of Brisbane’s property market, with houses faring better than apartments, except in markets that are solidly unit-based. However, Brisbane is projected to generally keep outperforming other Australian markets as a result of continued strong interstate migration in 2022.
This momentum will cascade to sought-after suburbs like Hamilton and impact the unit market as well. Buyers locked out of other prestige locations will enter the market by purchasing more affordable apartments.
About Hamilton
Hamilton is regarded as an old, “posh” part of Brisbane bordered by another blue-chip suburb on one side and an industrial precinct on the other side.
The hilly areas of this locale are filled with big character houses from old money. Brisbane’s aristocrats in the early years of its establishment chose to reside in Hamilton.
Meanwhile, the waterfront section, the site of a former cruise ship terminal, has burgeoning modern developments and heaps of apartment buildings suited for small families and young professionals.
This northern Brisbane suburb may deliver a small-town vibe, where locals can shop for handmade pieces at a nearby store on their block. But residents may also go shopping for practical goods at major retail centres after a 20-minute drive. Over time, Hamilton has earned a reputation for its urban lifestyle whilst still offering the simple joys of suburban living.
Hamilton’s original promenade is Racecourse Road, where the public library, post office, retail venues, cafes and restaurants abound. In recent years, however, Portside Wharf, to the southern end, as well as Eat Street Northshore, have become the modern lifestyle venues with more dining and shopping precinct. In a few years, more buildings should be erected in this part of Hamilton, which will likely drive up property prices further.
Hamilton will also be an important location for the 2032 Brisbane Olympics, with the planned construction of the Athlete’s Village. The suburb is within the catchment of many reputable schools and has plenty of transport access like buses, the trains in Ascot, and the CityCat ferries that bring residents to the CBD and the Brisbane Airport.
“Great place, close to the city, it’s got everything really… heaps of parks for the kids. Eat street literally down the road. Love it.”
Sk1tza
“The houses are gorgeous, the area has prestige, I felt very safe living here. Fantastic library nearby with wonderful, helpful staff.”
Missy
