In 2021, Hamilton property values soared, with the median house price ending up just shy of the $2-million mark, as savvy buyers snapped up prime buys in this blue-chip suburb.
Hamilton Property Values: Houses
Figures from Property Market Updates revealed that Hamilton property values got even stronger, as the median house price increased by 18.03 per cent from January 2021 to December 2021. The median house price has gone up to $1,947,500 from $1,650,000 in the previous year.
Some 129 houses were sold for this period at an average of 65 days on market, with a fourth of the buyers coveting four-bedroom family homes.
In October 2021, a vacant, run-down two-bedroom brick and tile house, standing in the middle of a big chunk of land at 1,138 square metres, sold within 72 hours for an astounding $4.6 million.
The house, completed in the early 1950s, has been eyed by investors for years due to its prestige location next to rows of beautiful mansions. The new owner of the sought-after site plans to knock down the old house and build two new modern homes.
Hamilton Property Values: Units
Hamilton’s unit market had a busy year with 462 properties sold within an average of 70 days on market. The median unit price grew to $555,000 from $500,000 in the previous year, ushering an 11 per cent growth from January 2021 to December 2021.
Many first home buyers are snapping up real estate in Hamilton, especially at the rows of new apartment builds in the Portside and Northshore precincts to get their foot at the door of this blue-chip suburb.
Two-bedroom units attracted most buyers who are young professionals with some money to save to invest in a property. However, downsizers whose kids have settled in a home of their own are also moving into the Hamilton property market.
About Hamilton
Hamilton is an old-money suburb that has undergone a much-needed revamp in the last decade with the upgrades at Portside Wharf and Northshore. The revitalised precincts provide upscale residential opportunities, cafe and restaurant offerings, as well as an eclectic mix of retail shops.
The suburb keeps growing due to its fantastic location and good planning. Hamilton is both close to the CBD and to the airport, thus it’s an ideal place to live for many executives, high-level people in business, and professionals or specialists in high-profile industries.
Over the years, Hamilton has become a liveable cosmopolitan precinct but its potential to grow still hasn’t peaked. By 2023 the suburb is primed for a major transformation with the opening of the Athletes’ Village for the Brisbane 2032 Olympic and Paralympic Games. Post-Olympics, this precinct will be high in demand for the residential offering, retirement living, affordable housing, or build-to-rent and market accommodation.
“Hamilton is perfect for social people. Kingsford Smith Drive is a major road connecting the airport and the City. There are so many things to love about this busy road if you live on it as I do. It is easy to get to the city and the airport, Racecourse Road is close by for shopping and dining out, a hop skip and jump to the Portside Wharf for great bars and cinema and the river.”
Garry
“It’s all here on your doorstep! My car only comes out to go to work. Cycle and pedestrian paths along the river all the way to Powerhouse passing beautiful parks where you can relax and enjoy the views. Eat Street markets have reopened and thriving. There’s even a beach up near Hamilton reach where I take my dog for a run in the sand. Life is good at Hamilton on the river.”
Deborah