Ashgrove is a inner north western suburb of Brisbane, located approximately 5km from Brisbane's CBD, commonly known as one of the best family suburbs in Brisbane.
Ashgrove was historically a part of both Dorrington and St Johns Wood, which were absorbed into Ashgrove in 1975. Many residents still associate the locality as the previous names, particularly long term residents.
Ashgrove is one of Brisbane's best suburbs for family houses, commonly featured in many property magazines. It is known for having consistently larger blocks and also some of the best tree lined streets in Brisbane.
Prices in Ashgrove have increased significantly over the past few decades. In 2023, prices crossed $1.6M, making Ashgrove one of the most expensive suburbs in Queensland.
Lifestyle
Ashgrove has one of the best lifestyles close to Brisbane CBD, it is tree lined, full of larger blocks, very friendly for families and of a great community.
Ashgrove has many large parks and reserves, that mainly line Enoggera Creek, including Banks Street Reserve, Dorrington Park, Des Connor Park and GPS Rugby Club.
Cafe culture is very common amongst many of the residents in Ashgrove, and commonly residents are up at early hours of the morning before work in cafes and around the suburb.
Exercising is also common in Ashgrove, particularly along Enoggera Creek, which has a fantastic track that many walkers, joggers and cyclist all enjoy.
School Zones
Ashgrove State School and Oakleigh State School are the two most common schools for primary aged students in Ashgrove.
Ft Finbarr's Catholic Primary School and Mater Dei Catholic Primary School serve primary students who seek a catholic education.
Everton Park State High School and Indooroopilly State High School are the two closest public high schools to Ashgrove, and lie roughly 10 minutes north and south from the suburb.
Marist College Ashgrove & Mt St Michael's College are Catholic secondary and catholic K-12 colleges in the suburb, that serve students of a catholic education.
Brisbane Grammar School, Brisbane Girls Grammar School and St Margaret's Anglican School for Girls are all very common places for the wealthier residents to send their children to.
Red Hill Special School services students of special needs, and is less than 3 minutes away towards the CBD.
Demographics
Ashgrove for decades has been an upper middle class suburb of Brisbane, home to many families and professionals.
Despite being a great suburb, incomes have still doubled over the past 15 years. Household median weekly incomes have increased from $1,443 in 2006 to $2,874 in 2021.
It should be noted that median weekly family income is incredibly high in Ashgrove at $3,654 per week. This is one of the highest in Queensland and comparable to Sydney's Eastern Suburbs.
Employment
Healthcare, IT, Law and Education are all common employers of many residents in Ashgrove. Many of these residents hold very senior positions in these fields.
Professionals and managers make up close to 60% of the residents employment in Ashgrove, many working within the CBD and Herston Hospital Precinct.
This has contributed to Ashgrove having incredibly high personal weekly income, at $1,154 per week, close to 50% higher than the national average.
Transport
Cars are the most common method of transport in Ashgrove. This is largely due to the presence of families in the suburb, who often have 2 or more vehicles.
Buses run through the suburbs main roads: Jubilee Terrace, Ashgrove Avenue, Stewart Road and Waterworks Road. Ashgrove is also a stop on the route of the cross-town Great Circle Line which links the four major shopping malls of Brisbane.
It also hosts the northern terminus of the route 61 Maroon City Glider. This service provides a cross town function linking Ashgrove with Paddington boutiques and cafes, Suncorp stadium, Caxton Street food and pub precinct, King George Square in the City Centre, Southbank Parklands and cultural district, 'The Gabba', Woolloongabba.
Cycling is also common amongst Ashgrove residents. The shared paths route provides a direct route towards Royal Brisbane Hospital and t Inner Northern Bikeway provides access to the city Centre.
Shopping Centre's, Restaurants & Facilities
Ashgrove has a rich sporting History. GPS 'The Jeeps' Rugby club is one of the oldest clubs in Australia, which dates back to 1887 and has contributed 29 players to the Wallabies.
The Valley District Cricket Club has provided some of the most decorated crickets in Australian history, including both Allan Border and Matthew Hayden.
Cafes are extremely common along Waterworks Road and are often very popular amongst residents, particularly in mornings and on weekends.
Shopping is mostly done within Westfields Indooroopilly, but also Hendra Direct Factory Outlets are popular as well. Larger department store shopping is done within the CBD.
Health and fitness clubs are common such as gyms and run clubs in Ashgrove. Many existing along the main roads of the suburb, particularly towards Waterworks Road..
Yoga and family clubs are also extremely common, and are particularly active on many of the local community pages.
Development
Ashgrove is nearly entirely a residential suburb, compromising more than 95% of the suburb. Close to 80% of the suburb is detached houses and around 20% of the suburb is townhouses and units.
Most of the residential development in Ashgrove is renovation, redevelopment and small subdivisions. Many of the existing Queenslander homes are commonly great sites for these developments.
Townhouse and unit developments commonly exist along the suburbs main roads, however often are not large scale developments, but usually 2-3 stories high.
Some great double lots are within Ashgrove, often on lots that have been held for decades. Commonly, these are hot in demand from many city developers.
Capital Growth
Ashgrove is one of the best Brisbane suburbs for capital growth. Homes in Ashgrove have performed at close to 8.5% for over 50 years, and show no sign of slowing down.
Some of Ashgrove's best homes are known to do above 12% growth year on year, particularly towards the parks, greener spaces and quieter streets of the suburb.
Townhouses and units perform at 6% and 4% capital growth year on year, however exceptionally located townhouses sometimes can perform at above 7%, though are few and far between.
Cash Flow
Houses in Ashgrove have exceptional yield for a suburb that is above $1.5M, with average houses yielding between 3-3.5% year on year. Rarely do suburbs yield above 3% at this price point.
Townhouses and units average 4.5% yield, though some of the newer and better located dwellings are known to yield over 5%.
Houses in Ashgrove often are leased for many years, commonly by families sending their children to the great local schools.
Rental Demand
Houses in Ashgrove have average vacancy rates of 1.7% year on year. Since the COVID19 Pandemic vacancy rates have averaged closer to 1% and are critically undersupplied.
Townhouses and units average 2.2% vacancy rates, largely due to the presence of professionals who look to upsize in the future being the main occupants.
It should be noted that houses in Ashgrove have incredibly low rental stock levels, sometimes there are 5 or fewer available in the suburb, which has largely contributed to the consistent 3-4% rental increases year on year in the suburb.
Why You Require a Buyers Agent in Ashgrove
Ashgrove is known for being one of Brisbane's premiere suburbs and is known as being one of the best family suburbs in Brisbane.
Being only 5km from the CBD, this is an exceptional prospect and is unique in the way of the open space that Ashgrove has.
These elements create excess demand from upsizers, developers, families, professionals, interstate and international migrants.
Often, there are many bidders in the market who often have incredible sums of money looking to purchase.
Ashgrove is also a suburb of many notable residents including Kevin Rudd, Allan Border, Mathew Hayden and John Eales.
Having a buyers agent in your corner is crucial to your success in Ashgrove. Having the knowledge, strategy, access and negotiation ability will ensure you save thousands on the way in and make potentially millions in the future.
Why not seek Professional Advice from one of our Buyers Agents
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