Coorparoo is an inner south eastern suburb of Brisbane, known for its greenery and access to the CBD. Coorparoo is one of the largest suburbs in Brisbane in terms of land mass and population, being close to 20,000.
Coorparoo is one of Brisbane's oldest suburbs, dating right back to the 1850s where by ten farms were sold off and then later subdivided in the land boom of the 1880s.
Coorparoo is known for having some of the best facilities in Brisbane, particularly green space, with over 30 parks within the suburb alone. It also has a range of distinctive buildings, homes and sites that date back to the 1800s.
In terms of Real Estate prices, Coorparoo is one of Brisbane's most expensive, at over $1.5M. Growth in Coorparoo is amongst the most consistent in the state, largely due to the wealthier demographic that tend to reside in the suburb, particularly many families.
Coorparoo had consistently been a middle class suburb, though in recent years this has moved to become an upper middle class suburb with many residents in recent years earning over $200,000 per year.
Lifestyle
Coorparoo is Brisbane's greenest suburb that lies within 10km of the CBD, with over 30 parks in the suburb that range from large to small.
Many of these parks are used for exercising, relaxing, walking and taking pets out in as some are off leash parks.
There are a number of heritage buildings, churches and attractions in Coorparoo such as the Spanish Mission Revival, The Coorparoo Shire Hall and Faith Works Uniting Community which all serve as great places for locals to visit on a stroll.
Coorparoo has a great community, which is largely compromised of long term residents, families, young people and professionals that often can be seen relaxing along the many small cafes that line the main roads and quieter streets.
Coorparoo is often a place where residents can be seen exercising at hours of dawn and dusk. It is a suburb to feel alive and somewhere where many feel right at home.
School Zones
As a wealthy family suburb, private education is popular to many parents in Coorparoo. Anglican Church Grammar School in East Brisbane and Somerville House in South Brisbane are boys and girls private schools that lie only 5 minutes away.
Coorparoo State School serves many of the publicly educated younger students. It also has a special education department for students of special needs. St James Primary School and Our Lady of Mount Carmel Primary School are two other schools that serve students of the same age for a catholic education.
Brisbane School of Distance Education is also within the suburb which is both primary and secondary and also has a special education program.
Coorparoo Secondary College and Loreto College Coorparoo are co-ed and girls secondary education schools that are also located in the suburb. Queensland Pathways State College is a senior campus that is also within the suburb.
Narbethong Special School is in nearby Woolloongabba and services only students of special needs.
Demographics
Coorparoo is a suburb compromised of a few main types of people: families, long term residents, younger individuals and professionals.
The families and long term residents often live in the many quieter streets between the main roads, often the greener streets of the suburb. The younger individuals and single professionals often live close to the railway line and main roads in the units.
Coorparoo despite having a presence of units has still had median weekly household income close to double over the past 15 years moving from $1,116 in 2006 to $2,100 in 2021.
It should be noted that the median monthly mortgage repayments now sit below the median weekly household income meaning individuals serviceability in the suburb is well above their monthly requirements, leading to strong discretionary spending.
The largest cultures in Coorparoo are mainly English, Australian, Irish, Scottish and German but there are small populations of Indian, Nepalese and Pilipino people.
Employment
Due to the proximity to the hospital precinct in Stones Corner, Greenslopes and Woolloongabba, Healthcare is the largest employer in Coorparoo, employing over 7% of the working population.
Law, Government, Education and cafes are the other main employers in the suburb. Over 50% of the residents of Coorparoo are within professional services or managerial positions, contributing to the increasing income of the suburb.
Most employees in Coorparoo work either in the CBD, Woolloongabba, Fortitude Valley or Cannon Hill.
Transport
Buses run all throughout Coorparoo, mainly along the main roads of Cavendish Road, Old Cleveland Road, Chatsworth Road, Leicester Street and Boundary Road. These services go anywhere towards the CBD and north, Manly, Logan, Yeronga and the inner east.
Coorparoo Railway Station can be found in the northern end of the suburb and services the CBD and Cleveland Line. It is only a short train trip of under 20 minutes to many employment hubs.
Amongst families private transport is very common, particularly due to the large open space that Coorparoo is graced with. Families often have multiple vehicles as use it as a means of transport.
Cycling is popular among many as well, due to the close proximity of Cannon Hill and Woolloongabba's employment hubs.
Shopping Centre's, Restaurants & Facilities
Coorparoo despite being graced with great greenery and space is a fairly walkable suburb with a walk score of 72/100.
The suburb is graced with the most parks of any in Brisbane with 30 that range from large to small. The main parks are key sporting arenas as it is a very popular lifestyle choice for residents of Coorparoo.
Coorparoo Cricket Club plays in Peter Burge Oval. Eastern Suburbs District Rugby League Club and the Brisbane Tigers Play at Langlands Park. This is a common location for many NRL clubs to train at when interstate.
The Brisbane Lions train at Giffin Park, also within the suburb. The Metropolitan Districts Netball Association is based at Wembley Park and has 12 netball courts.
There are many heritage listings in Coorparoo too, with over 30 in the suburb alone. These range from old buildings such as Coorparoo Railway Station to schools such as Loreto College. This shows the importance of the suburb to the development of Brisbane.
Shopping is done mainly at Coorparoo Square on the corner of the main two roads of the suburb: Cavendish Road and Old Cleveland Road. Most of the department store shopping is done in Westfields at Carindale.
Gyms, fitness clubs and other lifestyle groups line the main streets of the suburb, particularly in towards the staion and northern end.
Development
Coorparoo is mainly a residential suburb, compromised of two different types of development: medium density and low density.
Many of the apartment and townhouses blocks along with the higher density zoning is within the northern end of the suburb, towards the train station.
Most of the renovation or smaller developments are done in the greener streets of the suburb. Some homes are on existing double and triple lots, that at times can present incredible wealth opportunities in the market.
The larger lots and development stock is of the strongest demand in Coorparoo, and often met with many deals being secured entirely off market. It should be noted that mixed residential and commercial dwellings are making more appearances towards Coorparoo Square.
Capital Growth
Coorparoo is ideally situated for capital growth: It is close to the CBD, river and between some of Brisbane's top performers such as Woolloongabba, Camp Hill and Norman Park.
It was performed at close to 8.5% capital growth year on year for the past 50 years according to CoreLogic. Many of the better performing streets in the quieter pockets of the suburb have performed at above 11%, and have created incredible deposits of wealth for the lucky few.
Townhouses and apartments generally perform at 5.5% and 3.5% capital growth respectively.
Cash Flow
Houses in Coorparoo yield roughly 3%, which is a very strong number for a suburb with a median price over $1.5M. Many of these homes were bought over 10 years ago, and have loan balances of less than $500,000, meaning a very low Loan to Value Ratio (LVR).
Townhouses and units yield close to 5%, which is some of the strongest yield close to the CBD. Many of the better yielding stock is compromised of newer fixtures and fittings.
Some homes in Coorparoo rent for over $2,000 per week, particularly those on heritage blocks or with city views.
Rental Demand
Houses in Coorparoo historically have vacancy rates close to 1.6%, which is an incredibly low number considering the large population in the suburb.
Townhouses and units average closer to 2.2%, which is largely due to the large number of students and contract workers in the nearby employment hubs.
Vacancy rats rarely exceed 2% for homes in Coorparoo, meaning the market is in constant undersupply. In both the 2008 Global Financial Crisis and the COVID19 Pandemic, vacancy rates were under 2%, rarely seen in Australia.
Rents consistently increase at a rate between 3-4% in Coorparoo, one of the most consistent in Brisbane. This has been increasing closer to 10% since the pandemic, due to the vacancy rate averaging 0.5%.
Why You Require a Buyers Agent in Coorparoo
Coorparoo is one of Brisbane's largest suburbs, and also on of its most important. There are a number of reasons why: its close proximity to the CBD, the access to jobs, the schools in the district and the greenery and wide open space that the suburb is blessed with.
Accordingly, this creates very strong demand from many investors, developers and upgraders who all often are of a very wealthy demographic whereby prices are the least concern. Stock levels are also decreasing, and have been for the past 15 years since the GFC.
It is not uncommon to see homes go 20% or more above reserve price, making the average person have no chance in the market. Many homes also transact off market, often over golf courses as there is enough of a database for many agents in the suburb to achieve market price without going to market.
Having a buyers agent in your corner is a sure way to have the experience at hand to secure the correct property at the correct price in the correct location, saving you hundreds of thousands on the way in and making you millions for years to come.
Why not seek Professional Advice from one of our Buyers Agents
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