Herston is an inner northern suburb of Brisbane, situated approximately 3km north of the CBD.
Herston was originally a farm, named after a combination of the surnames of Sir Robert Herbert and John Bramston.
Herston is home to the largest health precinct in all of Brisbane, that includes the Royal Brisbane and Women's Hospital, the Queensland Institute of Medical Research and the Herston Quarter.
Herston was originally a workers suburb and is mostly a residential suburb, with some industrial sites being closer to the main roads. Today it is a suburb of mixed demographics, with many students, professionals and families calling Herston home.
Price wise, Herston is one of Brisbane's more expensive suburbs, surpassing $1.5 million in 2022. For the location that it provides, many experts view it as considerably undervalued. One of the key suburbs for the 2032 Brisbane Olympics will be Herston, hence prices are predicted to skyrocket.
Lifestyle
Herston is perhaps Brisbane's best located suburb for all lifestyle requirements, whether that be work, school or leisure.
Many locals enjoy Victoria Park, Ballymore Stadium and the Breakfast Creek precinct where they can be seen exercising, picnicking or simply relaxing.
There are a number of sporting events that happen at both QUT Kelvin Grove and Ballymore Stadium, including soccer, rugby league and cricket. Suncorp Stadium only also lies a few km away at nearby Milton.
Fortitude Valley, the CBD and Howard Smith Wharves also only lie less than 5 minutes via public transport and serve as a key entertainment precinct for many locals.
Cafe culture is strong in Herston, being a suburb of many students and young professionals, cafe's line Herston Road and the streets towards the the Hospital Precinct and QUT.
School Zones
Most younger students attend either Brisbane Central State School or Petrie Terrace State School, only a short walk away. Compass Independent School is also popular at nearby Kelvin Grove.
Many public adolescent students attend Kelvin Grove State College, which is rated very highly and often has many close ties to the neighbouring Queensland University of Technology (QUT).
Many of the wealthier families that call Herston home also send their children to the nearby private schools such as Brisbane Grammar, Brisbane Girls Grammar and St Margaret's Anglican Girls School in nearby Spring Hill and Ascot
Red Hill Special School lies less than 5 minutes away for students of special needs and is well known throughout Queensland.
Demographics
Herston is an extremely young suburb, with the median age being only 31. This is largely due to the proximity to QUT and the CBD.
A large proximity of Herston residents are from overseas, significantly higher than the Queensland average, with Chinese, Indian, English and Sri Lankan immigrants all being common.
Despite being a young suburb, Herston's median household income has nearby doubled over the past 15 years, growing from $1,178 per week in 2006 to $2,086 in 2021.
A large proportion of Herston residents are from very strong and growing industries, which is increasing their ability to make further improvements to their homes. This is seen commonly throughout the suburb with many Queenslander homes being restored and renovated to their glory days.
Employment
More than 50% of Herston's employees work as either professionals, or managers. This is an incredibly high number considering the amount of students that reside in the suburb, especially within apartments.
Healthcare is the largest employer by no surprise in Herston, and one of the largest employers of any suburb in Australia, employing more than 10% of the entire suburb. Many of the resident population in Healthcare hold incredible roles and homes in the suburb such as Doctors and Surgeons.
Cafe's and restaurants are also common employers for the younger population and many new migrants. Other professional roles that are common include IT, Higher Education and Engineering. Commonly working within QUT or the CBD precincts.
Herston's personal income is also more than 15% higher than the average income in QLD, this is largely due to the proximity to great jobs in the nearby Hospital, University and CBD.
Transport
Herston is known for being ideally located, close to the Bowen Hills Interchange that diverts traffic all over Brisbane.
Bowen Hills station lies only a few minutes away, particularly for those working or living towards the Herston Hospital Precinct.
Many Brisbane City Council Buses serve the region, running mainly along Herston Road throughout the suburb. The inner northern busway runs through the southern part of the suburb.
Cycling and walking are two very common methods of transport in Herston, being in such close proximity to the CBD, QUT and the Hospital Precinct.
Private transport is common amongst many families that reside in the quieter pockets of the suburb, though many students do not have private transport at all.
Shopping Centre's, Restaurants & Facilities
Herston is a very walkable suburb with a walkscore of 74/100. This is largely due to the access to facilities, transport and general care services in the suburb.
Cricket, Rugby League, AFL & Soccer are all popular sports in Herston, with many matches being regularly held in QUT Kelvin Grove or Ballymore Stadium. The Brisbane Broncos, Lions and Heat are all very well followed clubs in Herston and can be seen very close by at either The Gabba or Suncorp Stadium/Lang Park.
Healthcare and services are perhaps Herston's biggest drawcard, as it has possibly the best precinct in Australia, with some of the best specialists all being within the eastern side of the suburb, that is almost entirely publicly funded.
Many residents enjoy shopping in the CBD for all outlets that they require or otherwise at Westfield's in Chermside or Indooroopilly. For outlet style shopping, most residents go to Hendra at the Direct Factory Outlets.
Health and fitness are very popular as well in Herston, with many fitness clubs existing, particularly within the student based community. Gyms also line the busier parts of the suburb, particularly along Herston Road.
Development
Herston will become one of the main suburbs of the Brisbane 2032 Olympics and one of the most heavily developed accordingly. The Brisbane Showgrounds, Victoria Park and Ballymore Stadium will all host different events in the Olympics.
Presently, Herston is mainly a residential suburb, with some commercial development existing within Herston Road and the Hospital Precinct, however this is changing rapidly.
In decades foregone, Herston was almost entirely detached homes, though now close to 40% of the suburb is made up of apartments, and this is increasing.
Many of the best blocks of land are zoned for medium to high density townhouses or apartments and more land is becoming rezoned in higher density zoning.
The best homes in Herston are often the original freestanding homes that exist within the quieter streets, though these are in very strong demand, particularly after the announcement of the Olympics.
Capital Growth
Herston is one of Brisbane and Australia's best performing suburbs for capital growth, though largely due to insufficient sample sizes, it largely remains unreported.
Herston generally averages between 8-9% capital growth year on year for houses, with townhouses and apartments generally picking up 6% and 4% respectively.
It should be noted that some of Herston's homes have never been sold, but passed down from generation to generation for hundreds of years.
Often the best pockets of Herston have hold periods of over 10 years, some over 15 and attract capital growth of above 10.5%.
Cash Flow
Houses in Herston usually yield between 3-3.2%, though the data alike is quite inconclusive due to many of the renters of the suburb, leasing apartments. Some of the better homes in the quieter pockets close to the Hospital Precinct yield closer to 4%.
Townhouses and apartments generally yield between 4.8-5.3%, depending on their location and also the fixtures and fittings that they have.
It should be noted that houses in Herston are fairly uncommon, and at times there may be not a single home available for lease.
Rental Demand
Houses in Herston generally average between 1.2-1.8% vacancy rates. For an inner city suburb this is incredibly low, especially with the large number of students that are within the suburb.
Townhouses and apartments generally average between 2-2.5% vacancy rates, and this is largely due to the changing nature of the demographic that resides in them being students, and sometimes short stay contract workers.
Houses in Herston are some of the most consistent yielding homes in Brisbane. Due to the strong fundamental industries, that are present within Herston, even in down markets, it is very uncommon to see rents decrease. In the thick of COVID19, rents rose in Herston, whilst in most of Australia, they declined.
Why You Require a Buyers Agent in Herston
As one of the key development suburbs of the 2032 Brisbane Olympic Games, Herston has some of the strongest domestic and international demand that can be seen in Australia.
Families, professionals, wealthy investors and developers are all key bidders for the right properties in Herston, often many who are representatives of larger holding companies. These bidders have very strong sums of money, and often will pay whatever the market decides.
The vast majority of the best stock in Herston is either held by owner occupiers or wealthy developers waiting to cash their cheques or enjoy all the luxuries that the suburb has to offer. This only adds to the shortage of good stock, and increases the net demand.
Attempting to purchase correctly in Herston without a trained professional is almost financial suicide. Having a well experienced and knowledgeable buyers agent in your corner will not only ensure that you have access to the right stock, but also ensure you purchase the stock at a fair price, saving you thousands on the way in and making you millions in future years to come.
Why not seek Professional Advice from one of our Buyers Agents
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