Kangaroo Point, located on the eastern bank of the Brisbane River, is a picturesque suburb known for its stunning views of the city skyline and iconic Story Bridge.
Historically, Kangaroo Point was home to the indigenous Turrbal people before European settlement. The area has since undergone significant urban development, becoming a sought-after residential destination.
An interesting fact about Kangaroo Point is that it was once a quarry site that provided stone for many of Brisbane's early buildings.
Over the past decades, house prices in Kangaroo Point have experienced steady growth, reflecting its popularity and desirability as a lifestyle destination.
Lifestyle
Kangaroo Point offers residents ample green spaces and reserves, including Kangaroo Point Cliffs Park and Raymond Park, ideal for picnics, leisurely strolls, and outdoor activities.
The suburb attracts outdoor enthusiasts who enjoy walking, running, and cycling along the scenic Riverwalk, which stretches along the Brisbane River. Coffee and café culture thrive in Kangaroo Point, with numerous trendy cafes and eateries dotting the riverside precincts.
Residents also partake in various recreational activities such as kayaking, rock climbing, and yoga classes. The suburb hosts events and festivals throughout the year, including the iconic Riverfire festival, drawing crowds from across Brisbane.
Pets are popular among Kangaroo Point residents, with many enjoying the pet-friendly parks and walking trails.
School Zones
Public primary schools serving Kangaroo Point include East Brisbane State School and Woolloongabba State School, while St Joseph's Primary School caters to the Catholic community.
Brisbane State High School is the local public high school.
Exclusive independent private schools popular among wealthy families include Somerville House and Anglican Church Grammar School (Churchie). The closest school for students with special needs is Whites Hill State College in nearby Camp Hill.
It is also close to Narbethong Special School, catering for children of special needs and Australian International Islamic School.
Demographics
According to ABS census data, the median weekly household income in Kangaroo Point has seen steady growth from 2006 to 2021, rising from $1,264 to $2,058.
Families constitute a significant percentage of the suburb's population, with a diverse demographic mix including professionals, families, and retirees.
Major cultural ethnicities in Kangaroo Point include Anglo-Australian, European, and Asian communities. The average income in Kangaroo Point compares favorably to the Australian average.
Employment
A notable percentage of Kangaroo Point residents are professionals and managerial employees, according to the 2021 ABS census.
The suburb's main employers include industries such as healthcare, education, hospitality, and professional services.
While many residents work locally, others commute to neighboring employment hubs such as Brisbane CBD, South Brisbane, and Fortitude Valley.
Transport
Kangaroo Point offers convenient access to public transportation, including main bus routes along Main Street and Shafston Avenue, connecting to Brisbane CBD and surrounding suburbs.
The suburb is serviced by nearby ferry terminals, providing access to CityCat services along the Brisbane River.
Private transport is popular, with major roads like Main Street and Story Bridge providing easy access to Brisbane's arterial network.
Shopping Centre's, Restaurants & Facilities
Kangaroo Point and nearby South Bank offer a diverse range of shopping options, restaurants, and cultural facilities.
The suburb boasts a high walk score, with many amenities within walking distance. Residents dine at popular riverside cafes and restaurants, enjoy recreational activities at local parks and sporting facilities, and frequent social clubs and community centers.
Unique to Kangaroo Point is its proximity to the iconic Story Bridge, offering residents exclusive access to bridge climbs and events.
Development
Kangaroo Point features a mix of housing options, including riverside apartments, modern townhouses, and heritage-listed homes.
The suburb experiences ongoing development, with new residential projects and infrastructure upgrades enhancing its appeal.
Knock-down rebuilds, renovations, and boutique developments are common, catering to the demand for contemporary living spaces. Subdivision opportunities are limited due to the suburb's established urban layout.
Capital Growth
Data from property sources like CoreLogic indicates that Kangaroo Point has experienced strong capital growth for houses, townhouses, and units over the years.
Houses have generally performed at 9% capital growth with some of the best performing at above 12%. Townhouses and units perform at 6% and 3%, largely driven by unit oversupply.
The suburb's prime riverfront location, stunning views, and proximity to Brisbane CBD contribute to its appeal among buyers and investors.
Factors driving capital growth include ongoing urban renewal, infrastructure investments, and lifestyle amenities.
Cash Flow
Kangaroo Point offers attractive cash flow for houses, townhouses, and units, with steady rental yields appealing to investors.
Houses generally yield close to 4%, with townhouses and units generally yielding over 5%.
Over the past decade, cash flow has seen modest growth, reflecting the suburb's stable rental market.
Common tenants in leased properties include young professionals, students, and urban dwellers drawn to Kangaroo Point's vibrant lifestyle and convenience.
Rental Demand
Kangaroo Point experiences low vacancy rates for houses, townhouses, and units over the past decade, indicating strong rental demand. Houses generally have 1.8% vacancy rates, with townhouses and units having 2.4% vacancy rates.
Since the COVID-19 pandemic, vacancy rates have dropped steadily, with Kangaroo Point's desirable location and lifestyle attributes driving rental demand. The average vacancy rate has been closer to 1%.
Factors such as proximity to employment hubs, public transportation, and recreational amenities contribute to the suburb's popularity among renters.
Why You Require a Buyers Agent in Kangaroo Point
Competition for properties in Kangaroo Point is fierce due to its limited supply and high demand. Engaging a buyer's agent with local expertise can provide valuable insights and assistance in navigating the competitive market.
A unique reason why Kangaroo Point is a good place to buy is its unparalleled riverfront lifestyle, offering residents a rare blend of urban convenience and natural beauty.
With its strong capital growth potential, vibrant community atmosphere, and desirable amenities, Kangaroo Point presents an attractive opportunity for buyers seeking a premium lifestyle in Brisbane.
Having a buyers agent in Kangaroo Point is crucial to your success. Having someone with the access, negotiation strategy and experience will ensure you purchase the right property at the right price, saving hundreds of thousands on the way in and making millions for years to come.
Why not seek Professional Advice from one of our consultants
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