Wilston is inner northern suburb of Brisbane, situated 5km north of Brisbane CBD. It is a suburb with a mixture of dwellings; older workers cottages to newer designed architecturally designed homes on Wilston Hill. Wilston is an elevated suburb that holds many fantastic views of the CBD and has many beautiful tree lined streets. It is known as one of Brisbane’s most liveable suburbs.
The suburb was developed into a housing estate in the 1920s & 1930s and is surrounded by many well regarded suburbs such as Newmarket, Windsor, Grange, Lutwyche & Herston.
Lifestyle
Wilston is a suburb where locals can enjoy a city lifestyle, with space whilst not feeling like they’re in the big smoke. There is a great array of parks and facilities that lie along Enoggera Creek that include Downey Park, Finsbury Park & Brisbane City Football Club training facilities. Many locals use the Enoggera Creek precinct for outdoor activities and cycling. There is a large sports scene in Wilston with many clubs including Football, Rugby League, Cricket, Hockey & Soccer clubs. Many of these clubs have been in existence for over 100 years.
There are many small boutique style cafes in Wilston, and it is quite common for locals to glide through their weekend mornings relaxing with friends in local cafes. Many other gyms and sporting clubs are also popular activities in Wilston.
School Zones
Many wealthy professionals within Wilston send their children to the well-known independent schools in the CBD such as Brisbane Grammar School, Brisbane Girls Grammar School & All Hallows School.
Wilston State School in the nearby Grange serves the youth of the suburb and the adolescent students generally attend Kelvin Grove State College & Kedron State High School.
Red Hill Special school is well renown throughout Brisbane and for students of special needs.
It should be noted that many of the well-known northern suburbs such as Wilston have a strong history of parents sending their children to the prestigious private schools in the CBD, significantly more than many other parts of Brisbane.
Demographics
Wilston is known as one of the more affluent postcodes of Brisbane, the median weekly household income is $3,003 per week – close to double the state average. In recent decades, Wilston has continually outpaced the average income of the state.
Alike to many of the neighbouring suburbs, Wilston has an owner occupier rate above 70%, with over 30% of residents owning their properties completely outright. More than 50% of these households are families, above the state average.
Prices in Wilston are also high for Brisbane, over $1.5 million dollars which is only increasing over time. Internationally in recent years there has been increasing demand from people from the UK, New Zealand, India & South Africa.
Around 60% of the workforce is actively working full time, and there are many double income households in Wilston, which contributes to the wealthier demographics of the suburb. Many of these dual income households earn above $4,000 per week comparable to some of Australia’s wealthier postcodes.
Employment
Over 65% of Wilston’s residents are working in Professional Services. Many of the residents are employed within healthcare as it is within very close proximity to Royal Brisbane and Women’s Hospital.
The other roles within Wilston’s resident population are quite varied across IT, Legal Services, Engineering & State Government Administration. It should be noted that many of the dual income households are compromised of dual professional workers.
Transport
Wilston is well located for transport within Brisbane. It is situated close to many of the main roads that distribute traffic all over the city south and north towards the Sunshine Coast.
Wilston Railway Station provides residents with regular train services to Ferny Grove, the CBD & Beenleigh. Often many of the younger residents of Wilston use this method of transport.
There are a few major bus lines that run through the suburb too, particularly towards Newmarket. These lines run anywhere to the CBD south and north towards Brighton and Redcliffe.
Shopping Centre's, Restaurants & Facilities
Wilston is a vibrant suburb and very green. The leafy streets and appealing traditional homes provide a great atmosphere for many families.
Wilston has a nice array of local restaurants and eateries that lie close to the train station and along Kedron Brook Road. These lie between authentic international cuisine and up market boutique style restaurants.
The local Newmarket centre is an excellent nearby location where many locals are within walking distance to, particularly in the southern end of the suburb, south of the railway station. Many of the local gyms lie in both of these precincts, popular amongst younger residents and many professional workers. For most of the larger shopping, residents often travel into the CBD which is only 5-10 minutes away or to Hendra, within 10-15 minutes.
There are a few aged care and retirement living centres in the suburb and nearby. Herston medical precinct also serves as a great facility for many different medical and specialist services.
Development
Wilston has always been a sought after Brisbane suburb; it is higher up away from the floodplains, close to the CBD and in an extremely green and beautiful pocket.
Most of Wilston is compromised of low density single detached dwellings, particularly in many of the streets which are tree lined and quiet.
Medium density in recent years has become more common in Wilston, particularly towards the station, Newmarket Road & Kedron Brook Road. Density is higher in these areas as is the zoning, and heavily in demand from many boutique and wealthy developers.
A large part of development occurring in Wilston is knockdown rebuilds from old Queenslander dwellings to the modern open plan double story dwellings. Many of these new rebuilds have values above $3 million, which as well provides developers with a significant potential upside.
Capital Growth
Wilston is one of the best performing suburbs in Brisbane, consistently in the past and into the future.
Wilston is a suburb of inherently low stock from Brisbane and high demand from wealthy people. This is particularly common from people residing in both Melbourne and Sydney.
Generally, Wilston averages between 8-9% capital growth, with 3-4 bedroom family dwellings on the quiet streets generally outperforming the majority.
Units and townhouses generally perform at between 5-6% growth, generally better than the standard Brisbane growth rate, due to the limited supply. They are large in demand from the younger working professional demographic.
Cash Flow
Houses in past times averaged over 4.5% yield, however in recent years average closer to 3.5%. This is due to the inverse relationship between high capital growth and yield.
Units generally average between 4-5% yield, generally the higher performing units have a higher level of fixtures and fittings.
Rental Demand
Vacancy rates for houses generally sit below 2%. Rents over the past decade have nearly doubled, largely due to the excess demand and short supply for houses.
A large reason for this is due to the high owner occupier nature of the suburb and in demand lifestyle. Houses that are in the quieter streets generally perform well in comparison to the busy main roads and close to the train line.
Vacancy rates for units and townhouses generally range between 2-4%. This is generally due to the progressing nature of many professional workers that call them home.
Why You Require a Buyers Agent in Wilston
Wilston has extremely low supply, which has been consistent for the past decade and only increasing. Added demand has only made it more difficult to purchase a property in Wilston, especially with a large demand from ‘Southern Money’.
Many Melbourne and Sydney residents are looking at Brisbane’s northern suburbs and Wilston is one of the most popular. At times, people are bidding site unseen for unbelievable sums which is where a prospective buyers strategy is critical.
Understanding the reasons for a vendors transaction is important in Wilston, locals tend to stay for the long haul and there are often methods of strategy that allow you to secure places for a very reasonable price.
Having someone in your corner who understands the strategy behind this, and active experience is crucial moving forwards in a suburb such as Wilston. Inexperienced buyers are often put off by how difficult it is and either give up or make bad mistakes.
Correctly identifying what asset to purchase for your situation saves tens of thousands and dollars in the short run, headaches and also makes you well above average sums of money in the long term.
Why not seek Professional Advice from one of our consultants
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