Knockdown rebuild & land subdivision within established inner-ring Brisbane suburb
- Purchased 2018 – construction completed 2020
- Project type: Knockdown rebuild & land subdivision within established inner-ring Brisbane suburb
- Dwelling type: 2 X Freestanding Double Story Houses:
– House 1: 5 bedrooms + study + media room, 3 bathrooms, 2 car garage
– House 2: 5 bedrooms + study + media room, 3 bathrooms, 2 car garage - Total project cost: $1,558,200
- Land cost:$810,000
- Build & site cost: $748,200
- Land size: 814m2
- Build size: 548m2 (House 1: 276m2 / House 2: 272m2)
- Rent return: $1,870 total per week (House 1: $940 / House 2: $930)
- Purchased: 2018 (construction completed 2020)
Location profile*
Wavell Heights, situated just 9 km north of Brisbane’s CBD, has emerged as a prime location for property investors. Its blend of post-war charm and modern developments, coupled with strong community infrastructure, positions it as a suburb with significant growth potential. This location combines steady capital growth, strong rental yields, and strategic infrastructure developments. Its proximity to the CBD, coupled with a family-friendly environment and ongoing urban enhancements, make it a suburb poised for continued growth.
Key Investment Highlights
- Consistent Capital Growth: As of 2024, the median house price in Wavell Heights stands at $1.3 million, reflecting an annual growth rate of 7.1% over the past 18 years.
- Robust Rental Market: Houses yield an average rental return of 2.9%, with a median weekly rent of $700. Units offer a higher yield of 4.2%, with a median rent of $500 per week.
- Low Vacancy Rates: As of November 2024, the suburb boasts a low vacancy rate of 0.7%, indicating strong demand for rental properties
- Desirable Demographics: With a population of approximately 12,218 and a median age of 37, Wavell Heights attracts families and professionals seeking proximity to the city without compromising on community feel.
- Affluent Community: The average household income in Wavell Heights is $2,615 per week, which is 41.4% above the Greater Brisbane average, reflecting a financially stable and affluent community.
- Green Spaces: The suburb spans approximately 4.1 square kilometers, with 19 parks covering nearly 16.6% of the area, offering residents ample recreational spaces.
Major Infrastructure Projects Enhancing Wavell Heights
Several infrastructure developments in and around Wavell Heights are set to enhance its connectivity and livability:
- Brisbane Metro Project: A city-wide infrastructure project that will enhance public transport efficiency, indirectly benefiting suburbs like Wavell Heights through improved connectivity.
- 2032 Brisbane Olympics Preparations: Infrastructure developments related to the upcoming Olympics, such as the proposed new stadium in Victoria Park, are expected to boost the city’s profile and infrastructure, positively impacting surrounding suburbs.
- North West Transport Network (NWTN): This initiative focuses on improving transport options in Brisbane’s north-west, including road upgrades and public transport expansions, directly benefiting Wavell Heights residents.
- Albion Train Station Upgrade: A significant redevelopment of the nearby Albion station will improve accessibility and support future interchange demands in Brisbane’s inner north.
- Albion Exchange Development: A $750 million transit-oriented project adjacent to Albion station aims to revitalize the area with mixed-use developments, enhancing the suburb’s appeal.
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