Median House Price Rises As Demand Grows for Homes in Mt Gravatt

Mt Gravatt
Photo Credit: Google Maps

Investing in a house in Mt Gravatt remains a good decision for those looking to cash in on a spacious but affordable property close to the Brisbane CBD, with a strong potential to continue the upward trend in value over the next few years.  

From July 2020 to June 2021, Mt Gravatt’s property market has shown an uptick and the median house price rose by 13.64 percent, as buyers from interstate consider leaving congested Sydney or Melbourne to move to Brisbane’s suburbs. 

In Mt Gravatt, the cost of buying a family home close to the CBD is a sound investment as residents could live in a beautiful detached home to raise a family near the best schools, enjoy a comfortable lifestyle with heaps of employment options, and still have savings in the bank.

The median house price for this suburb sits at $750,000, higher than the Queensland median. Homes in Mt Gravatt can be had for a reasonable budget for many buyers looking for a location with good access to the Gateway Motorway and other transport infrastructure; lifestyle and retail centres like Westfield Garden City; and schools such as Griffith University; and medical facilities. 

During this 12-month period, 60 properties, listed at an average of 28 days on market, were sold in Mt Gravatt, indicating a tight market with such high demand, per data from Property Market Updates.

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Photo Credit: Property Market Updates

Unit Price Growth

Off the back of a resilient housing market, Mt Gravatt’s unit market has also improved in the same time period with an 8.60 percent growth on the median unit price. Listings were on the market for an average of 48 days, fetching a median unit price of $505,000. 

Mt Gravatt’s apartment market attracts downsizing households who need access to good transportation and recreation, as well as young families who want a good education and employment opportunities. 

Photo Credit: Property Market Updates