Lifestyle changes and migration from interstate or overseas have driven house prices in Brisbane to record-high numbers, with the property market in Jindalee tripling its growth from 7.11 percent to 21.4 percent within the 12-month period from July 2020 to June 2021.
Latest data from Property Market Updates shows that Jindalee’s median house price increased from $640,000 to $784,000 in 12 months, with the highest sale closing at $1.68 million.
Prior to the pandemic, Jindalee’s median house price was at $587,500 (July 2018 to June 2019) and $597,500 (July 2019 to June 2020).
- The Jindalee property market posted a 21.4 percent growth from July 2020 to June 2021.
- The median house price increased from $640,000 to $784,000. The median unit price went from $505,250 to $567,500 for the same period.
- Three Jindalee houses sold above the $1-million mark from April to July 2021.
About 105 properties were sold in the first quarter and 28 in the second quarter, as house listings stayed on the market for 25 to 31 days. Inventory in the $580,000 to $940,000 range moved faster, spending an average of 19 days on the market.
Unit Price Growth
Meanwhile, unit sales in Jindalee exhibited a 12.32 percent growth in the 12-month period ending June 2021. The median price for units was at $567,500 in June 2021, up from $505,250 in June 2020. Some 10 units were sold during the same period, with the highest sale closing at $735,000.
Steady Rise After the 2011 Floods
The years since the devastation wrought by the 2011 floods have seen Jindalee recover steadily.
Just two years after the floods, house prices in the suburb started to rise, a trend that hasn’t stopped despite the coronavirus pandemic.
Although prices dropped by as much as 10 percent for houses with severe flood damage, many savvy and educated buyers saw an opportunity for investment, backing up their purchases with insurance premiums to cover their risk.
Jindalee’s steady recovery is a strong indication of continued buyer confidence in the suburb’s liveability.
Statistics from Experian Australia show that older couples and families make up the largest percentage of people living in Jindalee. The suburb is also slowly attracting a throng of professionals who want to set their roots in a place with plenty of parklands, dog off-leash areas, public swimming pools, and a very long bikeway, all for less the cost it would take to buy a house or unit in Paddington or Indooroopilly.
Though lacking in bars or nightlife, Jindalee has a growing cafe culture for professionals and adults, as well as a good number of good primary and secondary schools. A reliable Neighbourhood Watch group also helps keep the community safe.