Mount Ommaney homeowners hold onto their properties for an average of 20.3 years, making it the suburb with the longest tenure rate in Brisbane, according to new CoreLogic data.
The report from CoreLogic highlights that several Brisbane suburbs have notably low property turnover rates, with Mount Ommaney leading the charge. Homeowners in this leafy and laidback suburb are reluctant to leave, with the average tenure period extending over two decades. Following closely are Tivoli with an average of 18.4 years, Wishart at 17.9 years, Middle Park at 17.8 years, and Robertson at 17.7 years. This is significantly higher than Brisbane’s overall average of 8.1 years.
Top 10 QLD Suburbs with Longest Hold Periods
| Suburb Name | Median Hold (12 Months) | Median Value | 20yr change |
| Mount Ommaney | 20.3 | $1,428,594 | 90.8% |
| Tivoli | 18.4 | $567,557 | 161.5% |
| Wishart | 17.9 | $1,303,826 | 216.7% |
| Middle Park (Qld) | 17.8 | $1,087,371 | 149.2% |
| Robertson | 17.7 | $1,735,036 | 232.7% |
| Cedar Grove | 17.6 | $885,719 | 190.7% |
| Chambers Flat | 16.1 | $1,229,808 | 149.0% |
| Gumdale | 15.1 | $1,641,835 | 189.5% |
| Windaroo | 14.0 | $837,232 | 129.6% |
| Bunya | 14.0 | $1,525,337 | 151.3% |
The Appeal of Family-Friendly Suburbs
Tim Lawless, CoreLogic’s research director, attributes these extended hold periods to the family-friendly, middle-class nature of these areas. These suburbs offer a lifestyle that promotes long-term residency, with middle-income earners finding it more achievable to break into and remain in these markets.
Lawless explained that these areas may not be described as blue-chip, but they offer a lifestyle cycle that encourages long tenure periods. With rising property prices and lower turnover rates city-wide, affordable suburbia has become a prized commodity in Brisbane.
Mount Ommaney: Community and Lifestyle
The community spirit and convenient amenities in Mount Ommaney make it an attractive place to settle down. NGU Real Estate’s Jason Yang noted that the Jamboree Heights State School catchment is a significant draw for families. The suburb’s proximity to the CBD, combined with a close-knit community, keeps residents rooted.
Yang mentioned that it is difficult to find another area 15 kilometres from the CBD that offers a similar lifestyle. He noted that lowset homes are now starting at $680,000, a stark contrast to the higher prices seen just a couple of years ago.
Real estate agents from LJ Hooker and Ray White also confirmed the high demand and limited supply in these suburbs, driving up property values and keeping turnover rates low.
Another reason residents stay put is the tight-knit community in Mount Ommaney. Multiple generations of families often live in the same suburb, enjoying the benefits of established neighbourhoods and strong community ties.
Published 31-July-2024
