Westlake Property Market Exhibits Stable Growth Amidst Continued Buyer Interest

Westlake
Photo Credit: Google Maps

Homebuyers scouting for a stable investment that won’t break the bank can look towards the tree-lined streets of Westlake within the Centenary suburbs, an understated, attractive neighbourhood that offers some peace and quiet by the riverfront. 



Between the period of July 2020 to June 2021, Westlake has attracted 68 home sales with deals closed within 39 days on market, per data from Property Market Updates. Healthy buying activity has pushed Westlake’s property growth upwards by 8.62 per cent with the house median price now at $806,500.


Photo Credit: Property Market Updates

Properties with four to five bedrooms fetched the most interest from buyers looking for a spacious house in a quiet neighbourhood to raise their kids, amidst the changing preferences of the people, post-COVID, to live in a house surrounded by nature. Since interstate or overseas travel are limited, many locals now value larger spaces and backyards and are willing to pay a premium for them. 

A mansion on Westlake Drive sold the highest price for this time period at $1,850,000. Featured with modern yet practical architecture, this property comes with its own backyard pontoon perfectly fitted for a 45’ cruiser.

About Westlake

Westlake, bounded by Mount Ommaney, Middle Park and Riverhills in the western part of Brisbane, includes a mix of houses, as well as large-scale properties close to the river. Most of the houses in this peaceful locale are owner-occupied thus the vacancy rate is quite low. There are no unit constructions in town as nearly 97 per cent of the houses are detached whilst the rest are townhouses or terraces.

Photo Credit: Google Maps

The majority of people living in Westlake are families with one or two children. While abundant in green spaces for the kids to use for their recreational activities, there are no schools in the suburb itself. The nearest schools are in neighbouring suburbs like Middle Park, Jamboree and Jindalee. The bus transport access in Westlake is efficient and there is a commercial precinct where they can easily buy the essentials.



“Absolutely beautiful suburb, wide tree-lined streets, big beautiful houses that are well maintained, peaceful and quiet streets, safe and friendly neighbourhood. The new restaurant and cafe precinct is lovely and once a year the jacaranda trees turn our streets the most amazing light purple colour when they drop their flowers, it’s very pretty! Absolutely love it here.”

Kyryas 

“I’ve lived in Westlake for 5 years and wouldn’t dream of moving anywhere else. It’s a very quiet area and you feel quite safe here, especially with a family. Three parks are only a stone’s throw away, there are shops nearby without the noise and traffic, a scenic walking track along the river and an off-leash area for dogs. It’s only a half-hour drive to the city on a good run. If you prefer suburbia over inner-city living, then this is the place.”

PCoffey

“Westlake has an abundance of facilities available to the area which allows us to live in such a great suburb. Beautiful… 4 years ago when I first came to Australia, Brisbane I was about to get depressed but since I moved to Westlake about 2 years ago everything changed. It’s absolutely a beautiful place to leave. I am quite happy to drive 30 min each way to work every day but live in Westlake.”

Westie