Today’s property is located at 47 Broadmoor Street, Kenmore Hills in Brisbane.
It’s a potential one-into-two-lot subdivision.
Kenmore Hills is 18 km from Brisbane’s CBD with a travel time to the City by car of approximately 27 minutes off-peak.
In the 2016 census, Kenmore Hills had a population of 2,402 people.
Households in Kenmore Hills are primarily couples with children and are likely to be repaying $3,000 – $3,999 per month on mortgage repayments.
In 2016, 82.9% of the homes in Kenmore Hills were owner-occupied.
Property Market Performance
Kenmore Hills 4069 has a modest average monthly sale volume with 3 houses sold.
That’s indicative of constrained supply rather than a lack of demand.
The time taken to sell a house (days-on-market) currently is 16.
This has decreased from 22 days twelve months ago.
According to Core Logic, the median sales price of houses in Kenmore Hills is currently $1,390,000.
The suburb Location Score for Kenmore Hills is 65.
The highest recorded score of any suburb in Australia is 71.
So Kenmore Hills enjoys above-average demand and constrained supply.
The prevailing market posture in Kenmore Hills can be described thus:
- Sellers are in no panic and buyers are making decent offers.
- This is a healthy market for investors.
- Demand is ahead of supply, but not alarmingly.
- Buyers are rarely able to get away with low-ball offers.
- Sellers are usually getting the prices they ask for.
- Expect growth to exceed the national average.
There are 1,178 similarly priced markets.
But only 25 of them have a higher Location Score than Kenmore Hills.
So that establishes this location as one with favorable conditions for investors that want to capture accelerated capital growth via value-add strategies.
Development Potential
The opportunity to be investigated here is a potential one-into-two-lot subdivision.
The property has a Low-Density Residential zoning, conferring the potential for a one-into-two lot subdivision with its 25m frontage and 846 m2 area.
The dwelling is rentable as is, but is significantly depreciated.
Potential issues to discuss with a Town Planner include:
- Dwelling House Character
- Airport Environs
- Critical Infrastructure and Movement Network
Sewer, water, and power are in close proximity.
The water main runs along the southern side of Broadmore Street directly outside the property’s front alignment and the property has a water supply connection at the western end of the front alignment.
An easy connection to the water main for any new lot created should be possible without the need for any road tunneling.
But as always, discuss in detail the constraints, opportunities, and cost of creating and servicing a new lot with both a Surveyor and Civil Engineer.
Selling Agent For This Property
Today’s opportunity is on-market through the selling agent, Jarrod Hooley of Brisbane Real Estate (0439 907 346).
Property Listing
Core Logic Property Report
Trusted Resources
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We recommend this battle-proven team.
You can rely on them and trust their advice.
But as always, do your own meticulous due diligence.
That’s on you.
So don’t attempt to outsource that.
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