Do You Notice Property Growth In The Rocklea/Acacia Ridge Area?
Is the Rocklea/Acacia Ridge area a good area to invest in?
Do you notice good growth in that area and why?
Acacia Ridge is a southern suburb in the City of Brisbane. It’s a suburb that has been consistently ticking away and gentrifying.
In the last 10 years it’s outperformed Brisbane’s overall growth with a reported 3.39% average annual growth rate according to Top Suburbs.
A few years ago about a third of Acacia Ridge was rezoned to allow for low to medium residential and high-density residential. This opens up the opportunity for more development in the area which may partly explain its above average growth over the years.
5-10 years ago driving through the suburb was extremely different than it is now. It was kind of like being in regional Australia. It was very run down, but the government has been selling out one property per month for a few years and there have been developers coming in with new projects.
Acacia Ridge has multiple train stations within just a few kilometres walking distrance and it sits next to Sunnybank and Sunnybank Hills which on average are much more expensive suburbs.
This means Acacia Ridge could possibly benefit from the ripple effect.
It has a university as well as a large shopping centre. For years it’s been a suburb sitting there that is still super affordable.
It still has some housing issues and there are still a lot of first generation immigrants there as well as a lot of people on housing commission. However, housing commission doesn’t seem to negatively affect capital growth.
There’s still a lot of blue collar workers there but if it’s a 15-20 year buy and hold I find it difficult to see how you are going to lose in this suburb.
It’s only 14km from the CBD so it’s a really interesting area. With Brisbane tipped as the highest performing city in the coming years Acacia Ridge will be a suburb to watch closely.