Simon Says: Why Milton has made the national top 10- but beware!

With the Australian Open now underway it’s probably not too much of a reach to expect that most outside of Brisbane may have only heard of the Brisbane suburb of Milton, because of its long association with tennis.

It was once the Queensland home of the racquet-  Australian championships, Davis Cup and other major internationals.

The space still hosts some courts and tennis enthusiasts as part of the FREW Park complex, but Milton, like the tennis centre it once housed has been refreshed.

Frew Park image- flickr.com

Frew Park
image- flickr.com

So it’s no surprise it has recorded a 200% increase in rental listings and has made the top 10 of rental hotspots around the country according to year on year growth figures released by realestate.com.au

This is why:

PicMonkey Collage

  • Milton is a hub for public transport. Bus, Citycat and Rail. It’s the stop for Suncorp Stadium and all the sport and entertainment that is held there.
  • River walkway and cycleway- Just 3 kilometers from the Brisbane CBD.
  • The ICB (Inner City Bypass) means a quick run to the airport.
  • Modern Conveniences- schools, shops, entertainment.
  • Great Infrastructure- parks, roadlinks and established café precincts.
  • Located at a central point for 3 University campuses.

Ranked no 6 in Australia for rental demand, Milton is attracting more visits per property than the average in Qld with the median rental prices ranging from $450PW for a 2 bedroom home to $665PW for a 4 bedroom home.

Units, though are attracting a greater income for owners.

A 1 bedroom unit rents for $400PW, a 2 bedroom unit averages $540PW, while a 3 bedder demands a median price of $725PW.

Investing? The median house price in Milton is $701, 000 or you can purchase a 2 bedroom unit for around $520 000.

With Milton’s proximity to the University of Queensland, QUT including the city and Kelvin Grove, it’s no wonder 33% of renters in Milton are independent youth, 17.9% are maturing and established independent renters while

9.8% are older couples and families.

Part of the attraction and why the suburb has soared in the top 10 is our demand for the latest.

Units under construction in Milton

Units under construction in Milton

Investors and renters are flocking to the brand new, sparkly units that are becoming prevalent in Milton choosing what’s new on the market instead of the older style units that meet their location requirements.

But my caution is no surprise when a lot of unit complexes are being constructed in the one area.

If you are renting it’s perfect, but if you are buying make sure you go into the investment with a longer term plan and if you need guidance please get in touch.

 

 

 

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