Chermside population set to double by 2036
Brisbane is continuing to see its population rise, but one suburb in particular is expected to explode with its population set to almost double by 2036.
Chermside has been pinpointed as one of Brisbane’s fastest growing suburbs, according to forecasts from Resolution Research Strategists which expect an increase in over 8,500 residents between 2016 and 2036. This is an average annual population growth of 3.1 per cent, compared to the greater Brisbane region that sits one per cent lower at 2.1 per cent growth rate during the same time period.
Situated 10km north of Brisbane CBD, Chermside is ideally placed close to everything residents require including major transport routes such as the Northern Busway, whilst residents also have shopping centres, education and hospitals all within easy reach.
By 2036, the population of Chermside is set to double and reach more than 18,500 people. The suburb currently has more than $154 million worth of residential building approvals underway, whilst has reported an annual growth rate of 6.2 per cent in residential apartment values over the past 12 months, according to 360 Residential Project Marketing.
Apartment living is well supported here, with key employment, health and education nodes right on the doorstep. Not only are professionals eyeing up Chermside, but the suburb is also attracting university students, young families as well as retirees.
Young professionals enjoy the easy commutes to the CBD as well as key employment hubs, whilst families love the abundance of green open spaces, playgrounds, walking trails and bikeways, alongside a plethora of schools and the Westfield Shopping Centre, the largest shopping centre in Queensland. The relaxed pace of life also attracts many retirees here within this active and friendly community.
Even with this diverse demographic mix, quality apartments still remain very attractive to both owner occupiers and investors, due to the low maintenance lifestyle required and the affordable prices compared to closer in to the city.
According to Resolution Research Strategists director Diana Howe, “Chermside is one of the top performers in Brisbane’s northern CBD and the population is tipped to reach more than 18,500 by 2036.”
She also added, “It’s considered to be one of the biggest employment regions on Brisbane’s northside with the Australian Tax Office, Prince Charles Hospital and other auxiliary hospitals and government departments based there. Employment figures are set to grow even more when the redevelopment of Westfield Shopping Centre is completed next year.”
With the population projected to increase by more than 8,500 residents, Chermside certainly has an underlying demand for new quality apartment developments over the next few years to cater for this increase in demand.
Currently at iBuyNew we have several new off the plan developments within Chermside to choose from catering for single professionals and couples all the way to families with children. Now is a great time to purchase in Chermside to make the most of this growth, no matter whether you are an owner occupier or an investor.
If you are a first home buyer, then you could also be eligible for the first home owner grant which could save you a massive $20,000.
As well as Chermside offering more affordable property opportunities, property investors are also looking more closely at Brisbane’s more middle-ring suburbs. Earlier this month, Place Advisory’s 2016 Investor Sentiment Survey reported that 43% of investors now prefer to invest in properties within Middle Brisbane (5km – 10km from Brisbane CBD) and that having public transport, retail and entertainment opportunities close by is becoming a more important concern for investors.
To find out more about our apartment availability within Chermside or to learn more about what makes Chermside a growth suburb and why it’s population is set to double, it’s best to get in touch with the Property Consultants at iBuyNew. We can provide you with all the latest facts and figures available and show you why Chermside or one of the other Middle-ring Brisbane suburbs is worth investing in today.
Call us on 1300 123 463 to learn more.
Published on 8th of August 2016 by Marty Stanowich