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Taringa 2020 | Property Market Trends

Taringa 2020 | Property Market Trends

Taringa is a hidden gem just 10 minutes from the City, with leafy streets, buzzing cafés and a real community feel to it.

Tucked between sought-after Toowong and Indooroopilly’s renowned school precinct, Taringa is the peaceful neighbour with an appealing price tag.

The area offers a wide variety of homes, which range from upmarket Queenslanders and original cottages, to contemporary terrace homes and a diversity of apartments. In recent years, many post war homes have been sold, making way for the building of new properties as new generations move to the area.

The suburb offers a fantastic lifestyle for residents and presents great buying opportunities within Brisbane’s inner-western suburbs. The median sale price is currently $900,000 as at April, making Taringa one of the more affordable suburbs compared to Toowong, Indooroopilly, St Lucia, Bardon and Auchenflower. With an appealing price tag, Taringa has gained the attention of savvy homeowners looking for an inner-city haven.

One of Brisbane’s most liveable suburbs

At the end of 2019, Domain revealed Brisbane’s most liveable suburbs with Taringa being ranked in the top 20. The study, which was conducted by Deloitte, took into account 17 indicators to determine which suburbs in Brisbane were the most liveable. Factors included education, public transport, cafés and restaurants, employment, crime, open space, tree cover, walkability and congestion.

Out of the 260 Greater Brisbane suburbs, Taringa ranked 13th overall. The suburb was commended for its abundance of tree cover and highly walkable streets. Domain also awarded points for Taringa’s transport options which gives its residents greater access to employment and reduced commute times.

Even with this positivity, property prices in Taringa were impacted by the market downturn. In February 2018, Taringa reached the peak of its market with a median sale price of $951,000. Throughout 2018 and into early 2019, home values then fluctuated, as uncertainty at a national level left everyone a little wary.

Fewer homes for sale in Taringa

We certainly saw market conditions improve dramatically in the latter half of 2019. Since finding a level in March 2019, Taringa’s median sale price has recovered to $900,000. However, the number of properties coming on the market for sale in Taringa remains well below average. Advertised stock levels are down in Taringa, leaving many buyers waiting for a new influx of homes to hit the market in 2020.

With the limited properties currently for sale in Taringa, we have noticed a shift in buyers’ attitudes since early 2019. Buyers are making themselves known to our team, calling ahead to see if there are any upcoming properties in Taringa which may suit their needs.

Even with the chaos of COVID-19, Taringa continues to be a sought-after suburb. A shortage of properties in the area will put pressure on prospective buyers to compete for the few homes which are available for sale. This kind of environment bodes well for homeowners considering selling in 2020, as competing buyers will often pay more for a property in the fear of missing out.

View monthly market insights for the Taringa Property Market

Local Market Report 2020 Brisbane

Interested to learn more about Taringa?

Find out exactly what’s happening in Taringa with our 2020 Local Market Report.

  • Explore the change in property values over the past 4 years
  • Find out where buyers for Taringa are coming from
  • Top recorded sales in Taringa
  • Median sale price for houses and apartments
  • Average rental values for Taringa

 

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Byrony O'Neill

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