2021 Taringa Property Market Outlook
We explore the 2021 Taringa real estate market and take a look at property values, buyer demand and what to expect if you’re selling this year.
2021 Taringa Real Estate Market
Real estate in Taringa offers an urban sanctuary for residents in 2021, with excellent connections to the city as well as being just minutes to some of Brisbane’s most respected schools.
Once upon a time, Taringa could be considered a bit of a local’s secret. Tucked between Toowong and Indooroopilly, this neighbourhood often flew under the radar – but that is clearly no longer the case.
Search activity for people looking to buy real estate in Taringa has increased dramatically since 2020 and we have seen property values increase 14% over the past two years.
It’s easy to see why so many people are drawn to this sought-after suburb.
Urban living in Taringa
The popular areas of Goldsbrough Road and Waverley Road enjoy wide, welcoming streets. Along Stanley Terrace, some magnificent homes boast elevated views with a superior northeast aspect.
Whilst contemporary apartments along Swann Road are popular among downsizers because of their stunning panoramic views of the city.
Esteemed schools drive Taringa’s property values
In addition to a wide variety of quality housing, real estate in Taringa is also on many people’s radar because of its close proximity to esteemed schools.
To the east of Moggill Road, households fall into the renowned Ironside School catchment zone and children are within walking distance of Indooroopilly State High School, Brigidine College and St Peter’s Lutheran College.
We know that schools are a major driver for property values in Taringa and buyers will actively search for homes within these specific school catchments.
Because of the ongoing demand for schools in Brisbane’s inner-western suburbs, the State Government has now committed $65M to building a new primary school in the area.
New school earmarked for Taringa
Consultation between the Education Department and the community is currently underway to determine the most suitable location for the new school.
Local Maiwar MP Michael Berkman is pushing for the school to be built in Taringa, recognising “It’s a growing suburb, accessible via public transport and doesn’t have a school (after the old Taringa State School was closed in 1996).”
Once the site is approved, the government hopes to have the school open for day 1, 2023 and delivering classes from Prep to Year 6.
As we’ve often seen before, homes within the neighbouring streets of this new school will most likely experience growth in property values as they benefit from the proposed educational infrastructure.
Taringa Village set to open Coles Local
Taringa will also become home to Queensland’s first Coles Local store, with construction underway on the corner of Swann Road and Moggill Road.
The development will see the vacant lot transformed into a smaller, more traditional grocery market.
Architects ThomsonAdsett hope the design will further enhance Taringa Village and the specialty stores which line Moggill Road.
Landscaping, streetscape, pedestrian awnings and benches have all been included in the proposal.
Adding further appeal to Taringa, is the opening of the Taringa Community Garden at Perrin Park in March 2021.
A fantastic neighbourhood initiative, the community garden includes a veggie patch and composting station for locals, as well as gardening meetups every Sunday morning.
Real estate values to reach new heights in 2021
As Taringa’s urban appeal continues to be enhanced, property values in the area are following suit.
The median sale price for a house in Taringa is now at $990,000 which is 9% higher than this time last year.
Although Taringa hasn’t quite reached its pre-pandemic levels (the suburb recorded a median of $1M in March 2020), property indicators suggest real estate values in Taringa are on track to surpass this in 2021.
More than 290,000+ searches are being made by buyers for properties to buy in Taringa, every single month. According to realestate.com.au, that number has increased by 65.4% since 2020.
This spike in buyer activity is boosting numbers through open homes and we have seen a surge in buyers pro-actively looking for off-market real estate opportunities in Taringa.
A two bedroom cottage at 85 Goldsbrough Road, Taringa was sold off-market by our team, achieving $840,000 for our clients. This is just one example of the long list of buyers who are looking for similar properties in Taringa.
11 Tyne Street, Taringa was also sold in just 6 days to an Australian couple who are currently living abroad.
Our team facilitated a virtual inspection of the property, which ultimately led to a cash sale of $1,135,000.
The house has since been rented by our property management department for $1,050 per week.
Presentation major focus for apartments
Apartments in Taringa have remained fairly stable over the past 12 months, with the median sale price currently $410,000.
Typically, the demand for apartments is not quite as high as you would see for houses in the area.
However despite this, we are still seeing good results for Sellers who enhance the presentation of their apartment and price the property appropriately.
Property investors in Taringa reap rental yields
Rental yields are also looking positive for property investors in Taringa. The average rent for an apartment is $380 per week which offers a yield of around 4.8%.
Houses are averaging $488 per week for a tidy, three bedroom home.
With demand for real estate in Taringa remaining strong, 2021 is proving to be a favourable market for both Sellers and Landlords in Taringa.
Families who have made the decision to sell this year, are being rewarded with high levels of buyer enquiry, good sale prices and low days on market.
While homeowners who have chosen to lease their property are waiting less than 10 days for our team to secure a suitable tenant for their home.
Researching the market?
Find out exactly what’s happening in your suburb with our free 2021 Local Market Report.
- Suburb spotlight on Toowong, Taringa, Indooroopilly and St Lucia
- Explore the change in property values over the past 4 years
- Investigate the trends affecting our inner-western suburbs in 2021