House prices in Shorncliffe have risen by 26% since 2006, which ranks them fourth for price growth in the Greater Brisbane area.
Bahrs Scrub topped the list at 34% while Mount Crosby came second at 30.1%.
Shorncliffe vendors Paul and Jan O'Brien are selling their home at 14 Eagle Terrace after 12 years living in the area. After spending $250,000 on the land in the late 1990s, their architecturally designed four bedroom home has now been put on the market for offers over $2million. Mr O'Brien said he's surprised at how much land is now worth.
"It was very much a country sort of a place," he said. "When we moved here, the retail strip wasn't there, it wasn't the popular place to go - it was a hidden treasure."
Mr O'Brien said people were now drawn to Shorncliffe for its good schools, cool sea breezes, access to transport and views of the coastline.
Second Avenue Realty principal Gai O'Driscoll said people looking for potential investment suburbs should consider anything near water. "In this area, the closer you are to the trainline, shops and waterfront, the more you get for your money," she said.
Article by Ben Johnson Printed in the Northside Chronicle Property
11 January 2011
