Kangaroo Point Cliffs and park on Lower River Terrace, Kangaroo Point.
Kangaroo Point suburb profile
With excellent walkways and picnic spots, Kangaroo Point continues to welcome new residents as people gravitate closer to the CBD.
Location
Kangaroo Point is across the river from Brisbane’s CBD, making it a short commute to the city or the Valley for its residents. Situated on a bend of the Brisbane River, it’s a suburb with river and city views aplenty.
Property development
Home to more than 6000 residents, the riverside suburb of Kangaroo Point has witnessed an enormous amount of residential construction. The resident population in the suburb is estimated to have grown by more than 20 per cent over the past 20 years as both homebuyers and tenants gravitate closer to the CBD.
The redevelopment of the old Evans Deakin Shipyards into the visionary Dockside development in the late 1980s was the catalyst for further residential redevelopment in the suburb, particularly in those areas where maritime activities once took place.
New stages of the Dockside development have been added as well as other residential projects including The Watermark, The Goodwin, Silver Quays, Marquise, and Bridgewater.
Rental returns
With only a short commute to either the city or the valley, Kangaroo Point remains a very popular suburb with renters.
The size of the suburb's rental market has grown strongly nearly doubling in size during the past 10 years. Investors are still the main buyers in Kangaroo Point.
This level of demand has had an upward impact on rents in the area with the median rent for a three-bedroom house increasing 13 per cent to $450 per week between June 2007 and June 2009. The median rent for a two-bedroom unit increased 15 per cent from $370 to $435 per week over the same period.
Investment
The latest REIQ gross rental yield report shows Kangaroo Point has a yield of 4% for houses and a healthy 5.1% for units.
"As Kangaroo Point remains a popular location for tenants, it also remains a popular suburb for investors who are benefiting from steady rents and solid yields," REIQ managing director Dan Molloy said.
Students flock to college
A substantial new development in Kangaroo Point has been Shaftson International College which was established in 1996. The college, which offers English and Hospitality courses, has resulted in thousands of international students calling the area home during their studies.
Over the past six months, sales have been healthy in a student accommodation development in Castlebar Street, as well as residential unit and townhouse developments in Goodwin, Lambert and Main streets.
Transport
Residents of this sought after suburb enjoy close proximity to the CBD and have access to excellent public transport. In addition to regular bus services to the city and other attractions such as the Brisbane Cricket Ground (The Gabba), most residents are within walking distance to CityCat ferry terminals for quick access to the city or a leisurely cruise to South Bank or Brett's Wharf at Hamilton.
Residents who prefer to drive can access the city via the Story Bridge or the Riverside Expressway. The Southeast Freeway from neighbouring Woolloongabba also provides direct road access to the Gold Coast.
Entertainment, shopping and schools
Being bordered by the Brisbane River means that Kangaroo Point plays host to excellent walkways and picnic spots including the popular park spots under the famous Kangaroo Point cliffs.
Local stores around Kangaroo Point are supplemented by a variety of larger supermarkets and retail outlets in South Brisbane, Coorparoo and the city (5 to 10 minutes away) and Carindale Shopping Centre (20 to 25 minutes away).
Although the suburb has no primary or secondary schools to call its own, the proximity of St Laurence's College, Coorparoo Secondary College, Anglican Church Grammar, Coorparoo Primary School, Buranda Primary School, Brisbane State High School and Villanova College mean residents are spoilt for choice.
The Story Bridge Adventure Climb is a must do for visitors and residents alike. Climb Brisbane's bridge icon today and see amazing 360° views of our river city.
The Story Bridge Hotel first opened in 1886 and was originally as the Kangaroo Point Hotel. Since 1967 the Deery Family have owned and operated the pub. Good service, fine pub food and a friendly atmosphere make this a local's favourite.
