USUALLY it’s mum and dad who dig deep to educate their children, but in this southside Brisbane suburb the roles have reversed and students have become cash cows for their parents thanks to the success of the local state school.
House prices in Mansfield have risen almost 37 per cent in five years and the united belief among locals is that it’s on the back of the success of Mansfield State High School.
The public school, which hosts 2500 students, was ranked 12th on the 2017 Naplan results, eclipsing some of the most elite private schools in Queensland, including Somerville House and Brisbane Boys College.
Median house price have rocketed from $472,000 in 2012 to $645,000 in the second half of 2017.
Ray White Real Estate agent Shawn Woolf said the school had lifted the suburb out of the doldrums.
“It’s really the only thing that draws people… there’s not much else in Mansfield,” Mr Woolf said.
“There’s not like there are eclectic cafes and restaurants or weekly markets drawing people to the area. There’s just an Aldi and that’s it… but it is extremely close to Carindale shopping centre.”
He believed parents fortunate to snare a house in the catchment area would save tens of thousands of dollars per year in private school fees.
“People are taking their kids out of private schools and saving themselves a $100,000 a year in school fees for three or four kids and moving to the catchment area for Mansfield,” he said.
“As the school rankings change, the buyers follow the schools and you are constantly asked the same question at open homes, ‘which catchment is this house in?’.”
It’s not only evident to Mr Woolf that the school was having an upward effect on house prices.
Local hairdresser Denise Tilyard has been styling at Snippets Hair Studio in Aminya St for four years and she said the change in the age demographic has stood out.
She said everyone wanted to be in the catchment zone, which extends beyond the suburb’s boundary to include areas of Wishart, Mackenzie, Carindale, Belmont, Burbank and Rochedale.
“Absolutely it’s about the school. They are all trying to get into the catchment area,” Ms Tilyard said.
“As the older residents move out or pass away the houses sell so quickly and it’s because of the school zone.
“It’s revitalising the suburb and we have a young crowd coming through from mid-30s onwards.”
Also situated along the Aminya St shopping strip, a lonely retail soul in Mansfield, is café Bean Brewed, run by Ellia Tsang.
“It’s extraordinary the effect of the school,” she said.
“There’s even the story of a person renting a house and leaving it empty for two years so their children could get into the school.”
Besides the shopping strip, the only other major outlet within the suburb is an Aldi supermarket, while a semi-industrial and business pocket is located near the Mansfield Tavern.
The tavern is linked to Brisbane’s golden era of pub rock in the ‘70s and ‘80s, with some big names once playing the pub’s Rock Arena venue, including the Angels and Midnight Oil.
Mansfield Tavern manager Jake Pinna said almost everyday someone reminisces about the glory days.
“It’s a topic that comes up all the time,” he said.
“About every second customer brings it up when a show is coming up and reminds them of their past and revives those feelings.”
The venue remains intact and still hosts bands, although it also stages boxing nights and was one of the venues where Australia’s latest champ Jeff Horn punched his way to the top, said Pinna.
“It has the name in the Rock Arena, which is the same name as it used to be, and it has a capacity of 1300 but we don’t have the same type of acts we used to,” he said.
“We try and focus on large boxing events and Jeff Horn’s first couple of fights were here and he was recently for one of the recent fight nights.”
The Tavern sits within close proximity to the Gateway Motorway, one of several major roads servicing the suburb.
Mr Woolf said, while the nearest train station was at Cannon Hill, the road system surrounding Mansfield meant it was easy to head in any direction and also avoid any unforeseen traffic snarls.
“The other drawcard for Mansfield is that you have the choice of several different routes in and out of the CBD, so you are never just stuck with the South-East Freeway,” he said.
Brisbane’s middle-ring suburbs are emerging as investment hot spots due to improvements in affordability and infrastructure, according to the Domain Group.
Due to growing demand from renters, the vacancy rate has fallen from 3.4% to 2.1%, which is great news for property investors eyeing strong rental yields, according to the Real Estate Institute of Queensland (REIQ).
Martin Millard, northern suburbs zone chair for REIQ, said middle-ring suburbs have experienced solid price growth.
“When you look at suburbs such as Kedron, in Brisbane’s northern suburbs, which demonstrated extraordinary growth over the past quarter and the past year, you can see the popularity of the middle ring in action,” Millard told the Domain Group.
“This suburb offers access to high-quality high schools and primary schools, is a stone’s throw from shopping centres at Lutwyche and Chermside, the night-time economy of Nundah’s funky bars and pubs, and is on the doorstep of the Airport Link tunnel, which gets commuters to the airport or the CBD quickly.”
Millard said Boondall and Bracken Ridge were also emerging as solid performers, with property prices rising due to their affordability and growing popularity with families.
In the city’s south side, Carindale and Mount Gravatt are rapidly gaining the attention of astute property investors and homebuyers, according to Nick Brown, southern suburbs zone chair of REIQ.
Brown said Carindale’s main attractions were its large shopping centres, well-developed public transport network, and robust employment hub.
“Both Carindale and Mount Gravatt are anchored by multi-million-dollar Westfield centres that have recently been expanded to offer spectacular dining and entertainment precincts — and these add liveability factors to the surrounding suburbs,” Brown told the Domain Group.
It’s no secret that buying a property in Brisbane is more expensive than it used to be.
Even though prices aren’t as high as Sydney or Melbourne, the housing affordability crisis is hitting those who can’t afford to buy a property but face increased rental prices.
A report by the Grattan Institute, released yesterday, said fewer than 50 per cent of Australians aged between 25 and 34 own their own property, with the highest income bracket the only exception.
The ratio of median Brisbane dwelling price to median annual gross household income was 5.7 in 2016, according to CoreLogic figures.
In 2001, that ratio was 3.7.
For many, moving further away from the inner city is the only solution to afford a slice of land.
Anita Cox has recently shifted 10 kilometres from the Brisbane suburb of Carindale to rent in Rochedale, in order to save money to buy a property closer to the city.
PHOTO: Anita Cox says rising property prices forced her to rent further away from the CBD. (ABC News: Donna Field)
“Back in the day mum stayed home with the kids, dad went to work, and they still had their house. Unfortunately that’s not a reality today,” she said.}
“I think it’s a little bit unfair for young people to get into the market.”
Sarah Guymer, who is pregnant with her second child, recently sold an apartment in Taringa but has found it impossible to afford a bigger property in the same area.
“We’re middle-class people with pretty good jobs but we still can’t afford to buy a house,” she said.
“The reality of that is I’m going to have to go back to work as soon as I can, and my husband won’t be able to spend as much time with his family because we have to move a lot further out.”
Ms Guymer said she had been outbid by interstate and overseas investors at recent auctions.
“It’s a bit disheartening to put in bids for houses and you go to your limit and it just gets snatched from underneath you from people who are just expanding their portfolio.”
Anti-development stance will cause long-term pain: experts
PHOTO: The Grattan Institute says heritage restrictions and community opposition is hampering essential development. (ABC RN: David Lewis)
The Grattan Institute’s authors credited the construction boom on the fringe of the Brisbane CBD for keeping unit prices down, while comparable properties in Sydney and Melbourne have soared.
However, they said, that would not fix the city’s long-term housing affordability problem.
“While high-rise developments contribute to the supply of housing in good locations, they can only add so much to the housing stock because they are generally limited to the relatively confined area of city centres, especially in Melbourne and Brisbane,” the authors said.
They said Brisbane’s construction boom did not fill demand for medium density dwellings further out from the CBD.
More housing was required in Brisbane’s “middle ring”, the authors said, but that could be hampered by heritage restrictions.
Another major problem is community opposition to development.
“Any significant policy change to improve housing affordability is likely to encounter substantial opposition, even if the change is clearly in the public interest,” the authors said.
Natalie Rayment, a Brisbane town planner and responsible development advocate, said more housing was needed across the community.
“We need low-density, we need mid-rise, we need townhouses, we need aged care, we need student housing,” she said.
“That’s not all going to be met by some high-rise buildings in our inner-city.”
A new government report has revealed the direction land value is moving in Queensland’s capital city, and what’s behind that movement.
The Valuer-General’s 2018 Property Market Movement Report, following a statewide market survey and consultation with local government, has completed a valuation of some of Queensland’s largest property markets and has found land values have risen by 6 per cent since the last valuation.
Over the valuation period between 2016 and 2017, single residential units saw high levels of competition from local, interstate and international buyers. In this market, a total of 47 suburbs in the city saw no median value increase, while 87 saw rises up to $50,000; 32 saw rises between $50,000 and $75,000, while 12 recorded rises above $75,000, which include Hamilton, Chapel Hill, Seven Hills, Carindale, Holland Park and Sunnybank.
For the multi-unit market, there were slight rises recorded due partly to the Brisbane City Plan 2014, a plan to increase interest in apartments. However, the report noted lowered demand and oversupply meant activity dropped off in the latter half of 2016.
The report also mentioned suburbs impacted by the 2011 floods had seen healthy recovery, with property being sold in some of the flood-affected land at prices similar to non-flood affected land.
Looking further to Logan, Ipswich and Moreton Bay Regional Council, the report shows these areas all experienced improving land areas, with the residential property market seeing land values driven by demand for housing in the Greater Brisbane area.
Logan City saw minor to moderate rises in residential land values due to demand for property located in central and affordable suburbs, such as Browns Plains, while higher values in eastern suburbs, like Springwood and Shailer Park, saw only minor value rises.
A demand for farm land has had a knock-on effect on overall land value in Logan City, along with the Stockleigh, Undullah and Veresdale areas, and in Ipswich City in Purga, Peak Crossing and Willowbank.
Meanwhile, Ipswich City’s residential land values experienced moderate rises in Springfield Lakes and Redbank Plains, while multi-unit land values saw a minor to moderate rise in Bellbird Park, Bundamba and Goodna, according to the report.
In the Moreton Bay Regional Council area, residential land values rose since last valuation, with the Redcliffe as well as southern areas nearby Brisbane City experiencing slight to minor land value increase. Caboolture and areas nearby Pumicestone Passage saw very minor value increases, and small hinterland towns saw for the most part no change, aside from a minor rise in Dayboro.
For multi-unit land values in the region, Caboolture saw mostly no movement, while southern areas near Brisbane experiencing slight to minor rises.