Could Newmarket be the best suburb in Brisbane’s northern suburbs? Read on to find out!
Date Prepared: 27th December 2024
Overview
Newmarket, located just 5 km north of Brisbane’s CBD, is a sought-after suburb known for its charming residential streets, proximity to major amenities, and vibrant lifestyle. With strong connectivity, a range of housing options, and ample recreational facilities, Newmarket offers a perfect blend of urban convenience and suburban tranquillity.
Suburb Snapshot
- Median House Price (2024): $1,450,000
- Annual Growth Rate (2024): -6.6%
- Distance to Brisbane CBD: 5 km (Approx. 10 minutes drive)
- Distance to Sunshine Coast CBD: 95 km (Approx. 1 hour 20 minutes drive)
- Distance to Westfield Chermside: 8 km (Approx. 15 minutes drive)
Newmarket’s accessibility and range of lifestyle amenities make it a desirable location for families, professionals, and investors.
Demographics
- Population: 5,300 (approx.)
- Median Age: 37 years
- Housing Types: A mix of detached homes, townhouses, and boutique apartments (ABS 2021).
Newmarket’s demographic is diverse, with families, young professionals, and retirees enjoying its lifestyle and proximity to key amenities.
Property Market Overview
House Market
- Median Sale Price (2024): $1,467,000
- Median Weekly Rent (2024): $780
- Rental Yield: 2.8%
Unit Market
- Median Sale Price (2024): $625,000
- Median Weekly Rent (2024): $550
- Rental Yield: 4.6%
Long-term Growth
Newmarket has experienced steady long-term growth, with the median house price increasing from $461,000 in 2006 to $1,467,000 in 2024. This equates to an annual growth rate of 6.70% over 18 years, showcasing its enduring appeal as a premium location.
- Significant Growth Spurts:
- 2021: +24.9% (Post-pandemic surge and local developments)
- 2023: +28.3% (Increased buyer demand and limited housing supply)
Vacancy Rates
- Vacancy Rate (Nov 2024): 1.7%
Notable Recent Sales
- 43 Yarradale Street – $3,970,000 (Sep 2024)
- 6 Robe Street – $3,425,000 (Sep 2024)
- 8 Nelson Place – $1,885,000 (Oct 2024)
Education Options
- Primary Schools: Newmarket State School, Kelvin Grove State College (Primary Campus)
- Secondary School: Kelvin Grove State College
- Private Schools: Hillbrook Anglican School, Brisbane Grammar School
- Child Care Centres: 6 (sourced from Toddle, CareforKids, and LocalSearch)
Lifestyle and Amenities
Shopping and Dining
Newmarket residents benefit from easy access to the Newmarket Village shopping precinct, featuring major retailers, specialty stores, and a diverse array of dining options.
Parks and Recreation
- Banks Street Reserve: A green retreat offering walking trails and picnic areas.
- Enoggera Creek Bikeway: Ideal for cycling and outdoor enthusiasts.
Health and Wellbeing
- Local Healthcare Services: Newmarket Medical Practice, Enoggera Road Family Practice
- Closest Hospitals: Royal Brisbane and Women’s Hospital (Herston), The Prince Charles Hospital (Chermside)
- Pharmacies: Multiple options located within Newmarket Village and surrounding areas.
- Community Health Initiatives: Wellness classes and community events held regularly in local parks.
Community and Employment
- Key Employment Sectors: Healthcare, education, retail, and professional services.
- Community Activities: Local markets, cultural events, and sporting clubs strengthen Newmarket’s vibrant community atmosphere.
Recent and Planned Developments
Recent Developments
- Newmarket Village Expansion (2023): The addition of new retailers and dining establishments has enhanced the area’s convenience and lifestyle appeal.
- Enoggera Road Intersection Upgrade (2023): Improved traffic flow and pedestrian safety for residents and visitors.
Planned Developments
- Green Link Project (Planned 2026): A pedestrian and cycling pathway connecting Newmarket to the CBD via Kelvin Grove.
- Northern Urban Innovation Precinct (Planned 2028): A project aimed at boosting local businesses and creating new employment opportunities.
For more development projects in Brisbane North, [Click here].
For more development projects in South East Queensland, [Click here].
Key Statistics Table
| Metric | Value |
|---|---|
| Population | 5,300 (approx.) |
| Median House Price (2024) | $1,467,000 |
| Median Unit Price (2024) | $625,000 |
| Median Weekly Rent (House) | $780 |
| Median Weekly Rent (Unit) | $550 |
| Rental Yield (House) | 2.8% |
| Rental Yield (Unit) | 4.6% |
| Vacancy Rate (Nov 2024) | 1.7% |
| Child Care Centres | 6 |
Brisbane Buyer’s Agent Introduction
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Conclusion: Why Choose Newmarket?
Newmarket combines urban convenience with suburban charm, making it a premium choice for families and professionals. Its excellent schools, green spaces, and vibrant shopping precincts contribute to its appeal, while long-term growth trends highlight its value as an investment.
Ready to make Newmarket your next destination? Contact us today to begin your journey!