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Narangba

Brisbane Buyers Agent Insights – What’s happening in Narangba – New shopping centre to cater for projected population growth and provide greater amenity for families and first home buyers

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As a top Brisbane buyers agent, we’ve always got our finger on the pulse of the Brisbane property market. Check out what’s happening in Narangba.

A new shopping centre will open at Narangba, north of Brisbane, after the developer, Oxmar Properties, was given the green light.

Construction on the Narangba Heights Shopping Centre, at the corner of Sovereign Drive and Oakey Flat Road, is expected to start by the end of the year.

The 6,646sq m development will include a supermarket (circa 4000sq m), cafes and eateries, a service station (circa 200sq m), a fast food outlet (circa 270sq m) and office space, along with 300 car spaces. Coles and McDonald’s are rumoured to be considering moving in, but tenants have not yet been confirmed.

Narangba is a growth area in the Moreton Bay region, just north of Brisbane. This shopping centre will provide greater amenity to cater for the projected population growth in the catchment area, which is expected to be 26,070 people by 2031.

 

The planned development at Narangba Heights.

The site of the planned development at Narangba Heights.

Market Snapshot – Narangba

Median house price House average annual price  growth Houses sold over past 12 months Median Unit price Unit average annual price  growth Units sold over the past 12 months Demand level Population Median age of residents % of renters
$496,000 1.14% 355 N/A N/A N/A  Average 18,573 32 24.2%

Source: Realestate.com.au, CoreLogic, ABS 2016 Census

 

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