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Brisbane Buyers Agent First Home Buyer Insights – What’s happening in Morayfield – Refurbishment of retail centre to improve amenity

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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 Morayfield.

Morayfield Village is set for a revitalisation, with the retail centre, situated next to the Morayfield Shopping Centre at 171 Morayfield Road in Morayfield, north of Brisbane, to be renovated early next year.

The retail centre was supposed to become a giant Kaufland hypermarket, but after the German outlet left the market it will now be given a facelift and redeveloped into a food and retail destination.

Existing tenants including Jenny Craig, Rivers, Mr Toys Toyworld, the Bank of Queensland, Imaging Queensland and smaller tenancies including a barber and hairdresser will remain, while new tenants will also come in, including cafes, a fast food retailer, restaurant and bar.

The refurbishment is expected to start in February next year and be completed in around six weeks.

Market Snapshot – Morayfield

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
$360,000 0.21% 373 $225,000 1.31% 35  Average 21,394 32 42.4%

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

 

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