The Gap Property Market Shows Steady Growth, Consistent Demand

The Gap
Photo Credit: Google Maps

Buyers looking for more spacious houses in family-friendly surrounds in the wake of a Covid-induced rise in home-based activities are looking at suburbs like The Gap, where properties are on bigger blocks, surrounded by nature, yet still accessible to lifestyle amenities, transport, and good schools.

The Gap is doing consistently well in the property market, posting an 11.23 percent rise in median house price from July 2020 to June 2021. At $812,500, The Gap is still more affordable than suburbs like nearby Ashgrove where the median house price for the same period is currently $1.2 million, per data from Property Market Updates

Despite the lockdowns in the region, sales activity was busy with 293 houses sold during the 12-month period. Inventory turnover was brisk, with houses spending an average of 29 days on market, suggesting strong and consistent buyer demand. 

Photo Credit: Property Market Updates

A 6.48-hectare estate on Dillon Road delivered the best deal for this period, selling at $2,700,000 million. The six-bedroom house, surrounded by orchards of mangoes, avocado, and macadamia trees, was on a hilltop that offered a stunning view of The Gap. The property is next to an active creek that flows like a waterfall during rainy weather. 

Unit Price Growth

Whilst the housing sector has typically done better in Brisbane, the unit sector in The Gap also saw a presentable 5.39 percent rise during the same period, with the median price settling just shy of $700,000 at $699,500. 

Tower Ad

A total of 60 apartments were sold as of the end of June 2020, mostly to downsizers, young buyers, and owner-occupiers. 

Photo Credit: Property Market Update

About The Gap

The Gap might not be the cafe mecca or retail hub that some nearby suburbs are but buyers seem to be drawn to its family-oriented location, and its proximity to national parks and nature reserves, whilst still remaining accessible to the city. 

Situated in the middle of Mount Glorious, Mount Nebo, Mount Coot-tha, and Taylor’s Range, The Gap offers a fantastic outdoor lifestyle with lots of stunning green spaces for the family to explore.

Photo Credit: Google Maps

Generations tend to remain and expand their families in The Gap, given its abundance of options for school, such as The Gap State School or the St Peter Chanel Catholic School. Residents prefer its simple and laidback vibe. The Gap Village also offers a decent suburban shopping experience. 

Majority of residents in The Gap are owner-occupiers whilst the demographic is nearly equal between families with kids and fully-employed single people.  

“I’ve lived in The Gap since 1983 in two locations, it is a lovely green and leafy suburb situated against state forest land. This is the ideal place for people with a bit more disposable income who like the traditional quiet suburbia setting. If you like that sort of thing you’ll never leave.”

Ollygt, Homely

“So I moved to The Gap at the start of the year after looking at everywhere north to north west of the city. The gap offers extra space whilst also having a rural and village feel to it. It’s surrounded by walking trails and wildlife. I’m planning to have a family and could not think of anywhere better to raise my kids.”

HenryL14, Homely

“This is the second time I have lived here, in a rental. We are at the Mt Nebo end of The Gap with the leafy reserve across the road. Bush tracks galore, bike path, Mt Coot-tha, Yoorala St Community Garden, the dog off-leash park, heaps of dog walkers who pick up after their dogs and committed conservationists who volunteer their time to keep the bush surrounds shipshape.”