Proximity to Brisbane CBD and lifestyle amenities are the main reasons why Taringa is the fastest-selling inner ring suburb in the housing market. 

Taringa homes for sale took an average of 35 days in the market, according to research done by Place Projects. The report was based on data gathered during the past year ending November 2016,

The median sale price in the inner ring suburb is $930,000, representing a 10-year growth of 4 per cent. Other suburbs that sold fast in the inner ring are Milton, Woolloongabba, Kelvin Grove, Norman Park, Toowong, Windsor, Fairfield, Greenslopes and Coorparoo.

Proximity is Key

Access to public transport is one reason why Taringa homes are fastest selling among inner suburbs.

According to the Place Projects report, price was not the only consideration of home buyers and investors.

Aside from the price, buyers are looking for personal preferences, including easy access to work, public transport and nearby lifestyle amenities such as retail precincts, dining, coffee shops, entertainment and nightlife.

Access to health care, parks and open spaces, schools and universities were also included in the consideration of people buying homes in the Brisbane suburbs.

The proximity of the inner ring suburbs to the business hub is the prime reason for the quick turnover of homes up for sale, whether the home buyer is buying their first home, downsizing or using the property as investment.

People investing in housing property are basically drawn to suburbs with strong rental demand, good supply of properties for rent and excellent capital growth prospects.

In the apartment market, Windsor and Newmarket were the fastest selling suburbs in the inner ring, selling units at an average of 49 days.

Middle-Ring Suburbs

The Place Projects report also enumerated the fastest selling middle ring suburbs in housing and apartment markets. Houses in the middle ring suburbs sold faster than Taringa and other inner suburbs, primarily due to lower prices of homes for sale in the area.

Chermside West topped the list of middle-ring suburbs that sold the fastest. Homes were sold within an average of 34 days in the market. Median sale price of Chermside West homes was $555,000.