Mirroring the transition happening across the river in Tenneriffe and Newstead, riverfront living in Bulimba is incredibly sought after. The Bulimba property market is booming with luxury apartment complexes developing right beside the river. This stunning, family-friendly suburb is definitely at the top of our “to watch” list over the next few years.
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KEY STATISTICS
Median apartment price
$600,000
Median rental value
$450 per week
Transport
Bus, CityCat ferry and cycle paths
Things we love…
Bulimba’s social hub along Oxford Street, offering plenty of dining options, entertainment and services.
The riverside location makes transport easy.
Proximity to the CBD, New Farm
and Hamilton.
But remember that…
Bulimba is a pocket. While this means traffic within the suburb is light, getting in and out can be difficult.
The development of the Bulimba Barracks will cause some disruption.
A lot of the new apartments under development are luxury properties and will have a higher than average price tag.
Location & Transport
Located south of the Brisbane River, Bulimba borders Hawthorne and Balmoral. Newstead, Hamilton and Tenneriffe are just across the river and easily accessible by CityCat. Bus stations are peppered throughout Bulimba, providing access to the nearby suburbs. Getting the CBD, however, is not as easy. It is only nine kilometres away but can take up to 45 minutes in traffic.
Bulimba’s riverside Vic Lucas Park is a popular recreational spot with locals and visitors. It features a basketball court, picnic shelter and barbecue facilities; this area is very popular on weekends.
The properties in Bulimba are a real mixed bag of old-style Queenslanders, modern family homes, apartment complexes and million-dollar waterfront properties. It has one of the best views of the CBD anywhere in the inner suburbs. The illustrious waterfront homes have lifted the average house price to $1.3 million, making Bulimba Brisbane’s sixth most expensive suburb.
Lifestyle
Bulimba households are comprised of mostly families, who make up approximately half of the demographic. These families are typically double income parents in their thirties or forties who are established professionals. A large proportion of the remainder are downsizers buying luxury apartments on the riverfront. Over 40% of the suburb are renters, with the waterfront properties primarily owner-occupiers. The high price tag of the waterfront penthouses has created quite an affluent suburban culture.
A significant increase in the population and easy access to surrounding areas are driving the cultural drawcards of Bulimba to an
all-time high. Oxford Street is the main hub of the suburb, with a plethora of eateries, bars, boutiques, gyms and health services.
Education
Just off the main strip at the end of Oxford Street is Bulimba State School. St Peter & Paul’s School is also close by (for parents looking for a local Catholic school). Being nestled right on the river means transport to the University of Queensland, Queensland University of Technology and TAFE colleges in South Bank are only a CityCat ride away.
Developments
The 2015 sale of the 20-hectare waterfront site that was the previous
Navy Headquarters know as the Bulimba Barracks will further transform the area. This master-planned development will consist of mixed residential, commercial and retail space, creating a whole new hub for Bulimba that will both complement and compete with Oxford Street. Being absolute waterfront, it will no doubt include many more premium apartments suited to owner-occupiers.
The traffic congestion in and out of Bulimba is expected to improve as a result of the proposed widening of Wynnum Road, with work anticipated to commence next year. The developments along Byron Street and across the entire river frontage will continue to increase the median house price in the suburb significantly over the next few years.
