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Westlake

POSTAL CODE: QLD, 4074
HOUSE

Property investments in WESTLAKE did not fare well against the rest of the country last year, registering a median home price decrease of 1.67%.

Figures from the previous quarter show that capital gains for real estate buyers in the territory are low, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains WESTLAKE, 4074 saw average growth in the long term.

Real estate investors could earn a rental income of $795 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 62.9 days.

Besides that, the Australian suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $1,370,000.

WESTLAKE ranks 614th on the list of best yielding suburbs for rental properties in QLD, posting a 3.02% return.

Surburb overview

Westlake, QLD 4074, is a peaceful and family-friendly suburb located approximately 14 kilometres southwest of Brisbane’s central business district. As of the 2016 Census, it had a population of around 4,353 people, with the predominant age group being 50-59. Westlake is known for its well-maintained homes and green spaces, making it an attractive location for families, professionals, and retirees.

The housing market in Westlake predominantly consists of large detached homes, with a median house price of around $1,300,000. The median weekly rent for houses is approximately $900, while rental yields are 3.34% for houses and 4.58% for units, indicating good potential for investors. The suburb has a strong sense of community and is primarily occupied by couples with children, with a high rate of owner-occupied properties.

Westlake is well-connected to nearby shopping centres like the Mount Ommaney Shopping Centre and Jindalee DFO, providing residents access to various retail and dining options. The area's multiple parks and recreational facilities make it ideal for outdoor activities. Public transportation includes bus services that link the suburb to Brisbane’s CBD and neighbouring areas.

Overall, Westlake offers a quiet and safe environment with various amenities, making it desirable for families seeking a suburban lifestyle close to the city.

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