by Andrew Degn
It’s astounding the way Brisbane has evolved into one of Australia’s great cosmopolitan centres. World-class restaurants, innovative entertainment options, cool bars, the casino, event centres and go-all-night clubs have become hallmarks of our grown-up capital. I’ve watched with pride as we’ve moved beyond our ‘big country town’ status over the past few decades.
But excellent nightlife is also playing its part in boosting real estate prices across our near-city suburbs, particularly in my favourite area of the inner west.
Like great transport infrastructure, exceptional education options and desirable retail, a convenient nightlife is a top-box element for home buyers. So much so that we see ‘entertainment premiums’ being paid for housing located within proximity of exceptional options. You might say nightlife is a property FUN-damental (I’ll pause for applause here).
Whether you’re living in Petrie Terrace, Milton, Red Hill, Paddington, Auchenflower or Toowong, there are evening attractions to enjoy among various lifestyle hubs.
And buyers will pay extra to be close to these centres. Ask any local and they’ll describe the joy that comes from closing their front door and strolling to their local venue. While we shouldn’t take pleasure in others’ discomfort, there is a quiet self-satisfaction that comes from watching people trying to find a carpark while your walk to your night out.
I was chatting with one of my property valuer associates recently and they suggested the magic marker is to be within five-minute’s walk of a thriving hub. It’s within that ring you can expect the biggest value bump. The thing is we’re so spoiled with inner-west nightlife options, it’s probably harder not find a home within five minutes stroll of great entertainment.
For example, Paddington’s famed Latrobe and Given Terrace café strip is a central spine of activity for thousands of residents who live in nearby streets. A few drinks at the Hope and Anchor before strolling down to NOTA is becoming a weekend ritual for many. They then kick on to Caxton Street for the young (and young at heart). There’s even The Barracks which offers not just lively entertainment, but also Palace Cinema for those who’d prefer their beverages and snacks while seated in a comfy chair watching a big-screen movie.
There’s also Rosalie Village with its ever-evolving range of restaurants and bars. Wine Experience’s by-the-glass bartop dining option has been a welcome addition, while 5 Boroughs delivers evenings that can include trivia nights and live music.
Step over the tracks to Milton and who hasn’t enjoyed the fun that is Park Road. The Tuk Tuk Bar and Mongrel are heaving with folk every Friday evening. It’s a central enjoyment zone, along with the gentrified industrial sheds around Station Road. A veritable hipster utopia of good times to embrace.
Then there’s Auchenflower’s Birdwood Terrace strip where the dining institution of My Thai has become a magnet for outstanding food and enjoyment. If you’re a resident near Lang Parade, then it isn’t far to Toowong Village and the Regatta Hotel as well.
Even in the traditionally more sedate sections of Paddington around Garfield Drive you can find delightful eateries along MacGregor Terrace within a short wander, such as La Belle Vie.
But it’s not all about over-18s kicking up their heels. We’re also enjoying more and more community events that cater for a wide range of age groups too.
The Night Markets at Milton which occur sporadically throughout the year see many of the traditional daytime stallholders make way for increased food and beverage outlets. Live bands and free flow entertainment ensure there’s something here for everyone.
In recent years the Paddington Christmas Fair has lit up the streets too. The suburb comes alive with families wandering along the street. Handicraft stallholder’s mix with established retail and dining outlets to welcome the season in family-fun way.
We’re also hearing buzz among our networks about some other potential community festivals and activities. Only this week, we attended the inaugural Paddington Urban Art Exhibition run by Paddington Then and Now, featuring wonderful artworks by Urban Sketchers Brisbane, done all around this area.
Our inner west delivers wonderful nightlife, and buyers from around the nation are taking notice. It’s a big reason why new residents are flocking to these golden suburbs.
Local knowledge of nightlife attractions, both current and future, is essential for property professionals. We can quickly identify the benefit these zones deliver to house values throughout the community, and let buyers know what they are purchasing in terms of lifestyle. An excellent way to maximise your sale’s outcome.