Updated June 2024 by Andrew Mackintosh
Twenty years on, what’s the verdict? Is North Lakes still a ‘must buy” suburb or is it ageing disgracefully? Situated 26km north of Brisbane, North Lakes developed rapidly with approximately 24,000 residents so far taking out the dubious award of “most densely populated suburb in Brisbane”. The wider North Lakes area continues to grow, including neighbouring suburbs Murumba Downs, Mango Hill and Narangba. The new penny shine of properties in this area is tarnished now. It has however, fared somewhat better than other “ageing” bulk developments. Over the years I’ve inspected more than my fair share of those “fast build” developments, full of cut corners and poor quality materials. North Lakes for the most part remains a quality build and an in-demand area.
At a Glance
- Property prices are rising
- The area has high demand
- Most properties are structurally sound
- Most common issue is poor quality renovations
Changes in the Market
North Lakes offers everything a family would need, without having to leave the suburb. With the average age of residents being 33, families and young professionals dominate the area. I have updated this post to reflect the ridiculousness of the 2024 property market. The average house in North Lakes is now worth around $800,000. When I originally penned this post, they were $359,500. It’s been quite the decade for our property market.
North Lakes is very well-resourced and considered the outer North satellite city for Brisbane. Almost self-contained in nature, it’s possible to have your employment, health care, education, business, recreation and retail needs met all within the precinct. Because North Lakes boasts a major Westfield shopping centre, Costco, Ikea, big box shops, several schools, a health precinct, freeway access and public transport, the area has continued to grow in demand.
What I’m Looking For at a North Lakes Property Inspection
North Lakes is built on reclaimed land. The estates were pre-planned and built at remarkable speed. The homes are generally affordable for cashed up first home buyers but more commonly sell to ‘forever home” buyers. They’re nestled on small, tidy blocks. What does all this mean for pre-purchase inspections in North Lakes? North Lakes has a good reputation and buyers are generally happy with their purchase. In other areas where affordable housing has been perched on reclaimed land, there’s been big problems. Subsidence and other drainage-related issues can plague areas like North Lakes. And these are NOT cheap issues. These are the kinds of issues that can ruin you financially.
Signs of subsidence include cracking in the foundations or walls. For the moment this doesn’t appear to be an issue as it has been at other “reclaimed land” spots on the south side of Brisbane and among the Gold Coast canals.
In older areas of North Lakes, there’s also the risk of sub-standard renovations. It’s about that time. If you want to sell now, the original design is looking tatty. If buying a pre-owned home in North Lakes, sellers may do low-cost renovations on kitchen and bathroom areas to keep the modern appearance of other homes for sale. We’re specialists in spotting bad reno jobs! And if we do find a problem? We provide you with Brisbane’s most comprehensive and trusted pre-purchase report – so you can take it to the vendor and renegotiate your purchase price.
Download our Sample Inspection Report Here.
Style of Housing for Sale
Nearly all homes in North Lakes are of brick construction with tile or Colorbond roofing. There is a mix of double and single story homes and, due to the newness of the development, the streetscape of most areas is contemporary. But don’t let this give you a false sense of security; it’s still vital to have building and pest inspections carried out during the building and pest clause. Even new homes can be affected by pests or sub-standard building work, which will be detected by a professional building inspector with knowledge of the North Lakes area.
North Lakes building inspections are carried out with the same care and caution as other areas. Just because your North Lakes home hasn’t had a thousand and one renters in the past, doesn’t mean that you can avoid a professional pre-purchase inspection. Like all areas, building inspections North Lakes will cover essentials like a solid foundation (North Lakes has had some serious engineering to make the land suitable for building) and quality of workmanship. We recommend you also invest in a pest inspector for your new home as North Lakes backs onto bush land and pests love a shady spot!
Organising building and pest inspections in North Lakes
A pre-purchase building and pest inspection is vital when buying in North Lakes, even though the houses are relatively new. Talk to your professional building inspector about how a thorough interior and exterior examination will give you peace of mind about the home you’re buying.
Expert building and pest inspections are available for North Lakes and surrounds from Action Property Inspections.
We know it’s worth doing because we’ve done so many before.
Talk to us before your contract goes unconditional.
