Updated by our Building Inspector, Andrew Mackintosh, 2024. Over the last 30 plus years, I’ve done a lot of building inspections in St Lucia. It’s a suburb where properties have changed hands with regularity, mostly due to its proximity to the university. Traditionally, St Lucia is home to wealthy Brisbanites, and cheap(ish) student share housing. This means that your new property may have spent decades well-loved and cared for, or, as low-rent group housing for students, and with that comes the risk of tenant damage, and cheapskate landlords. During a pre-purchase building inspection in St Lucia, I look for any evidence of shonky renovations or long-term neglect as these can be two major risks for buyers. But, the biggest risk will be St Lucia’s biggest asset. It’s perched in the elbow of the Brisbane River – with beautiful views and parklands….and major flood risks. When inspecting a property in St Lucia, I’ll check for all the telltale signs of flood damage, and any red flags that may cause the property to have a higher risk of flooding. St Lucia is a polarising suburb – it can be a buyer’s dream or a renovator’s nightmare. But at over $2 million for the average property, you’ll need a thorough Brisbane building inspector to protect your investment.
Why you should buy property in St Lucia!
When you think of St Lucia, no doubt the University of Queensland instantly pops into your head, but there is so much more to this leafy suburb than that! With close proximity to Brisbane’s city centre, excellent amenities, and countless dining out options, St Lucia is a fantastic place for students, young professionals, and families alike to call home. Before you look at settling on the home of your dreams, you need to make sure you’ve got all the facts – and the best way is with a pre-purchase property inspection. St Lucia has been a desirable suburb for a long time, so the right property will be “very right”. Just make sure you get a thorough building inspection to make sure, it’s right.
St Lucia is a suburb 7 kilometres to the south of Brisbane’s CBD, with 12,574 people calling it home. Winding through St Lucia, the Brisbane River cuts the suburb at several points, making it a peninsula. This means that depending where you are, you might manage to snap up a home with a gorgeous view! The homes in St Lucia are built in the graceful Federation and Queenslander style, with new, modern units built for students. The streets are lined with beautiful jacaranda trees that blossom into a gorgeous canopy of lavender in the spring. The university occupies the eastern part of the suburb, which is obviously a big drawcard for students – and given that the university’s excellent amenities (pools, gyms, sporting facilities, libraries, cinemas, theatres, and galleries to name but a few!) are open to the public, it’s also a big draw to everyone else!
There are a few small shopping strips, excellent local bistros, tasty takeaways, and great coffee – what student could survive without it!? While you’ll find just about everything you need in St Lucia, the public transport is unbeatable in this part of Brisbane. You could easily catch a bus to the city or Indooroopilly Shopping Centre, take a ferry to West End, or walk across the Eleanor Schonell Bridge to Dutton Park. Trains service nearby Park Road and Dutton Park stations, so you’ll easily get where you need to go. St Lucia is unrivalled for convenience, lifestyle, and quality of life – you won’t want to live anywhere else!
St Lucia is also quite appealing to investors looking for rental properties due to the high student population.
Andrew’s Tip for St Lucia Buyers – Catchment Tax
Like other suburbs with top performing state schools, St Lucia buyers may face “catchment tax”. Shorncliffe, Indooroopilly, South Brisbane, Kelvin Grove, Nundah, Kedron…. where there’s a highly managed catchment area, there’s a big tax on houses within it. St Lucia is also home to one of the top-rated public primary schools, Ironside State School. Competition to entry to Ironside is fierce. Without an address in St Lucia, you cannot get your little one into the school. Even if you don’t have little people to consider, the catchment tax can drive up prices. Don’t get emotionally committed and then make a huge financial mistake.
St Lucia property market
St Lucia is an expensive place to live. Median property prices over the last year range from $2,050,000 (up 25% in 2024!) for houses and $650,000 for units. However, if you are looking for an investment property, St Lucia is ideal. You can rent a house out for $580 per week with an annual rental yield of 2.0% and a unit for $405 per week with an annual rental yield of 5.2% and properties don’t stay on the market. More often than not, they’re purchased on the first open home, or even prior to ever going to “official” market.
See Also: Toowong Property Inspections, Sherwood Property Inspections, Sinnamon Park Property Inspections, Auchenflower Property Inspections
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It’s vital to secure a pre-purchase property inspection in St Lucia
Federation and Queenslander style homes may be beautiful and charming, but they also come with all the problems you’d associate with an old house. Termites can be a big issue, as can structural damage, wood rot, and problems with old electrical wiring, or plumbing. To make sure your St Lucia move runs smoothly, you need to book a pre-purchase property inspection with the experts here at Action Property Inspections. We’ll make sure you know about any issues, so you and your family can make an informed decision.
Contact Action Property Inspections and secure an inspection for your St Lucia property today!
