is much more than bricks and mortar, land size and sales figures. A suburb’s fortunes reflect the changing nature of its residents’ tastes, means and aspirations.COVID-19 lockdowns prompted the surge in demand for regional propertiesMore often they take decades – the gentrification of an inner-city working-class neighbourhood or a one-time fringe area, transformed into a desirable middle-ring suburb due to urban sprawl.
The suburbs of Brunswick proper, East and West were industrial, working class and unappealing to most. But artists and youth saw lively, “grungy” and affordable neighbourhoods which they helped transform with new bars, galleries and nightlife. While that’s great for investors in the area, it’s not the case for the young and less affluent, many of whom have moved further out to more affordable suburbs, such as Thornbury and latterly Preston, which themselves are increasingly sought after.Sydney property adviser Veronica Morgan points to a similar example, where the once gritty working-class suburb of Marrickville benefited from the unattainability of its neighbouring suburbs.
Some other early signs that a shift may be underway include a revitalisation of the local shopping village, improved infrastructure and amenities and, as Brisbane property adviser Meighan Wells points out, an upswing in home renovations. Wells says the suburb’s upward trajectory was interrupted for several years by the construction of the city’s Airport Link tunnel.