11 Water Street, Red Hill QLD 4059
11 Water Street, Red Hill QLD 4059
3-bed 1-bath character cottage | 304m² inner-city lot | polished timber floors | high ceilings | renovation upside
This house is positioned as one of the more attainable character offerings in Red Hill’s current market. Its compact 304m² allotment and single-bathroom layout are placed below the suburb’s premium renovated stock, but preserved period features, including polished timber floors and high ceilings, are seen as authentic character appeal that is actively sought in this precinct. The property is best suited to first-time buyers or owner-occupiers who value location over size and are prepared to undertake cosmetic updates or renovation over time. Its quiet street position, close to the CBD, bus routes, and established school catchments, is regarded as a practical entry into a tightly held suburb.
The single-bathroom layout may be seen as limiting family appeal. A lack of second living space might be considered a constraint on price relative to renovated stock. However, the character features and 304m² allotment may support a well-executed extension, potentially closing that gap. Value may be driven primarily by land and location rather than current improvements.
Detailed Independent Property Report prepared by PropCred Analyst team for 11 Water Street, Red Hill QLD 4059
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
1
Income Risk
Execution Risk
1
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Market Insight
Red Hill, an inner-Brisbane suburb, remains predominantly owner-occupied (65.3%) with rental demand high (34.7%). Buyer activity is driven by families and professionals, supported by tight supply and interstate migration into Brisbane. House prices show conflicting signals: median values range from $1.75M (-0.3% annually) to $2.25M (8.18%), with one source reporting $1.8M at 6.5% and another $1.805M at 16.45%—indicating measurement volatility. Units are firmer, at $900,000 with 12.5–15.4% growth. Stock is selling quickly, averaging 22–29 days on market, though annual sales volume is low (69–92). Rental yields remain thin: houses 2.6–2.77%, units 3.4–3.63%. Below-1% vacancy and rising rents ($825/week houses, $550/week units) underpin investor interest. Future growth depends on sustained migration and constrained new supply; risks include affordability (high entry prices), a construction slowdown, and rising listings that could soften pricing.
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PropCred Estimated Value
Comparable Sales: 68 Arthur Terrace, Red Hill, renovated 3/2 on 405m², approx. $1.35M; 85 Enoggera Terrace, Red Hill, character 4/2 on 402m², approx. $1.4M | Property Price Band: $1.0M–$1.1M | Value Drivers: land size, character, renovation potential
Bedrooms
2
Bathroom
1
Parking
2
Land
297m²
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