Thorneside’s median price has sky-rocketed with a significant increase of more than 100 per cent in the past decade, according to realestate.com.au data.
The data reveals the extent of price growth in the Redlands between 2013 and 2023, with Sheldon and Thorneside landing the biggest gains across the decade.
Sheldon’s price increased 131.3 per cent and holds a current median price of $1.55m, followed by Thorneside with a current median price of $910,000.
Real estate principal Ben Tafolo pinpoints Thorneside’s location as the backbone for the significant increase over the past ten years.
Thorneside is a small suburb geographically, adjoins to the water and is the closest Redlands suburb to the CBD radially
He said Thorneside was an ideal location for families and described the area as a “real lifestyle location” with a great community.
“The area is perfect for fishing, boating, being by the water and raising children,” Mr Tafolo said.
“Thorneside has a secluded feel compared to the business of Cleveland or Capalaba.”
All mainland suburbs recorded growth of more than 65 per cent for the decade, with Cleveland registering a 65.8 per cent increase and Capalaba 74.4 per cent.
Mr Tafolo said Thorneside currently offered a range of properties, including units, apartments and townhouses, through to homes overlooking the bay.
Looking to the future, Mr Tafolo predicted there would be “gentle growth” in Thorneside over the next two to three years.
“After a period of settling from the markets’ reaction to the interest rate rises and the general calling of the market, I think there will be some growth from six to twelve months from now,” he said.
