Bowen Hills is located to the north of the Brisbane CBD, with only Fortitude Valley separating Bowen Hills from the city centre. Although the population of Bowen Hills was only 1,710 at the 2006 Census, its population is rapidly growing due to the number of new apartment developments in the area.
Bowen Hills' proximity to the Brisbane CBD and its excellent public transport availability has made it not only very desirable for new residential and commercial development, but has also caught the eye of the Urban Land Development Authority. The ULDA have named it as the site of a new inner-city Transport Oriented Development (TOD). This involves the construction of high quality medium to high density residential and commercial projects.
Bowen Hills is home to a number of significant Brisbane venues. It is home to the RNA Show Grounds, which holds the annual Brisbane Ekka and many other events during the year. This area has also been the subject of much attention with regards to urban renewal and development.
The suburb has many historic buildings, including the Old Qld Museum and the Twelfth Night Theatre. Bowen Hills is also home to the national headquarters of Virgin Blue airlines and the Courier Mail / Sunday Mail.
Bowen Hills' inner city location means it is a prime location for high quality apartment and unit developments. There are also a number of grand old homes scattered throughout the suburb, particularly up on the hill which enjoys outstanding city views.
The median house price for Bowen Hills as at November 2009 is $445k, with the median apartment price being $386k. These figures are relatively low given the suburb's inner city location, however Bowen Hills is only at the beginning of its urban renewal, and prices are tipped to increase substantially as the suburb redevelops itself.
If you're thinking about investing in Bowen Hills property, did you know you could use the money in your super fund? The rules now allow all Australian's to use an SMSF (self managed super fund) to purchase residential and commercial investment property.
For more information on investing in Bowen Hills, including the use of your SMSF to do so, please speak to a suitably qualified professional.
Suburbs surrounding Bowen Hills include Fortitude Valley and Spring Hill to the south, New Farm and Newstead to the east, Herston to the west and Windsor and Albion to the north.
Bowen Hills is spoilt for choice when it comes to transport. Bowen Hills railway station is one of only four Brisbane stations through which all Brisbane suburban lines run. This means you can catch a train from Bowen Hills to almost anywhere without having to change trains. It also ensures trains to and from the CBD run very frequently.
Road transport in Bowen Hills is also convenient, with the CBD only a few minute's drive, and easy access to the northbound and southbound motorways. The new Clem7 tunnel will have several interconnections at Bowen Hills to make road transport even easier and hopefully reduce surrounding traffic.