Move over, Sunnybank: Rochedale is the new hot spot

Rochedale is fast becoming the “new Sunnybank” as families local to Brisbane’s most vibrant Asian community trade up their old homes for something brand new.

It’s the last suburb in Brisbane before you hit Logan but Rochedale, formerly a sparsely populated farming community, is now home to more million-dollar listings than Bulimba and Coorparoo.

These properties are not on the river or close to the CBD – Rochedale is about 17 kilometres southeast of the city – and most of them sit on an average block size of 450 square metres.

What Rochedale does have, however, is proximity to Sunnybank, home to Brisbane’s biggest Asian community – and according to local agents, it’s this community, as well as foreign Chinese buyers, who are currently driving Rochdale’s property prices.

Remax agent Cathy Cheng said it’s a perfect example of the “ripple effect”.

“Sunnybank and Eight Mile Plains have always been very popular with Asian people but a lot of the houses there are getting older. It’s also become more expensive,” she said.

“So they are looking a little further out and really like Rochedale because they can get a beautiful new home not far from the community and facilities that they know.”

Michael Lanskey, from Ray White Springwood, said Rochedale had evolved into an incredibly multi-cultural suburb over the past five to 10 years.

“A lot of Asians have bought here from neighbouring suburbs – they see it (Rochedale) as the brand new version of Sunnybank,” he said.

Mansfield State High School, one of Queensland’s top public secondary schools, is another reason Rochedale was drawing families in, Mr Lanskey said.

“Half the Rochedale estate falls within the catchment, so when you can tell people that, it’s a massive selling point,” he said.

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And while the average brand new family home could range from $800,000 to $1.4 million, there are still large parcels of farmland being sold off to developers from $2 million to $20 million, Mr Lanskey said.

“There is a lot happening here and it’s not slowing down,” he said.

Rochedale’s population, which numbered approximately 1200 people in 2009, is expected to reach 17,000 within the next 15 years.

Infrastructure, such as a new shopping centre, has been proposed, and the state government has plans to construct a Rochedale busway station.

Ray White Rochedale agent Lisa Etri said the suburb attracted not only local Asian buyers from Sunnybank but those from overseas as well.

40 Panorama Street comes with $30,000 worth of cedar timber detailing, bespoke kitchen and designer chandeliers. Photo: Supplied

“Rochedale is very big with the foreign Chinese buyers; it’s certainly got big appeal for them,” she said.

“What you can buy for $1 million in Sunnybank is very different to what you can buy for $1 million in Rochedale; here you can get something brand new and beautiful which appeals to our buyers… they want to stay in the general area but get something bigger and more modern,” she said.

“People are willing to spend a lot of money to live here which is huge for Rochedale … we’re certainly on the map.”

Ms Etri currently has a six-bedroom, five-bathroom custom-built luxury home for sale in the “Arise” estate off Gardener Road for $1,648,000.

It features $30,000 worth of cedar timber detailing, bespoke kitchen and designer chandeliers.

Peter Florentzos, said from LJ Hooker Sunnybank Hills, estimated 80 per cent of his Rochedale property sales were to the Asian community.

“If they want to get a beautiful brand new home they have to go a little further out than Sunnybank but really, it’s only next door,” he said.

“Rochedale is a great part of the world; with easy access to the freeway you’re close to the city as well as the Gold Coast,” he said.

“Westfield Garden City is minutes up the road and there’s a heap of very good schools. It’s a very family-friendly community.”