The suburb of Woolloongabba is located only 2 kilometres to the south east of the Brisbane Central Business District – it is also approximately 2 square kilometres in size and the suburb has two parks.
The suburb is also home to the grand Princess Alexandra Hospital, the famous Stanley Street and Vulture Street thoroughfares and has both a train station and a Busway Station and as easy access to the Pacific Motorway.
The population of Woolloongabba in 2006 was 3,913 people and by 2011 the population was 4793 showing a very significant population growth of 22 percent in the area during that time, reflective of the construction of multiple new apartment blocks in the gentrifying suburb.
Unsurprisingly the predominant age group in Woolloongabba is the 25-35 years bracket. Households in the suburb largely comprise couples who are likely to be repaying between $1800 and $2400 per month on mortgage repayments.
In 2006, 40.4 percent of the homes in Woolloongabba were owner-occupied compared with 38.4 percent in 2011, reflecting strong investor interest in the area.
Currently the median sales price of houses in the area is $575,000 but the suburb largely comprises units and apartments with median prices currently in the range of $400,000.