Petrie TerraceSuburb Profile

Petrie Terrace

A little inner-city precinct identified by the popular “Barracks” which features heritage listed buildings of the former Petrie Terrace Police Depot refurbished into a retail destination.

In the west the boundary runs along Hale Street, the east is bordered by Countess Street while the northern perimeter is marked by Musgrave Road, and the southern by Milton Road.

Market Data

Median House Price New Farm
Median House Price
$775,000
Median Mortgage Repayments
$2,580 / month
Home Ownership
38.9%
Type of Dwelling: House / Townhouse
81.4%
Median Unit Price
Not Available
Median Unit Rent
$450 / week
Rented Properties
56.3%
Type of Dwelling: Apartment / Unit
17.8%

House and Unit price based on sales from 1 Aug 2017 – 27 Aug 2018. Data supplied by RP Data Pty Ltd trading as CoreLogic. All other data supplied by ABS 2016 Census.

Demographics

Total Population
1,124
Average people per household
Average People / Household
2.3
Median Age
Median Age
30
Distance to CBD
2.5km
Median Personal Income
$822 / week
Sole Person Household
28.2%
Median Family Income
$2,302 / week
Family Households
49%
Data supplied by ABS 2016 Census.

Snapshot of Petrie Terrace

Coming into its own in 2010, after a disconnect from its former home within the Brisbane city precinct and the completion of The Barracks retail hub, Petrie Terrace is now a hotspot for socialites to mingle and party. The southern end of the suburb hosts Caxton Street, to which PT owes much of its party persona, thanks to an eclectic mix of boisterous sports bars, intimate speakeasies and boutique wine lounges. Gourmands have much to drool over with restaurants serving up a variety of fare from casual Asian cuisine to sports fans’ steakhouses. Way-cool cafés dot the throughfare from which Petrie Terrace was named, and are inundated from outer-suburb visitors on the weekends.

The local Things to See and Do list also receives a number of ticks, with a cinema, boutique shopping, Victoria Barracks Museum and Brisbane Arts Theatre staging classic and kid-friendly performances. Perched at the north-eastern end of the CBD, the downhill saunter from PT to the city results in all kinds of cosmopolitan rewards. A stone’s throw from the landmark Suncorp Stadium, and a skip up the street to the boutiques of neighbouring Paddington, Petrie residents are placed in prime position to lap up the luxury inner-city life affords.

PT residential spreads from Caxton Street up to the northern boundary and some sub-divisional examples of the pre-1885 period remain, with narrow lanes and house frontages. Other colonial housing is evident, while refurbishment has been a trend for the new movers-and-shakers calling Petrie home. Nearby is Roma St Station, and locals are easily connected to all the major forms of public transport. Deciding on whim to stay local or venture further afield on the weekends has become a norm for spoilt residents, whose enviable lifestyle is much-coveted across the city.

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