New homes off and racing in Hendra‏

Buyers are jockeying for prime real estate in Hendra, as old horse stables are replaced with million dollar homes - with boutique builder, Bold Group of Companies, constructing nine new homes within a five street radius in the suburb.

Bold Group director Brett Boulton said he was also finalising contracts to start work on a further six homes as demand for Hendra surged.

Mr Boulton said the suburb had become a hot spot for buyers subdividing and knocking down old properties to build prestige homes that benefited from a position just eight kilometres from the CBD.

He said new development in the pipeline, including the redevelopment of the Eagle Farm and Doomben racing precincts, was also luring buyers.

"Homes are often selling before they even go to the market and it can be so hard to get in that you almost have to know the real estate agent to secure a property."

Figures sourced from RPData show the median price of homes in Hendra was more than $830,000 and the suburb had experienced growth of 11% over the past 12 months, compared to the Queensland average of 3.74%.

Bold Group of Companies was established in 2010 and is set to build 200 homes across Brisbane, the Sunshine Coast and Ipswich this year alone.