The Cheapest Suburbs To Buy In Brisbane
Given the fact that the whole nation has experienced skyrocketing property prices, what are regarded as some of the cheapest suburbs to buy in Brisbane?
On a national scale, it’s not surprising to learn that home values are currently up over 20% when compared to the same period just twelve short months ago. Considering the change in spending habits, shortage of building materials and just about everyone in the Land Down Under reevaluating the quality of their lifestyle, buyers in particular have flocked to property in droves.
While a surge in demand has affected all corners of the country, it’s Brisbane that came out on top. Although the long and lengthy lockdowns that plagued New South Wales and Victoria no doubt played a role, the Australian Bureau Of Statistics reported that Brisbane’s population had the highest interstate growth rate of all capital cities, and with property prices growing due to the added demand.
Thankfully, there’s still affordable options to be had providing that you know where to look. Regardless of whether you are an interstate migrant, a first home buyer or even someone looking to downsize, the cheapest suburbs to buy in Brisbane might just surprise you.
Buying A House In Brisbane For Under Half A Million
As of October 1 2021, Brisbane’s median house price came in at $709,000, while the median house price was $962, 000 in Melbourne and a whopping $1,311,000 in Sydney. At $430,000 Brisbane’s median apartment price is almost half of that in Sydney, which sits at $825,000.
There are multiple markets in the diverse sprawling city of Brisbane, divided by geographic location, price point and property type. While you’re unlikely to get a house within ten kilometres of the CBD for less than $500,000 to $1,000,000 anymore, the cheapest suburbs to buy in Brisbane are closer to the action than you might think.
Beenleigh – With a median house price of $432,000, buying a house in the south side suburb of Beenleigh is significantly much more affordable than Brisbane’s average. Perfectly positioned between Brisbane and the Gold Coast, its access to the Logan Motorway and Gateway Motorway has seen it soar in popularity amongst families migrating to Queensland.
Redbank Plains – Not quite Ipswich and not quite Brisbane, Redbank Plains sits in the heartland of the Eastern Corridor of South East Queensland. Given the significant upgrades currently being issued to transport and infrastructure, it’s unlikely that the median house price of just $400,000 is likely to stay that way for too much longer.
Caboolture – It’s not just the low vacancy rates that make the Caboolture area a great place – with a median house price of $468, 500, it’s also one of the cheapest suburbs to buy in Brisbane. In the region, there is an abundance of schools, including a range of primary and secondary schools and plenty of parklands for families.
Inala – Inala is well-placed to be a strong real estate performer. It is well-located, has good transport links and sits in an area with good services, including education, health and shopping facilities. With a median house price of $450, 000, it’s a great choice for investors looking to buy a rental property without the pressures of a large mortgage.
Browns Plains – Situated just twenty four kilometres from Brisbane’s CBD, the median house price in Browns Plains is $475, 750. With lots of affordable homes and a growing infrastructure and facilities. There’s lots of commercial opportunities and there have been many job creation projects in the area, which is leading the current boom with families moving to the south side.
For those who aren’t adverse to purchasing a unit, townhouse or apartment, it often means being closer to the big smoke of Brisbane City. Other suburbs that feature some of Brisbane’s cheapest unit prices include East Brisbane, Coorparoo, Clayfield, Nundah, Taringa and Kedron.
Bowen Hills, in Brisbane’s inner northeast, is the cheapest suburb in Brisbane to buy a unit. Here, prices have actually fallen by 13.7% over the past twelve months to a median price of $362, 500, providing a unique window of opportunity for buyers before the arrival of international students and tourists to our shores.
Whether you opt to buy or sell property in the near or distant future, there’s a great number of variables to consider when determining if it’s better to wait or strike while the iron’s hot. For buyers in particular, the services of a reputable mortgage broker can help you to understand the ins and outs of the world of home loans and ensure that you’re matched to a product that’s best suited to your own individual set of circumstances – but where do you find one?
Partnering With The Home Loan Professionals
Navigating the complex world of home loans has long been regarded as stressful, frustrating and time consuming – but the good news is that it doesn’t have to be.
Since their inception in 2012, the team at Madd Loans have worked tirelessly in providing over 2,000 Queenslanders with finance options to help turn their dreams into reality. With the entire brand being built on referrals, owner George Samios takes great pride in making the loan process both fun, educational and stress free – and he has a swag of awards to prove it.
If thinking about your financial future strikes a chord with you, then it might be time to speak to a professional. Whether you’re chasing mortgage solutions or a financial fairy godmother, the team at Madd work together as a collective to turn your goals into reality.