Brisbane’s cheapest suburbs closest to the CBD have been revealed — and if you’re in the market for a house, you can still pick one up for under $500,000, less than 10 kilometres from the CBD.
According to new data from Domain, there are still a number of sleeper suburbs close to the city centre that have median sale prices considerably less than their surrounding areas.
Houses in Keperra, Chermside and Everton Park, as well as units in Spring Hill, Clayfield and Bowen Hills, are some of the most affordable properties within a 10-kilometre radius. Moving further out to between 10 and 20 kilometres, units in Zillmere and Runcorn offer great value, as well as houses in Acacia Ridge, Thorneside and Durack.
Domain research analyst Eliza Owen said while the general rule was the further a suburb was placed from the CBD the more affordable it was, there were exceptions.
“The average median for a Brisbane house within 10 kilometres of the CBD is $845,000, so take Stafford Heights, where a typical price is $600,000 — while that is still a lot of money, it’s relatively affordable when you’re looking at properties that close to the CBD,” Ms Owen said.
The data showed units within walking distance of the city centre for under $400,000, while the median for units up to 10 kilometres out is $460,000, Ms Owen said.
She said there were often reasons why these suburbs were more affordable.
“There are other factors that create pockets of relatively low prices. Being placed near industrial parks, having relatively low socio economics in there, being close to an airport or under a flight path and the nature of the housing stock can all affect a suburb’s value,” she said.
Suburbs less than 10 kilometres from the CBD
In Brisbane’s leafy north west, buyers after an affordable home can pick up a house at Keperra, where the median sale price is $530,000, although Christine McKay of Harcourts Solutions says many sell for less than that.
“Houses are selling from around $480,000 — often they’re pretty little post-wars, and they’re very popular with the young people,” she said.
“Keperra has a lot to offer apart from its proximity to the city and that’s the transport, schools, shops … all the infrastructure is here.
“Why do people live here for 70 years? Because everything is here. It’s a lovely suburb and we’re finding people are buying these little post-wars and turning them into beautiful homes, lifting them, extending them and building in underneath.”
Other affordable suburbs included Chermside and Chermside West, in Brisbane’s north, and Everton Park, also in the north west.
For units, Moorooka, Bowen Hills and Clayfield were the cheapest, followed by Spring Hill, which is only one kilometre from the CBD.
Most affordable suburbs <10km
Suburbs 10 to 20 kilometres from the CBD
A little further out from the city centre and prices come down further, particularly for houses. Inala, 14 kilometres west of Brisbane, has the cheapest median house price at $365,000.
The bayside suburb of Thorneside, which straddles the Brisbane coastline a little further along from Manly and Lota, has a median house price of just $432,000.
But it’s suburbs like Acacia Ridge, only 12 kilometres south of the CBD with a median houses price of $400,000, which agent Adrian Daynes of Daynes Property refers to as a “sleeping giant”.
“If you compare it to surrounding suburbs like Coopers Plains, Algester, Sunnybank or Salisbury, Acacia Ridge is right next to these suburbs but the prices are so much lower,” he said.
“It’s a little bit unknown in that respect. Buyers come out to investigate the suburb and are pleasantly surprised because the quality of the home you can get here is 40 to 50 per cent cheaper than the neighbouring suburbs.”
Mr Daynes recently listed a three-bedroom, two-bathroom post-war house on 607 square metres of land at 15 Scouse Street, Acacia Ridge for $419,000 but said the same house would be worth $560,000 to $570,000 in Coopers Plains.
“A lot of our buyers here are first-home owners but we also get a lot of investors too as the rental yields are so high. They’ll buy a house for $350,000 and get $350 a week rent,” he said.
Most affordable suburbs 10-20km
Suburbs 20 to 30 kilometres from the CBD
Unsurprisingly, house prices drop considerably by this distance, dominated by the LGAs of Logan and Ipswich.
Goodna, on Ipswich’s fringe, has excellent transport links via trains and the Ipswich Motorway to Brisbane’s CBD. With a median house price of $337,000, it is only 20 kilometres from the CBD.
Also in Ipswich, Collingwood Park and Redbank Plains, both with median house prices of $340,000, are located 23 and 26 kilometres respectively from Brisbane’s CBD.
Some of Greater Brisbane’s most affordable units, however, are located in Moreton Bay, north of Brisbane along the coastline.
Units at Woody Point, 25 kilometres out, have a median of $382,500, while neighbouring Redcliffe, 28 kilometres out, has a median of $384,500.
Most affordable suburbs 20-30km
Smart buys: Brisbane’s best properties under $800,000 for sale right now
Here’s our pick of the best buys in Brisbane and some of its surrounds at the moment — and they’re all under $800,000.
34 Ivy Street, Toowong
With tongue-and-groove floorboards, a cast-iron fireplace begging for love, a sunroom, and a prime position on 405 square metres, this three-bedroom original workers’ cottage is bound to catch eyes of inner-west renovators. No price has been set yet but agent Alex Jordan says as a vacant block on land it would achieve over $600,000.
McGrath, Alex Jordan 0410 424 749
81 Payne Road, The Gap
The rear of this multi-tone brick house surprises. There’s a single-garage-cum-workshop or home office between the double carport and an elevated timber sundeck, and there’s also a pool. It is fully fenced on a 625-square-metre block, and has three bedrooms with a further small room inside that could become a fourth bedroom or study.
Harcourts, Stephen Dangerfield 0412 145 802
48 Bringelly Street, Arana Hills
From its white picket fence to its flat sandpit-friendly backyard, the DNA of this three-bedroom, one-bathroom house is pure family. Set on a flat 607-square-metre block about 20 metres from the local bus stop, Grovely State School is 900 metres away and Arana Hills Plaza, restaurants and cafes are at the end of the street.
Coronis, Jo Dryden 07 3351 5151
19 Allamanda Crescent, Albany Creek
This substantial four-bedroom, double-storey house sits on a 1250-square-metre landscaped block. It has ample room for its pool and double garage, and there is a massive covered entertaining area and both casual and formal living and eating rooms. Two state high schools are located within 2.4 kilometres of the front door.
Style Real Estate, Claire Little 0422 755 171
40 O’Quinn Street, Nudgee Beach
This 54-year-old updated beauty on a double block opposite the beach offers three bedrooms, three bathrooms and 1000 square metres of land. Open-plan living and dining space, plenty of natural light, timber floors, and a second living area with clever built-in bench seating and storage are boons. The rear has a storage shed, two garden sheds and a single garage.
Calio & Scott Real Estate, Carl Calio 0416 145 288
6 Chase Crescent, North Lakes
Worth a look if a first-time home buyer, or investor watching budget-friendly growth areas, this super neat, modern three-bedroom, two-bathroom house also has a double garage. It is set on a low-maintenance and landscaped 486-square-metre block. It also has decent-sized, open-plan living and media rooms.
Hudson Property, Viv Robinson 0407 918 184
50 Windsor Place, Deception Bay
This two-bedroom, one-bathroom cottage on a 397-square-metre corner block has serious update or rebuild potential. Set three blocks west of Moreton Bay and one block to the suburban public primary school, it is liveable as a home or easily rentable with a modern kitchen and fenced backyard. It has a separate sunroom and a single carport.
Ray White, Lydia Robins 0438 166 763
441 Beenleigh Road, Sunnybank
This renovated, four-bedroom, one-bathroom house has parking space for two cars on a 708-square-metre block. The floor plan is open between living, dining and kitchen areas and the metro rail station is about 400 metres away. Its reserve price is unknown as required by Queensland auction laws, but it was found in a search for homes under $800,000.
Auction, June 29, 12.30pm
RE/MAX, Gary Dellios 0411 879 935
4 Parliament Street, Bethania
The federal election is done for 2019, but here is another way to get into Parliament. With three bedrooms and one bathroom, this brick-and-tile house also has a double carport and a double garage. On a flat 758-square-metre block, the back section is contained making for a fine play zone. Neutral timber-look flooring in the kitchen-meals area balances the retro swirl carpet in the living-dining.
LJ Hooker, Trina Wilson 0427 188 500
Cbus Property Plans $600m North Quay Tower
Cbus Property will partner with local Brisbane developer Nielson Properties to deliver a $600 million riverfront commercial building in the city’s CBD.
The 3,000sq m corner site, an amalgamation of 205 North Quay and neighbouring 30 Herschel Street, will now house the city’s latest A-grade commercial building.
The office development, to be known as 205 North Quay, will deliver 50,000sq m of net lettable area.
Cbus Property chief executive Adrian Pozzo said the site was ideal as it takes advantage of Brisbane’s strong economic outlook, employment growth and the state government’s infrastructure investment.
“205 North Quay is a major riverfront CBD site, ideally located to capitalise on the major infrastructure projects nearby such as the recently announced Roma Street Station, Brisbane Metro, Cross River Rail and Brisbane Live,” Pozzo said.
“Queensland’s economic growth also anticipated to continue to outperform the Australian average.”
“We will look to build on these strong economic foundations and our past success with 1 William Street, to deliver a premium and future-focused commercial tower for Brisbane’s CBD in collaboration with our partner, Nielson Properties.”
No stranger to Brisbane CBD’s commercial market, the project follows Cbus Property’s 46-storey “tower of power” at 1 William Street, home to the Queensland government.
The 205 North Quay development will add to the continued regeneration of the burgeoning North Quarter precinct, which will also include Mirvac’s 80 Ann Street tower to be tenanted by Suncorp, Shayher Group’s 300 George Street project and the recently completed W Hotel on George Street.
The development will also be located in Brisbane’s prime commercial district, capitalising on the major infrastructure projects nearby such as the recently announced Roma Street Station, Brisbane Metro, Cross River Rail and Brisbane Live.
“As a local Brisbane developer, we’re excited to be a part of the evolution of the North Quarter as it becomes a vibrant hub bolstered by outstanding connectivity to Brisbane’s CBD and premium infrastructure and amenity,” Nielson Properties director Ross Nielson said.
Cbus and Nielson have commenced preliminary discussions with the Brisbane City Council.
Last week, Brisbane-based Sentinel Property Group snatched up Makerston House, a neighbouring commercial property in Brisbane’s North Quarter precinct from investment management company Challenger for $103 million.
Further along the CBD riverfront, work has also commenced at the $3.6 billion Queens Wharf developed by the Destination Brisbane Consortium, a joint venture led by casino giant Star Entertainment Group, Far East Consortium and Chow Tai Fook Enterprises.
Work is also under way on Brisbane’s newest riverside public space, with the area between the Goodwill Bridge and 1 William Street to be developed into an above-water pedestrian walkway and recreational area called Waterline Park.
‘Why not Hendra?’ The luxury house that is poised to set a new benchmark for this Brisbane suburb
A prestigious new property in Hendra is tipped to break records when it goes under the hammer in a couple of weeks, setting a new benchmark for luxury in the area.
The five-bedroom, four-bathroom house may be located on General Street, but its myriad of bells and whistles means it’s anything but.
With a plethora of top-line features, including travertine tiles, state-of-the-art fixtures and a mosaic-tiled swimming pool, it includes a climate-controlled wine cellar as well as bespoke cabinetry throughout.
Marketing agent Patrick McKinnon of Place Ascot said the house was part of an emerging trend in the suburb towards luxury new builds. The developers behind the home, Innovare Builders, were quickly transforming the standard of Hendra homes project by project, he said.
“They’ve really lifted the benchmark for what’s expected in Hendra and set the tone for the quality that people look for here,” he said.
“This house should a set a record for the area for 405-square-metre non-racecourse property. The records are around the $1 millions and I think this is better than anything else comparable on the market right now.”
While perhaps not as well-known as its prestigious neighbouring suburbs of Ascot and Hamilton, Hendra’s gentrification is well underway, partly due to the redevelopment of Eagle Farm Racecourse.
The 379-square-metre statement home is within an easy canter of the racecourse as well as many cafe precincts.
Orazio D’Arro of Innovare Builders said Hendra’s multitude of attributes made the decision to develop there simple.
“In a nutshell, why not Hendra?” he said.
“We first chose Hendra because it is a gentrified living suburb with wide, tree-lined streets full of traditional and modern character houses and dotted by cafes, boutiques, other community businesses and gorgeous local parklands.”
Mr D’Arro said the design inspiration was Hamptons exterior meets modern European interior.
“Modern life requires thoughtful use of space and automation as well as comfort and this was at the forefront of each and every design and inclusion decision,” he said.
Located within easy commute of the Brisbane Airport as well motorways north and south, the home can be controlled from anywhere in the world via state-of-the-art automation and electrical integration.
“Part of a busy modern family’s lifestyle demands convenience – even while travelling – and the electronic aids offered up here deliver convenience in spades,” Mr D’Arro said.
Other features of the home include a rear patio designed for al fresco dining and summer barbecues, with a built-in, custom outdoor kitchen that features a barbecue and beverage centre.
The home also boasts an in-ground swimming pool lined with mosaic tiling and a manicured, drought-resistant lawn with landscaped gardens.
The property is located at 6 General Street, Hendra, and will go to auction on Saturday, June 22.
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