So, you’ve started the home loan application process, or you’ve at least started your research. But where’s the best suburb to buy in in Brisbane? There are so many different things to consider when choosing a new suburb.
How family-friendly is the area? Are there good schools? Good parks?
And how close is the city? What does your daily commute look like? Will you suit the lifestyle of the suburb?
The most important questions, though, surround the cost of the property. Will you be able to afford it? And will its worth increase over time?
ANZ’s economists are predicting a 9.5 per cent growth in house prices across Brisbane through 2021. So, with all of that in mind, where’s the best spot to buy?
Which Brisbane suburbs have the highest property prices?
Unsurprisingly, the beautiful, leafy suburb of Teneriffe is Brisbane’s most expensive spot to buy in. The median house price in Teneriffe? $1.86 million.
Hamilton is in the second spot with a median house price of $1.5 million. It’s grown by 9 per cent each year for the last five years.
Its neighbouring suburb of New Farm closely follows Teneriffe in the third spot. It boasts a median house price of $1.43 million.
These river-side suburbs enjoy those higher price tags due to their demand. New Farm, Teneriffe, and Hamilton offer the absolute best proximity to the city while providing plenty of greenery, space, and easy access to amenities. They’re highly liveable suburbs.
The fourth most expensive suburb is a decent jump away from the previous suburbs. The south-easterly suburb of Chandler comes next.
Its median house price goes at $1.4 million. Chandler offers highly-rated schools, an abundance of space, and the best in suburb living.
The top 10 most expensive Brisbane suburbs
Here are the top 10 most expensive Brisbane suburbs, courtesy of Metropole.
- Teneriffe – $1.86m
- Hamilton – $1.5m
- New Farm – $1.43m
- Chandler – $1.4m
- Bulimba – $1.35m
- Ascot – $1.28m
- Fig Tree Pocket – $1.2m
- Pullenvale – $1.16m
- Hawthorne – $1.1m
- St. Lucia – $1.07m
Which Brisbane suburb has the lowest property prices?
Particularly if you’re a first home buyer, you may be looking to find the Brisbane suburb with the lowest property prices so that you can break into the market. Of course, though, proximity to the city – and factoring your commute in – is essential.
Domain has shared data showing the six cheapest suburbs to buy property within 10km of Brisbane City.
The eastern suburb of Tingalpa is the most affordable within that 10km radius. Its median house price is $535,000.
North-west suburb Keperra has a median price of $560,000, and northern suburb Everton Hills, $590,000.
The six most affordable Brisbane suburbs
Here are the top 6 most affordable Brisbane suburbs.
- Tingalpa
- Keperra
- Everton Hills
- Salisbury
- Carina
- Everton Park
Consider where the best schools are
Realestate.com.au found that people are paying a higher price to live in a good school catchment. They found the demand in these areas has increased by 30% in just 12 months.
So, which are the most sought-after schools?
Mansfield State High School
Mansfield house prices have increased by 22 per cent in three years.
Indooroopilly State High School
Indooroopilly house prices have had 10.92 per cent growth in three years.
Brisbane State High School
This school caters to South Brisbane, Highgate Hill, West End, Dutton Park, and Woolloongabba. Each suburb mentioned is slated for decent growth.
Cavendish Road State High School
Cavendish Road State High School caters to Holland Park and Coorparoo. Holland Park has seen 6.88 per cent growth over three years. Coorparoo has enjoyed 8.91 per cent growth over the three years.
Mount Gravatt State High School
Catering to Mount Gravatt and Mount Gravatt East, these areas have seen 5.785 per cent growth, with a total of 8.84 per cent in the last 12 months.
Cool, so which suburbs are set to grow? Where's best to invest?
You don’t need to be a property investor to be concerned with the capital growth on the property you buy. The house you buy is still an investment, even if you intend to live in it.
If you are looking for an investment property, though, all of the above should still factor into your decision. Another critical consideration, though, is the return you’ll make on your investment.
Open Agent recommends the following suburbs for their rental yields and price trends.
| Suburb | Vacancy Rate (2019) | Vacancy Rate (2020) | Rent Cost for Houses (2019) | Rent Cost for Houses (2020) | Rental Yield | 7-Year Price Trend p.a. |
|---|---|---|---|---|---|---|
| Brighton | 1.3% | 0.5% | $436 | $448 | 3.8% | 3.5% |
| Albany Creek | 2.4% | 2.0% | $493 | $516 | 3.8% | 2.6% |
| Keperra | 0.9% | 0.4% | $435 | $455 | 4.4% | 3.6% |
| Alexandra Hills | 0.8% | 0.4% | $446 | $488 | 5.0% | 3.5% |
| North Lakes | 2.0% | 0.8% | $421 | $451 | 4.4% | 2.5% |
Ready to get started with your home loan application? Get in touch with our team today for an obligation-free chat.
