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.”
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.
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