LATEST research has found 43 suburbs in Brisbane where homes have sold for under $300,000 in the past year.
Researchers at PRDNationwide found the number of suburbs where homes have sold for $3000,000 or less dropped 25 per cent in the past six years, but that still meant one in five suburbs were in that price range.
PRDNationwide research manager Dr Diaswati Mardiasmo said the suburbs where sales occurred last year stretched from as close to the CBD as Milton to as far as Mount Crosby.
“If you have $300,000 budget you have access to approximately 22 per cent of Brisbane,” she said.
The average distance from the Brisbane CBD of homes sold in that price range last year was 18km, with the median price sitting at the higher end of the scale at $272,000.
Suburbs where the most $300,000 homes were sold were Ellen Grove (19) and Inala (12), with the properties generally three bedroom, one bathroom type properties. Inala has been constantly in the top two for the past six years, but Upper Kedron which was second in 2010 has been wiped off the list.
Hotspotting founder Terry Ryder said there were many areas where there were “cheapies with prospects” mostly in fringe areas where jobs were growing.
“The vast majority of people who live in metro areas really have no reason to go to the CBD, they don’t work there, they don’t shop there, unless you work in CBD – and 80 per cent don’t – being close to it is not relevant to a lot of people..”
Househunter Tayla Barrett, 26, began her property search two months ago along fringe suburbs in Brisbane’s southwest.
“The property would be to live in, with the intention to turn into an investment property later down the track,” she said. “It’s the best way to step into the Australian property dream.”
Her search was concentrated around properties 15 to 20km from the Brisbane CBD, where real estate buyer manager Taylah Rossiter and Teekay of Coronis have seen a lot of activity.
“It is still fairly common for us to find properties around the $300,000 mark or less,” Ms Rossiter said. “Usually these properties are townhouses and units. You can still find the odd house around $300,000 however now it is fairly rare.”
She said places like Forest Lake, Algester, Regents Park, Slacks Creek and Loganlea still had properties in that price range and were “still proximity to the Brisbane CBD”.
“We find that most buyers looking around the $300,000 mark are usually first home buyers, investors and even in some cases people who are downsizing”.
Top 5 Brisbane suburbs where homes sold under $300K last year:
Ellen Grove 19
Inala 12
Rocklea 9
Darra 6
Fitzgibbon 5
Originally Published: http://www.news.com.au