Brisbane land values: City’s most expensive suburb revealed

A riverside suburb has become Brisbane’s most expensive after land values there jumped 9.9 per cent in two years, while values in 11 others neighbourhoods have soared more than 19 per cent. SEE THE NEW LAND VALUES FOR 180 SUBURBS.

BRISBANE land values have smashed the million-dollar barrier, with the riverside suburb of Teneriffe the city’s most expensive neighbourhood.

New residential land values to be issued today by Queensland Valuer-General Neil Bray show that values have soared more than 19 per cent in 11 Brisbane suburbs since the previous valuation two years ago.

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Teneriffe has the city’s most expensive land, with a median value of $1 million, after values jumped 9.9 per cent.

Land values in adjoining suburbs also soared - by 10.1 per cent in New Farm to $980,000 and by 9.5 per cent in Newstead to $920,000.

Other high-priced suburbs include Hamilton (up 9.9 per cent to $890,000), Hawthorne (up 5.1 per cent to $830,000) and St Lucia (up 15.7 per cent to $810,000).

West End values rose 9.7 per cent to $790,000, Paddington values soared 19.4 per cent to $740,000 and values in Bulimba jumped 11.8 per cent to $760,000.

Wilston’s median land value rose 4.5 per cent to $700,000, Fortitude Valley grew but 7.9 per cent to $750,000 and Highgate Hill hit $730,000 after a 5.8 per cent increase.

The land values - which exclude houses - are based on recent property sales in each suburb.

Rocklea, ravaged in the 2011 floods, scored the highest valuation growth of 31 per cent, although the median value is only $275,000.

Many suburbs close to the CBD have seen significant increases in value.

Many high-growth neighbourhoods are “starter suburbs’’ for first-home buyers on the city fringe.

The northern suburb of Boondall, a short drive from the Shorncliffe seaside, achieved 22.6 per cent growth with a median value of $325,000.

Values jumped 21.7 per cent in Richlands ($280,000) and Bald Hills ($295,000), 20 per cent in Sinnamon Park ($420,000), 19.8 per cent in Kenmore ($485,000) and 19.4 per cent in Carseldine ($370,000).

Values across Brisbane - including residential, industrial and commercial - have risen by 6.8 per cent, on average, since 2017.

The new median value of residential land in Brisbane is $455,000.

The higher land values, effective from June 30, will be used as a guide to set council rates, state land tax and rental charges for state-owned land.