55pc price rise: Brisbane suburb Qld’s most expensive place to buy
A suburb in Brisbane’s southeast has beaten blue chip favourites Teneriffe, Sunshine Beach and Surfers Paradise to become the most expensive place to buy a home in Queensland.
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A new suburb in Brisbane’s southeast is now the most expensive place to live in Queensland, after beating blue chip favourites Teneriffe, Sunshine Beach and Surfers Paradise in latest data.
PropTrack’s August Market Trends report named Chandler as the new top suburb in Queensland, after a whopping 54.9 per cent rise in its median price in the past year.
Its median dwelling price is now $3.345m, according to CoreLogic – a full $295,000 more than its closest rival Teneriffe ($3.05m), the only two suburbs in the state to crack the $3m mark.
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This as Surfers Paradise ($2.73m), Mermaid Beach ($2.6325m) and New Farm ($2.4175m) all saw prices fall in the past year, though the biggest drop in the top 10 came off former top suburb Sunshine Beach – where the median fell 34.8 per cent to $2.3m.
Blue chip Ascot ($2.16m) and Hamilton ($2.115m) hung on in the top eight, while Clear Island Waters ($2.015m) can now be considered a major prestige location hitting ninth spot.
There were two suburbs on $2m in 10th spot – Broadbeach Waters and Tallebudgera Valley, both located on the Gold Coast.
Real estate agent Fraser Evans of Evans Properties – Remax Results grew up in Chandler where his team has sold 21 properties in the past year alone – about half of which were off market sales with prices rising in the region of 50 per cent.
“It’s a protected area so you can’t subdivide and it’s more lifestyle properties, multigenerational, within 20-odd minutes of Brisbane CBD. It’s been great to be part of the growth in this area. People usually tend to stay for a long period of time,” he said.
“The majority of buyers are young families or people who run their own businesses or professional who can work from home nowadays.”
Keenan and Morgan Littler, who own natural skincare company Bohemian Skin, built a luxury farmhouse in Chandler which they listed and sold for $4m to an interstate buyer after strong market demand.
“We were very lucky to secure the block off market through Fraser prior to property values skyrocketing in Chandler and secured building prices before the building industry had a huge price increase,” Mrs Littler said.
“We were intending on living in the property longer than we did however when Fraser told us what it was worth once it was completed, we’d have been silly not to have capitalised on the profit we’d made.”
MORE: See the latest PropTrack Home Price Index
She said their skincare business gave them a lot of flexibility so they decided to jump into another dream home project in the neighbouring suburb Birkdale.
“We sold Chandler, made an unbelievable profit and have now purchased another block off market through Fraser that we are about to commence a mid century modern style build on.”
Given how strong the market is, they’re not certain if they will be able to resist any gains they can make on the property: “Whether it’s something we stay in longer term or if we do the same again only time will tell.”
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