Queensland dominates: Australia’s cheapest suburbs to buy a home

The cheapest suburbs to buy homes in have been revealed, with new data showing prices in some pockets falling up to $24,000 in rare areas sheltered from rampaging inflation. FULL LISTS

This two bedroom house at 21 Abbotsford St, Toogoolawah, in Ipswich is on an 890sq m block and listed at offers over $379,000.

The cheapest suburbs to buy homes in have been revealed, with new data showing prices in some pockets falling up to $24,000 in rare areas sheltered from rampaging inflation.

All of Australia’s top 10 most affordable suburbs to buy apartments are in Queensland, according to latest PropTrack data released Tuesday – with four of the 10 cheapest places to buy a house also in the state.

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One of the most affordable suburbs to buy a unit in Queensland is Woody Point. A two bed apartment at 5/5 Lilla Street, Woody Point, is currently listed at offers over $549,000.

PropTrack economist Anne Flaherty said “while prices are unsurprisingly higher in Greater Brisbane, there remain pockets of affordability, particularly around the Ipswich (SA4) region, with Toogoolawah the suburb with the lowest median house price, at $402,000”.

According to the Australian Bureau of Statistics, the Ipswich Statistical Area 4 region includes Ipswich City across through to surrounding townships like Esk, Lowood, Laidley, Harrisville and Boonah.

Ms Flaherty said “even suburbs closer in to Brisbane can offer affordability to buyers, for example One Mile which is around 45 minutes from Brisbane and comes with a median house price of $462,000”.

Prices went backwards in several SEQ suburbs, falling by as much as $24,600 for houses in Marcoola on the Sunshine Coast and $10,000 for units in Currumbin on the Gold Coast. In Brisbane, suburbs sheltered from inflation included Kurwongbah in Moreton Bay South where the median house price fell $7,000, while Highvale was up 2.4 per cent or about $34,000, and Dayboro rising 2.7 per cent or $22,500.

One of the suburbs where prices have not rocketed up with inflation is Kurwongbah where a two bedroom house at 5 Lyons Road on a massive 8,111sq m block is currently listed for sale at $895,000.

The median price of a house was $865,000 in Greater Brisbane in November, however across Ipswich and the Moreton Bay region there are suburbs priced with medians well below $500,000.

Statewide, the lowest median suburb price for houses was $177,000 in Mount Morgan, which was second cheapest nationally behind Rangeway in the Western Australian outback ($174,000).

Ms Flaherty said the “the state’s size and diversity” were key to the array of property options on offer.

“While some of the most expensive suburbs in the country are located in Queensland, so too are many of the most affordable,” she said.

Buyers looking to get their foot in the door for a house across Greater Brisbane region would be hard pressed to look past Ipswich SA4 for affordability. Eight of Queensland’s top 10 cheapest suburbs for houses are there: Toogoolawah $402,000, Laidley $425,000, Dinmore $434,000, Lowood $444,000, Laidley North $448,000, Esk $457,000, Gailes $461,000 and One Mile $462,000.

This massive five bedroom house at 12 Endwood Court, Highvale, is on a 4,000sq m block and listed at offers over $1.325m. The suburb has seen its median price grow lower than inflation.

Ipswich Major Teresa Harding said “the corridor between the Ipswich CBD and Springfield is one of the fastest growing areas in the nation, fuelled by available land supply, an affordable lifestyle and easy access to neighbouring Brisbane”.

“No other city in Queensland comes close to just how quickly Ipswich is growing. Ipswich is moving forward in leaps and bounds and that is not by accident,” she said.

“We have a younger than average population and Council has committed to ensuring we offer services and activities that make Ipswich a great place to live. Our projected annual growth rate sits at 3.3 per cent, and by 2046 we expect our population to grow to 535,000 residents and last year we welcomed more than 6,000 residents.”

BRISBANE

Top 10 most affordable suburbs: Houses

1 Toogoolawah Ipswich $402,000

2 Macleay Island Brisbane – East $418,000

3 Laidley Ipswich $425,000

4 Dinmore Ipswich $434,000

5 Lowood Ipswich $444,000

6 Laidley North Ipswich $448,000

7 Esk Ipswich $457,000

8 Brendale Moreton Bay – South $457,000

9 Gailes Ipswich $461,000

10 One Mile Ipswich $462,000

Top 10 most affordable suburbs: Units

1 Kooralbyn Logan – Beaudesert $248,000

2 Logan Central Logan – Beaudesert $281,000

3 Woodridge Logan – Beaudesert $291,000

4 Beenleigh Logan – Beaudesert $315,000

5 Waterford West Logan – Beaudesert $324,000

6 Booval Ipswich $329,000

7 Slacks Creek Logan – Beaudesert $337,000

8 Goodna Ipswich $343,000

9 Mount Warren Park Logan – Beaudesert $358,000

10 Kingston Logan – Beaudesert $371,000

(Source: PropTrack)

SCROLL DOWN FOR REGIONAL QLD, AUSTRALIA DATA

A two bed unit at 50/97-111 Routley Drive, Kooralbyn, is listed at $189,000 in one of Queensland’s most affordable suburbs.

Ms Flaherty said regional Queensland was also a strong contender for buyers looking for affordable suburbs, with South Gladstone topping the list nationally for units, off a median price of $178,000. Central Queensland, Townsville, and Cairns dominated the regions where the most affordable suburbs can be found across the state, she said, with the median price of a house sitting under $300,000 in the cheapest suburbs.

“Queensland has experienced high levels of population growth in recent years and is forecast to continue doing so. This growth will support demand for housing and help to support property prices over the coming years.”

A two-bedroom unit at 2/18 Bauhinia Crescent, Marcoola, has been listed with a price guide of $850,000. The suburb has been named among those where median prices have grown the least in Queensland.

This three bedroom home at 4 Second Ave, Marcoola, is on a 546sq m block and listed at offers over $899,000.

SEE THE LATEST PROPTRACK HOME PRICE INDEX

Nationally Queensland’s absolute dominance of the cheapest suburbs to buy a unit was led by Townsville which made up half the Top 10 – Hermit Park $196,000, Pimlico $215,000, Rosslea $220,000, Railway Estate $221,000, and West End $225,000. Cairns also featured strongly for affordable unit prices nationally with Manunda $213,000, Woree $221,000 and Edmonton $223,000 making the Australian top 10, with the remaining suburb being West Gladstone in Central Queensland $211,000.

Regional Queensland property prices pushed the state to also make up four of the top 10 most affordable places for houses too – the highest of all states – including Blackwater $207,000, Ingham in Townsville $234,000 and Longreach in the Queensland Outback $241,000.

REGIONAL QUEENSLAND:

Top 10 most affordable suburbs: Houses

1 Mount Morgan Central Queensland $177,000

2 Blackwater Central Queensland $207,000

3 Ingham Townsville $234,000

4 Longreach Queensland – Outback $241,000

5 Murgon Wide Bay $256,000

6 Rockhampton City Central Queensland $263,000

7 East Innisfail Cairns $265,000

8 Ayr Townsville $268,000

9 Tully Cairns $275,000

10 Sunset Queensland – Outback $281,000

Top 10 most affordable suburbs: Units

1 South Gladstone Central Queensland $178,000

2 Hermit Park Townsville $196,000

3 West Gladstone Central Queensland $211,000

4 Manunda Cairns $213,000

5 Pimlico Townsville $215,000

6 Rosslea Townsville $220,000

7 Railway Estate Townsville $221,000

8 Woree Cairns $221,000

9 Edmonton Cairns $223,000

10 West End Townsville $225,000

(Source: PropTrack)

AUSTRALIA

Top 10 most affordable suburbs: Houses

1 Rangeway WA Western Australia – Outback (South) $174,000

2 Mount Morgan QLD Central Queensland $177,000

3 Blackwater QLD Central Queensland $207,000

4 Whyalla Norrie SA South Australia – Outback $212,000

5 Port Augusta SA South Australia – Outback $217,000

6 Whyalla Stuart SA South Australia – Outback $222,000

7 Cobar NSW Far West and Orana $229,000

8 Spalding WA Western Australia – Outback (South) $233,000

9 Ingham QLD Townsville $234,000

10 Longreach QLD Queensland – Outback $241,000

Top 10 most affordable suburbs: Units

1 South Gladstone QLD Central Queensland $178,000

2 Hermit Park QLD Townsville $196,000

3 West Gladstone QLD Central Queensland $211,000

4 Manunda QLD Cairns $213,000

5 Pimlico QLD Townsville $215,000

6 Rosslea QLD Townsville $220,000

7 Woree QLD Cairns $221,000

8 Railway Estate QLD Townsville $221,000

9 Edmonton QLD Cairns $223,000

10 West End QLD Townsville $225,000

(Source: PropTrack)

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