Revealed: Greater Brisbane’s top 20 most undervalued suburbs

Brisbane’s most undervalued suburbs have been revealed, with price rises of as much as $302,000 yet to come in the current housing cycle.

Brisbane’s most undervalued suburbs have been revealed, with price rises of as much as $302,000 yet to come in the current housing cycle.

Shock analysis by Suburb Data co-founder Jeremy Sheppard has found the Brisbane region still has areas where prices have significant room to rise despite already enduring the biggest surges in recent history.

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Nundah has been named the most undervalued suburb in Brisbane, drawing solid interest from buyers to houses such as 119 Ryans Road and 21 Oxford Street which go to auction next Friday and Saturday respectively.

He said the ripple effect of dozens of factors including nearby growth rates and price rises meant houses were still undervalued across many Greater Brisbane suburbs, with Nundah topping his top 20. It is currently priced about $264,000 below surrounding suburbs with about 21 per cent growth to go to match neighbours, he found.

Also ranked among Greater Brisbane’s most undervalued suburbs were Mackenzie in the southeast ($51k below neighbours), Crestmead in Logan ($21k below), Graceville in the south west ($176k below), Hawthorne in the east ($178k below) and Morningside ($302k below).

Mr Sheppard said undervalued suburbs would generally outperform their city’s average growth rate.

“So buyers of property in the top 20 should expect performance above the average for that city,” he said.

Place chief auctioneer Peter Burgin, who has over 40 auctions coming up next Friday, Saturday and Sunday as part of the One Winter Day campaign, said “some of those suburbs do definitely feel like they’ve got a bit of catching up to do”.

He said sellers simply wanted to understand what a fair price was in the market.

Place chief auctioneer Peter Burgin is set to oversee over 40 homes going under the hammer next Friday, Saturday and Sunday for their One Winter Day campaign. Picture: Liam Kidston

“Sellers have got great faith in the market that it will deliver a fair outcome for their home. Most also recognise that they’re selling and buying in the same market. I think everyone feels that no matter what’s happening in the market at the moment, property prices are going to get more expensive in Brisbane so they’re trying to make long term decisions now.”

“There is less stock on the market than some buyers would like and that’s also supporting values and outcomes.”

Ray White managing director Dan White – who is leading a Queensland property panel on Sunday to celebrate the Group’s 100 years of operation in Brisbane with REA Group CEO Owen Wilson, Consolidated Properties Don O’Rorke and REIQ CEO Antonia Mercorella – said in the last three years South East Queensland consistently outperformed all major urban areas bar Perth.

Ray White managing director Dan White is celebrating 100 years in Brisbane on Sunday, with 100 homes on the auction list out of Rivershed at Howard Smith Wharves.

He said Neoval data showed SEQ houses and units grew 9 to 12 per cent and 10 to 11 per cent respectively – a massive rise since the pandemic.

“The last three (to four) years have seen a change in a relatively long standing historical trend – SEQ growth previously tracked with or underperformed the rest of Australia, it’s now growing at a dramatically higher rate.”

Ray White – which has over 100 homes going under the hammer this Sunday at Rivershed – had its data team at Neoval analyse suburbs that were significantly undervalued compared to neighbours, with strong growth expected out of houses in Ormiston, Stafford, Camp Hill, Mitchelton, Brisbane City, Palm Beach, Oxley, Flagstone, Scarborough, Albany Creek and Noosaville.

Suburbs neighbouring higher priced areas are set to see an upswing as buyers seek out more affordable value.

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“These are bridesmaid suburbs across SEQ that have underperformed compared to nearby higher growth areas.”

For units, the top areas Neoval found were North Stradbroke Island, Eagle Farm-Pinkenba, Camp Hill, Chapel Hill, Brisbane City, Palm Beach, Augustine Heights-Brookwater, Wolffdene-Bahrs Scrub, Scarborough-Newport, The Hills district in Moreton Bay and Sunshine Beach.

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Originally published as Revealed: Greater Brisbane’s top 20 most undervalued suburbs