Qld’s richest real estate suburbs and regions revealed
We reveal Queensland’s wealthiest real estate zones in Brisbane and across the regions by median house price.
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With house prices on the rise, Queensland is in the midst of the kind of real estate boom that hasn’t been seen in years.
CoreLogic Head of Research, Eliza Owen, said the nearly unprecedented surge in values had been driven by multiple factors.
“Demand has been particularly strong across the house segment, where quarterly growth in Brisbane house values (6.2 per cent) was more than double that of unit value increases (3 per cent),’’ Ms Owen said.
“The same trend has been seen across the rest of Queensland, though with a smaller differential — house values rose 6.3 per cent compared with a 5.5 per cent uplift in units.
“Very low mortgage rates have been a key driving factor of higher property values, alongside the swift recovery in economic activity amid eased social distancing.
“Throughout much of 2020, first home buyers also contributed significantly to demand, spurred by the introduction of the first home loan deposit scheme, the Homebuilder scheme and Queensland’s Regional Home Building Boost grant.’’
Here is a list of the state’s richest suburbs and regional towns, measured by median house prices.*
Topping the list at a cool $1.9 million is riverfront cafe and restaurant hub Teneriffe, with a bunch of “old money’’ inner north suburbs close behind.
But outside Brisbane, Sunshine Beach came close to pipping Teneriffe with a median price of $1.89 million.
The Sunshine Coast and Gold Coast each have 10 suburbs where median house prices are more than $1 million.
* Source: CoreLogic
BRISBANE (NORTHSIDE)
TENERIFFE
Until a few decades ago this was a rundown, non-residential part of town left behind after its grand woolstores fell into disuse.
But then smart developers realised those old woolstores, just across the street from the Brisbane River, could be turned into luxury units.
An influx of cafes, restaurants and the super popular riverfront boardwalk, plus proximity to the CBD, have propelled houses to a Queensland-topping median price of $1.91 million.
HAMILTON
One of a cluster of “old money’’ inner north suburbs, it boasts grand colonial homesteads that change hands for $10 million-plus.
It will be interesting to see if controversial new flight paths can put a dent in the whopping $1.8 million median house price.
ASCOT
Another old money hangout boasting sprawling mega mansions, it has been the favoured suburb for billionaires and millionaires for a century.
Being handy to the racetrack, and a long strip of top notch eateries on Racecourse Rd, certainly doesn’t hurt.
Expect to have $1.73 million in your pocket for a median-priced home.
CLAYFIELD
Also a fave with Brisbane’s wealthiest people, it boasts one of Brisbane’s elite private schools, closeness to the airport, Chermside shopping centre and the CBD among other attractions.
With a median price of $1.32 million, it has been a reliable investment for many decades.
WILSTON
If you live on the hill, you won’t find a house anywhere close to the suburb’s $1.32 million median.
The state school which shares the suburb’s name is so sought-after parents camp out overnight to secure a place for little Johnny and Sarah.
BRISBANE (EASTSIDE)
BULIMBA
One of three adjacent riverfront suburbs where houses once went for a song, it shook off its rough reputation several decades ago after the wharfies moved out.
It is now centred around one of Brisbane’s best restaurant and coffee shop strips, and the grand old Queenslanders are on big blocks.
The median here is a pricey $1.47 million.
HAWTHORNE
With a median currently of $1.43 million, and several decades of spectacular price growth behind it, you would think this is a safe bet to park your life’s savings.
But the new flight paths have hammered this pocket, and we are still in a COVID aircraft slump.
Time will tell what will happen.
BALMORAL
As well as big old houses on lovely big blocks, it boasts not one, but two historic cinemas in the area plus prestigious Lourdes Hill College.
The character building code has luckily kept the spread of ugly unit projects to a minimum.
Traffic is a big issue these days, as is aircraft noise, but it is still one of Brisbane’s best suburbs, which is reflected in the $1.24 million median price.
GUMDALE
Originally known as Mossdale after a local grazing property, few people have heard of it.
But leafy Gumdale has a hefty $1.1m median house price, in part because of the large land parcels and big homes.
The last Census put its population at only 2000 souls, but it is gradually densifying.
SHELDON
The rural residential suburb just pips the magic $1 million mark for median house prices.
Backing on to large areas of bush which still have koalas, it is a tranquil retreat from the stresses of modern life.
MANLY
Don’t expect to find a house for the $931,000 median near the waterfront.
This is a glorious suburb with kilometres of bayside promenades, fish and chipperies, parks and more.
A century ago this was where Brisbane’s elite had holiday houses.
WAKERLEY
Another suburb near Gumdale and Belmont, bushland and sprawling properties are the reason behind its healthy $878,000 median.
The fact it’s only a five to 10 minute drive to Manly and a picnic by the Moreton Bay foreshore has not hurt its appeal.
It has been a consistently good growth performer in recent years.
BELMONT
Best known for a rifle range, Belmont is less well known for some pretty palatial homes.
Blocks here can be huge, there’s loads of bushland and a generally peaceful atmosphere, which is why you need to hand over $818,000 for a median-priced home.
LOTA
Until recently a sleepy little backwater, canny buyers have recently woken up to its beautiful bayside attractions.
Blocks are large, and so are the houses which go for a median of $785,000.
This is great place to bring up a family.
WYNNUM
Another glorious waterfront suburb with a long, long history among the wealthy and holiday-makers in the days before the Gold and Sunshine coasts took off.
It boasts one of the biggest yacht marinas in Australia, great waterfront promenades, parks and more.
The median is $756,000, but you won’t find much under that mark and good stock is way more expensive.
BRISBANE (WESTSIDE)
ST LUCIA
The University of Queensland originally was the driver for the huge prices in this up-market pocket of Brisbane.
But a lot of non-academic families have moved in over the past two decades, attracted by very high-quality architect-designed residences.
It’s riverfront, has a vibrant retail “village’’ and great public and private schools. Say no more.
The median is $1.53 million.
PULLENVALE
Once Brisbane’s salad bowl, with pineapple and dairy farms dotted among the bush, it is now home to a large chunk of the city’s multi-millionaires.
Expect huge sprawling one-level homes on massive green blocks with big gum trees.
The median price is $1.44 million.
CHELMER
Riverfront Chelmer is one of Brisbane’s oldest suburbs and still has many of its loveliest Queenslanders.
Arguably two of the city’s most beautiful streets — Laurel Ave and Longman Ave — are the jewels in the crown.
There's a historic cinema and great restaurants on Honour Ave as well, but peak hour traffic across Walter Taylor Bridge is a nightmare.
Median: $1.33 million.
PADDINGTON
Once a rough as guts working class suburb, in the past three decades it has boomed, and boomed and boomed.
Price growth of 10 per cent-plus has been achieved almost every year in the past five years and looks set to keep on going.
Strong character controls have protected its lovely Queenslanders and narrow, hilly streetscapes which include the grand Governor’s residence on Fernberg Rd.
The median is $1.3 million.
FIG TREE POCKET
A sprawling riverfront, mostly rural residential suburb formed by a long bend in the Brisbane River, the former farmland now has houses with a median price of $1.28 million.
It’s a long drive from pretty much everywhere, but once you’re home it’s heaven.
Lone Pine Koala Sanctuary is a major local attraction.
BROOKFIELD
Another former farm area (once loggers had cleaned out the best trees which were turned into many of Brisbane’s Queenslanders), the median here is $1.25 million.
It still has a wonderful semi rural, village feel centred on the historic showgrounds.
AUCHENFLOWER
Despite low-lying parts occasionally going under in floods, most recently in 2011, this suburb has experienced exponential growth with the median now a whopping $1.2 million.
Nearby is Rosalie Village, which boasts one of Brisbane’s best delis, a boutique cinema and a bunch of good restaurants.
Milton State School, one suburb over, is among the best in Queensland.
BRISBANE (SOUTHSIDE)
COORPAROO
Until about a decade ago this was one of those older, daggier Brisbane suburbs that got overrun by ugly brick six packs.
Then smart people realised it is 5km from the CBD, has great bus and rail connections and is close to highly-regarded Churchie, Villanova, Loretto College and Mt Carmel schools.
Once the Coorparoo Square came along, it really took off.
You pretty much have to be a millionaire (last figures put the median at $965k) to get into the market there now.
STRETTON
On the border of Logan, it’s about as far south as you get in Brissie.
Big, leafy blocks, family friendly (lots of roundabouts to slow down cars) and 20 minutes to the airport.
Freeway sound barriers would be helpful in some bits. The median for houses is now a tad over $900k.
TARRAGINDI
Another formerly old and daggy ‘burb that has taken off like the proverbial rocket, with the median now north of $880,000.
If you don’t have to go to work in peak hour, you can barrel down the 10km to the city on the M1 in under 10 minutes.
Near Toohey Forest and the well regarded Wellers Hill State School.
HOLLAND PARK
Most blocks are 600sqm even though it’s 6km from South Bank, Stones Corner and all those fun places.
Scenic Whites Hill reserve is great for walking and koala spotting and it’s handy having Greenslopes hospital so close.Expect to pay a median of $795,000.
PARKINSON
A neighbour to Stretton, it’s got shops, pools, gyms, medical centres and all the rest plus leafy blocks and friendly faces.
The median is $730,000, so pretty good for all that.
REDLAND
POINT LOOKOUT
You could still buy an old fibro holiday home here in the ‘80s for a song.
These days, the epicentre of Straddie’s tourist boom has homes fetching a median of $863,000.
Only problem is, don’t buy in if you want to get out quickly.
Houses change hands easily in a boom market, but in normal times properties can take a year or more to shift.
ORMISTON
Not as densely packed or as well known as its canal estate neighbour Raby Bay, homes here go for a median of $831,000.
Shopping, pubs and takeaways etc are at nearby Alexandra Hills, and scenic Wellington Point is just to the north.
CLEVELAND
Once a forgotten, out-of-the-way Bayside suburb, recent subdivisions have turbocharged prices which have now reached a median of $749,000.
It’s the gateway to the Bay islands and has plenty of bush and koalas — for now.
LOGAN
FORESTDALE
At the northern end of bustling Logan City, it’s popular with retirees or families with older children.
No public transport, shocking internet connection and poor walkability have done nothing to dent the relatively high $728,000 median price.
If you like green and relaxing, this is the place for you.
BUCCAN
One of Logan’s acreage areas, it’s a great place to relax once you get home from workplaces or school, neither of which can be found in the suburb itself.
But now that Yarrabilba is booming it is no longer that far from shopping and other services.
The median is $720,000.
UNDERWOOD
Long considered an ugly light industrial area, in recent times the suburb has blossomed.
Median prices are now a healthy $678,000.
Access is first class, being adjacent to the M1. Many people work locally so they don’t have to battle the horrendous daily jam on the freeway into Brisbane.
CORNUBIA
Dotted with big, flash homes in a green hilly location, you can easily pay way over a million for a property in this suburb.
The median is actually a surprisingly affordable $653,000, however.
GOLD COAST
MERMAID BEACH
Famous for one of the ritziest oceanfront streets in the country, it is no surprise the median house price is an eye-watering $1.66 million.
Up until the ‘80s prices were still reasonable, but a rash of mega mansions have firmly put the suburb on the map.
BUNDALL
Busy, central and built up, if you’re after access to good schools and professional hubs this is the place for you.
Despite being inland, the median price is still $1.41 million.
BROADBEACH WATERS
Set back from its beachside neighbour in a quiet pocket, this canal estate has a mix of retirees, young families and in-betweeners.
Very low crime area.
Median price is $1.4 million.
CLEAR ISLAND WATERS
Another canal estate, next to Broadbeach Waters, it also is very quiet, safe and close to Pacific Fair, Robina Town Centre and the Q Super Centre.
All that means the median price is a sizeable $1.29 million.
CURRUMBIN VALLEY
Once upon a time this was a rural community, then the urban hippies moved in and now there are a ton of stylish but eco-friendly homes.
Out of the way, so you have to drive everywhere, but people here like being far from it all.
It’s also expensive — $1.25 million.
SUNSHINE COAST
SUNSHINE BEACH
The second-most expensive suburb in Queensland at $1.89 million, pipping even neighbouring Noosa Heads.
You get great ocean views, but be prepared to spend your free time washing off the salt blown in by the sea breezes. It corrodes everything.
There’s a long, long beach, a small village and of course Noosa and its delights are close by.
NOOSA HEADS
The playground of southerners for decades, it is no surprise the median here is a whopping $1.62 million.
Not a bad turnaround from a former fishing village notorious for its ferocious sandflies.
The controversial draining of a wetland to create Noosa Sound fixed the sandflies, and since then it has been a matter of trying to rein in creeping development.
So far, highrise is at a minimum, but traffic in the holidays, and parking, is an absolute shocker.
SUNRISE BEACH
A great hide-out for families. A bonus is that part of the beach is dog friendly.
There are two schools, a pool and tennis courts, small supermarket and cafe. All you really need.
But you have to part with a tidy $1.47 million.
NOOSAVILLE
On the scenic Noosa River, there’s nothing sleepy now about the main strip which is lined with more than a kilometre of cafes, restaurants and holiday apartments.
Ideal for small children and retirees.
Median price is $1.46 million.
MINYAMA
Set on the Mooloolah River, just back from the beach, this is a quiet place but with a cinema and shopping centre nearby.
Expect to pay $1.33 million.
MACKAY/WHITSUNDAY
CANNON VALLEY
The gateway to the world-famous Whitsunday Islands, this lush suburb is (by southeast Qld standards) astounding value at $557,000 for a median home.
It’s far enough away from the waterfront tourist strip to be liveable.
GLENELLA
Highly sought after by Mackay families for its modern homes and proximity to Mt Pleasant shopping centre and the CBD.
Despite the mining boom pushing up prices, the $504,000 median is reasonable.
OORALEA
Never heard of it? Well, outside of Mackay, you wouldn’t be alone.
But if you’re a local this is the place to be. Close to Paget industrial hub, the uni and more, it attracts investors as well as families.
Median is $472,000.
CANNONVALE
A neighbour to Cannon Valley, it is quieter but further from Airlie Beach/Shute Harbour.
Definitely more for families than investors.
The median is $467,000.
TOWNSVILLE
CASTLE HILL
If you live in the stinking hot far north, you want to live in this suburb if you can afford it.
Great sea views and cooling breezes.
In recent years cashed-up miners from Mount Isa have turbocharged the market and there are now plenty of jaw-dropping designer homes.
Median price is $883,000.
NORTH WARD
After Castle Hill, this has got to be the best place to live in Townsville.
Right on the Strand, which some years ago received a lavish makeover, it has a sensational outlook over the ocean to Maggie Island.
Just don’t go swimming there in summer (deadly stingers).
The $670,000 price tag is pretty good considering what’s on offer.
ALICE RIVER
This inland suburb has a broad mix of demographic groups.
Investors have played a large part in driving up the median to $503,000.
IDALIA
Ten minutes from the CBD, it is the newest and biggest development that close to town.
Expect all the usual conveniences.
Price is $457,000.
CAIRNS
GOLDSBOROUGH
This rural res area south of the city is a bit of a hike, but once you’re home it is magic.
Green like you’ve never seen. That’s because it rains. And rains and rains.
Blocks are big and smiles are wide. The median is $720,000.
PALM COVE
More tourist town than suburb, this is where cashed-up southerners, Japanese and European tourists (before COVID) come to relax by the Coral Sea.
Exclusive Double Island resort is just offshore. The beach is long and is lined with coconut palms and the biggest paperbark trees you’ve ever seen.
$703,000 is a pretty decent median price for all that.
CLIFTON BEACH
This is the exact opposite. A family beachside suburb where there are more crocs than tourists (seriously, don’t go swimming at night).
Only problem is, it’s a bloody long commute into the CBD. That means once you’ve got home from work, there’s no chance you will turn around again to go clubbing or eating out in town.
The median is $623,000.
FRESHWATER
A delightfully green suburb much closer to the CBD, it is unfortunately also close to the airport.
But if you’re only a few streets back you don’t really notice it.
You can still get great big blocks here and the walking on nearby Mt Whitfield — where, sadly, Cairns’ last cassowary disappeared a few decades back — is scenic and relaxing.
Like many suburbs in Cairns, the long slump in tourism has capped price growth and the median is an affordable $592,000.
TOP TEN MOST EXPENSIVE QLD SUBURBS
1. Teneriffe $1.91m
2. Sunshine Beach $1.89m
3. Hamilton $1.8m
4. Ascot $1.73m
5. Mermaid Beach $1.66m
6. Noosa Heads $1.62m
7. St Lucia $1.53m
8. Bulimba $1.47m
9. Sunrise Beach $1.47m
10. Noosaville $1.46m
Originally published as Qld’s richest real estate suburbs and regions revealed
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