The 215 Brisbane suburbs where you can buy for under $700k
There are a whopping 215 suburbs in Greater Brisbane where you can still buy a house for under $700,000 - the best value of the east coast capitals in Australia. HERE'S WHERE TO LOOK.
The $700,000 family home within 10km of Brisbane’s CBD is on the verge of extinction, with only three suburbs remaining in that price range so close to the city but so many more within the 20km range.
Everton Park, Stafford and Rocklea are the last of a dying breed of suburbs where buyers can still afford a house on a decent sized block and be close to the city.
With the housing market at boiling point, $700,000 is now considered the “magic number” when it comes to putting a benchmark figure on Australian property, according to a new report by independent valuer Herron Todd White.
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The good news is there are still plenty of options for buyers prepared to look further afield, with suburbs only 15km from the centre of Brisbane, like Nudgee and Banyo in the north and Salisbury and Sunnybank Hills in the south, still offering bang for your buck.
Analysis of CoreLogic data reveals there are 215 suburbs in Greater Brisbane with a median house price of $700,000 or less, but many of those are 20km or more from the CBD.
Herron Todd White director David Notley said the Brisbane suburbs where $700,000 delivered reasonable buying opportunities last year had shifted further to the outer reaches of the city this year.
That is reflected in the latest home value data from CoreLogic, which reveals Brisbane has seen a 14.6 per cent rise in home values over the past 12 months, with a 12.1 per cent increase so far in 2021.
“You’d be safest buying something in the mid-ring localities,” Mr Notley said.
“Essentially, seek somewhere as close to our CBD as possible within your budget as there will likely be upward pressure on prices as the year progresses.
“Moorooka, Mount Gravatt, Geebung, Banyo and Nudgee could all be on your shortlist as
either a homebuyer or investor. Also, try to stick with detached housing where possible and look for nearby retail, transport and lifestyle facilities.”
In Everton Park, only 9km north of the CBD, Mr Notley said there were still some entry-level options available.
“Most will be 1960 to 1980 brick constructions on 600 sqm sites,” he said.
“In a similar vein is housing in nearby Arana Hills and Ferny Hills where approximately $700,000 will land you a mid-to-high set 1960 to 1980 brick dwelling as well.”
A good example is a three-bedroom, two-bathroom home at 9 Mitchell Street, Arana Hills which sold for $695,000 in June.
McGrath Real Estate founder John McGrath predicts Stafford will be a suburb worth investing in, especially in the wake of Brisbane winning the 2032 Olympic Games bid.
Mr McGrath said the suburb had great medical facilities, hospitals, cafes and a shopping centre.
“It’s quite a large suburb and has a bit of everything,” Mr McGrath said.
“There are public housing pockets, but there are also homes over $800,000.
“Many renovations are happening, along with knockdowns for rebuilding.”
But if you ask Scott Rumble of Harcourts Solutions Group Windsor, the days of buying a house for $700,000 in Everton Park and Stafford are “very numbered, if not already gone”.
Mr Rumble said family homes in those suburbs were selling for $100,000 more than they expected even a few months ago.
“We had one on the weekend that went for $825,000 when we thought it might crack the $700,000 mark,” Mr Rumble said. “It’s just crazy.
“Hence, everything is now for sale with no price on it because even we don’t know (what a property will sell for).”
Further north though, suburbs like Banyo, Geebung and Nudgee all have median house prices of between $650,000 and $700,000, according to CoreLogic.
Mr Notley said they were well-established suburbs that had great potential, with services and facilities close by and good long-term capital growth prospects.
On the southside, suburbs like Nathan, Salisbury, Coopers Plains, Runcorn and Sunnybank Hills carry median house prices of less than $700,000.
Mr Notley said most houses available at that price point would be entry-level, post-war style three-bedroom properties on 600 sqm blocks.
Pallara, within 20km of the CBD and with a median house price of $621,500, is also one of Mr Notley’s picks.
“Pallara feeds off the Forest Lake master planned estate, which saw its final stages completed some years back,” he said. “The Forest Lake project transformed this area, delivering comprehensive infrastructure including parklands and community facilities.
“In Pallara you’ll find that a two-year-old modern home of four-bedroom, two-bathroom, two-car accommodation situated on a 450 to 500 sqm block sits at the $700,000 price point.”
In the east, suburbs heading out to the bayside like Capalaba, Thorneside and Alexandra Hills are appealing because of their waterside locations and affordability.
A four-bedroom, two-bathroom house on 725 sqm at 7 Doolan Court, Capalaba, recently sold for $725,000 in May.
And closer to the CBD, buyers can still find a circa 2010 project home with four bedrooms on an average block of land in Wynnum West and Hemmant for around $700,000.
In Brisbane’s west, Rocklea is one of the last suburbs standing when it comes to finding a three-bedroom house for under $700,000.
Your Haven Realty principal Nick Kruger said first homebuyers, in particular, were seeing the benefits of buying in Rocklea.
“It’s very affordable — you’re getting a lot for your money, given it’s so close to the city and close to transport hubs,” Mr Kruger said.
“I’m starting to see more families come into the suburb.”
NORTH BRISBANE SUBURBS WITH $700K OR LESS MEDIAN HOME PRICE
Suburb Distance from CBD Median house price
Everton Park 9km $696,000
Stafford 8km $694,000
Nudgee 15km $685,500
Carseldine 17km $675,000
Aspley 13km $675,000
Chermside West 10km $660,000
Geebung 13km $656,000
Banyo 14km $650,000
Brighton 23km $635,000
Taigum 16km $600,000
Boondall 13km $577,500
Bracken Ridge 17km $552,500
Deagon 18km $550,000
Zillmere 14km $532,500
Bald Hills 16km $531,000
Fitzgibbon 17km $475,000
(Source: CoreLogic)
SOUTH BRISBANE SUBURBS WITH $700K OR LESS MEDIAN HOME PRICE
Suburb Distance from CBD Median house price
Nathan 11km $688,000
Sunnybank Hills 15km $655,000
Salisbury 12km $643,750
Drewvale 26km $635,000
Coopers Plains 12km $630,000
Pallara 19km $621,500
Heathwood 19km $590,000
Runcorn 14km $585,000
Willawong 15km $559,900
Algester 16km $547,250
Rocklea 9km $460,000
Acacia Ridge 14km $430,000
Archerfield 12km $404,500
(Source: CoreLogic)
EAST BRISBANE SUBURBS WITH $700K OR LESS MEDIAN HOME PRICE
Suburb Distance from CBD Median house price
Manly West 15km $683,500
Birkdale 19km $682,000
Calamvale 19km $660,000
Thorneside 25km $641,000
Tingalpa 13km $630,000
Wynnum West 17km $619,500
Mount Cotton 27km $605,000
Victoria Point 23km $588,750
Capalaba 19km $550,000
Hemmant 11km $549,500
Alexandra Hills 21km $530,000
Coochiemudlo Island 35km $383,500
(Source: CoreLogic)
WEST BRISBANE SUBURBS WITH $700K OR LESS MEDIAN HOME PRICE
Suburb Distance from CBD Median house price
Ferny Grove 15km $692,500
Middle Park 17km $685,000
Seventeen Mile Rocks 11km $670,000
Everton Hills 12km $647,500
Bellbowrie 20km $635,500
Moggill 20km $630,000
Jindalee 13km $620,000
Oxley 14km $620,000
Keperra 11km $610,000
Jamboree Heights 16km $575,050
Riverhills 19km $558,500
(Source: CoreLogic)
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