{"id":2923,"date":"2022-06-28T08:03:46","date_gmt":"2022-06-28T08:03:46","guid":{"rendered":"https:\/\/royabhishek.in\/urbanbuyer\/16-brisbane-suburbs-that-are-cheaper-now-than-5-years-ago\/"},"modified":"2022-06-28T08:03:46","modified_gmt":"2022-06-28T08:03:46","slug":"16-brisbane-suburbs-that-are-cheaper-now-than-5-years-ago","status":"publish","type":"post","link":"https:\/\/royabhishek.in\/urbanbuyer\/16-brisbane-suburbs-that-are-cheaper-now-than-5-years-ago\/","title":{"rendered":"16 Brisbane suburbs that are cheaper now than 5 years ago"},"content":{"rendered":"

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Brisbane\u2019s property market<\/a> had a bumper start to 2022, even while markets in Sydney and Melbourne were beginning to cool \u2013 and only now has price growth shown signs of slowing.<\/p>\n

Thanks to historically low-interest rates, government incentives, pandemic-induced interstate migration, and historic levels of demand from buyers over the past two years, prices have surged across most of the country.<\/p>\n

Data shows that Australia\u2019s overall property prices beat records in the final quarter of 2021, with the national median house price surpassing $1 million for the first time.<\/p>\n

That\u2019s a 25.7% year-on-year surge in house prices and a 7.7% year-on-year increase for units.<\/p>\n

For Brisbane<\/a>, price growth shot up at the fastest rate of any capital city thanks to increased interstate migration and strong demand.<\/p>\n

\"Herston<\/p>\n

Domain data<\/a> shows that Melbourne\u2019s median property price currently sits at $831,346 versus $629,499 just 12 months ago.<\/p>\n

As you\u2019d imagine, over the past five years, the price difference is even more pronounced.<\/p>\n

And there are some Brisbane suburbs where price growth was particularly exceptional<\/a>.<\/p>\n

For example, Sunshine Beach in Noosa saw a whopping 191.67% increase in median prices over the past 5 years – the highest of any suburb across the country – to a new $3.5 million median.<\/p>\n

The similarly named Sunrise Beach, also in Noosa, also had an impressive 138.1% increase to $1.75 million, from just $735,000 in 2017.<\/p>\n

And it\u2019s not just Noosa suburbs where prices have hiked – several suburbs in the Sunshine Coast and Gold Coast regions also saw bumper price increases.<\/p>\n

Not every suburb follows the same trend<\/span><\/h2>\n

While Brisbane\u2019s prices have trended higher there are some exceptions, even amid a property boom.<\/p>\n

Data by Domain found that there is a raft of suburbs in Queensland where prices are actually cheaper now than what they were in 2017 \u2013 significantly less in some areas.<\/p>\n

Interestingly, like in New South Wales and Victoria, all of the 16 suburbs are in Brisbane, and all are units.<\/p>\n

But unlike in Victoria – where the affected suburbs are concentrated in the inner urban region of Melbourne – these Brisbane suburbs are spread throughout the city.<\/p>\n

Leafy inner-city favourites like Windsor, Indooroopilly, Bulimba, and Wooloowin are all more affordable than they were in 2017, thanks to an oversupply of units that the city is well on its way to absorbing.<\/p>\n

The median unit price in Windsor in Brisbane North is $430,000 today, which is 14.9% lower than in 2017.<\/p>\n

Median unit prices in Beenleigh in Bayside South also fell 12.7% over the 5-year period to $240,000.<\/p>\n

There were 6 suburbs in Brisbane West that made Domain\u2019s list of Queensland suburbs where property prices are cheaper now than they were 5 years ago.<\/p>\n

Such as Milton where median unit prices are $460,000, which is 9.8% lower than 5 years ago.<\/p>\n

Then there is Spring Hill and Chermside in Brisbane North where median unit prices have fallen 6.4% and 5.6% over the 5-year period.<\/p>\n

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And there is also one suburb in Brisbane East that made the list – prices in Bulimba have fallen 5.2% to $635,000.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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QLD suburbs where property prices are cheaper now than they were 5 years ago<\/strong><\/p>\n<\/td>\n<\/tr>\n

State<\/strong><\/td>\nSuburb<\/strong><\/td>\nRegion<\/strong><\/td>\nProperty<\/strong><\/td>\nMedian<\/strong><\/td>\n5-year Change<\/strong><\/td>\n<\/tr>\n
QLD<\/td>\nWindsor<\/td>\nBrisbane North<\/td>\nUnit<\/td>\n$430,000<\/td>\n-14.9%<\/td>\n<\/tr>\n
QLD<\/td>\nBeenleigh<\/td>\nBrisbane South<\/td>\nUnit<\/td>\n$240,000<\/td>\n-12.7%<\/td>\n<\/tr>\n
QLD<\/td>\nMilton<\/td>\nBrisbane West<\/td>\nUnit<\/td>\n$460,000<\/td>\n-9.8%<\/td>\n<\/tr>\n
QLD<\/td>\nIndooroopilly<\/td>\nBrisbane West<\/td>\nUnit<\/td>\n$499,500<\/td>\n-6.6%<\/td>\n<\/tr>\n
QLD<\/td>\nRuncorn<\/td>\nBrisbane West<\/td>\nUnit<\/td>\n$410,000<\/td>\n-6.4%<\/td>\n<\/tr>\n
QLD<\/td>\nSpring Hill<\/td>\nBrisbane North<\/td>\nUnit<\/td>\n$415,000<\/td>\n-6.4%<\/td>\n<\/tr>\n
QLD<\/td>\nGreenslopes<\/td>\nBrisbane West<\/td>\nUnit<\/td>\n$442,500<\/td>\n-5.9%<\/td>\n<\/tr>\n
QLD<\/td>\nChermside<\/td>\nBrisbane North<\/td>\nUnit<\/td>\n$415,500<\/td>\n-5.6%<\/td>\n<\/tr>\n
QLD<\/td>\nNewstead<\/td>\nBrisbane North<\/td>\nUnit<\/td>\n$605,000<\/td>\n-5.5%<\/td>\n<\/tr>\n
QLD<\/td>\nNundah<\/td>\nBrisbane North<\/td>\nUnit<\/td>\n$421,000<\/td>\n-5.4%<\/td>\n<\/tr>\n
QLD<\/td>\nBulimba<\/td>\nBrisbane East<\/td>\nUnit<\/td>\n$635,000<\/td>\n-5.2%<\/td>\n<\/tr>\n
QLD<\/td>\nKedron<\/td>\nBrisbane North<\/td>\nUnit<\/td>\n$423,500<\/td>\n-4.8%<\/td>\n<\/tr>\n
QLD<\/td>\nSherwood<\/td>\nBrisbane West<\/td>\nUnit<\/td>\n$445,000<\/td>\n-4.3%<\/td>\n<\/tr>\n
QLD<\/td>\nLutwyche<\/td>\nBrisbane North<\/td>\nUnit<\/td>\n$465,000<\/td>\n-4.1%<\/td>\n<\/tr>\n
QLD<\/td>\nWoolloongabba<\/td>\nBrisbane West<\/td>\nUnit<\/td>\n$482,000<\/td>\n-3.9%<\/td>\n<\/tr>\n
QLD<\/td>\nWooloowin<\/td>\nBrisbane North<\/td>\nUnit<\/td>\n$391,000<\/td>\n-3.5%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
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\u201cIt\u2019s the fastest-growing capital city unit market over the first three months of 2022, jumping 3.1%,\u201d <\/em>Dr. Nicola Powell, chief of research and economics at Domain<\/a>, said.<\/p>\n

\u201cThis is the property boom Brisbane has long been waiting for, providing the biggest upswing in unit prices in 14 years.\u201d<\/em><\/p>\n<\/blockquote>\n

Warning: Don\u2019t be fooled by low prices<\/span><\/h2>\n

While it might be tempting to be attracted to the low price growth in some of these suburbs, it\u2019s important to remember that low median house prices alone aren\u2019t enough alone to warrant a good investment opportunity.<\/p>\n

\u2018Cheap\u2019 property will always be \u2018cheap\u2019 so don\u2019t get lured into thinking you\u2019re getting a bargain.<\/p>\n

Also, don\u2019t expect investment-grade<\/a> returns from secondary locations and properties.<\/p>\n

Of course, we all know by now that location will do about 80% of the heavy lifting of a property\u2019s capital growth.<\/p>\n

\"Brisbane<\/p>\n

And that\u2019s why it\u2019s important to buy your investment property<\/a> in a suburb that is dominated by more homeowners, rather than a suburb where tenants predominate.<\/p>\n

Powell agrees that while the opportunity to buy for less than 2017 prices is very real, buyers need to do their homework before leaping in.<\/p>\n

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\u201cIf you\u2019re looking to purchase a unit \u2013 and many are because we\u2019ve seen houses over-perform \u2013 it always goes back to what is the quality and point of difference in the place you\u2019re purchasing? <\/em><\/p>\n

And how broad is that buyer pool going to be when you go to sell it down the track?\u201d <\/em>she said.<\/p>\n

\u201cIt\u2019s important to buy a property that\u2019s going to enable you to buy in the future and upgrade.\u00a0<\/em><\/p>\n

\u201cIf you\u2019re looking to purchase a unit in these areas where prices are still below that of 2017 levels, make sure you understand the developer you\u2019re buying from, and what\u2019s the point of difference between your place and others.\u201d<\/em><\/p>\n<\/blockquote>\n

Our advice at Metropole<\/a> is even firmer than that \u2013 don\u2019t fight the big trends<\/strong> \u2013 if these apartments could not perform during a boom, why would you expect them to perform well in the long term?<\/p>\n

Just avoid them!<\/p>\n

ALSO READ<\/strong>:<\/p>\n

16 Melbourne suburbs that are cheaper now than 5 years ago<\/a><\/p>\n

17 Sydney suburbs that are cheaper now than 5 years ago<\/a><\/p>\n