By Rich Harvey, CEO & Founder, propertybuyer.com.au
The Queensland capital is often regarded as a property market where you can get perhaps the most bang for your buck in Australia.
Big, bright and airy homes on sprawling blocks in close proximity to the city, surrounded by sought-after amenity, offering an enviable lifestyle, all for a fraction of what you’d pay for a comparable piece of real estate in Sydney and Melbourne? Where do we sign up?
But the perception that Brisbane is cheap as chips isn’t necessarily true. Sure, you can find a stunning home for less than down south, but there are some high-priced pockets in this fine city.
These are Brisbane’s most expensive suburbs in 2021.
TENERIFFE
Median house price: $2.39 million
Median unit price: $622,000
Average weekly house rent: $900
Average weekly unit rent: $550
Up until the late 1990s, the inner-city enclave of Teneriffe didn’t have too many redeeming qualities. It was rundown, rat-infested, a little sketchy after dark and on the way to nowhere, meaning few locals ventured there without a very good reason.
Then, the redevelopment of abandoned old woolstore warehouses into luxury apartments saw a renaissance for this historic part of Brisbane and sparked a wave of gentrification.
Now, it’s one of the hottest places in the city to live and play. The beautifully restored warehouses, high-end restaurants, trendy cafes and tree canopy covered streets give way to stunning and oversized Queenslanders that are especially sought-after by cashed up buyers.
The chance to be right on the edge of the action but tucked just a little bit away in a luxury home, is a very appealing prospect. It’s no wonder that new detached listings don’t tend to last long and command top dollar.
NEW FARM
Median house price: $1.9 million
Median unit price: $640,000
Average weekly house rent: $750
Average weekly unit rent: $420
Just down the road is the equally trendy but much bigger suburb of New Farm, which is a vibrant community home to some of the city’s best cafes, restaurants and boutiques.
The jewel in the crown is New Farm Park, a sprawling green space on the Brisbane River that’s the perfect space to spend an active day or a lazy afternoon. Within it, the world-class Powerhouse performance space.
The demographics here are wonderfully mixed – young people, professionals, families and older residents live together in a combination of fabulous Art Deco apartments, 70s brick walk-ups, period cottages, charming Queenslanders and grand manors.
In terms of accessibility, its riverside position gives New Farm easy access to the CityCat, plus there are a number of convenient bus routes. It’s also just minutes from the CBD.
HAMILTON
Median house price: $1.5 million
Median unit price: $510,000
Average weekly house rent: $750
Average weekly unit rent: $450
Each city has a suburb that’s home to its ‘establishment’. In Melbourne, it’s Toorak. In Sydney, it’s Bellevue Hill. In Brisbane, it’s definitely Hamilton – longstanding families in big and grand homes.
This hilly part of Brisbane was one of the first to be developed after European settlement back in the early decades of the 1800s. It was where aristocrats and clergy lived. An ‘old money’ vibe remains thanks to the plethora of historic homes that have been lovingly restored over generations.
It has a peaceful, safe and friendly vibe, making it an ideal place for families to raise kids and older households to spend their golden years.
Racecourse Road has long been the local glamour strip for upmarket shopping and dining, running down to Eagle Farm, the racetrack.
While it might be the grand old dame of Brisbane, the mammoth revitalisation of the riverside precinct in recent times has given Hamilton a fresh new vibe complete with high-end apartment towers, exceptional retail and dining, and stunning new parks.
CHANDLER
Median house price: $1.5 million
Median unit price: $510,000
Average weekly house rent: $750
Average weekly unit rent: $450
A little slice of country in the middle of the city – it’s no wonder the inner-southern suburb of Chandler is so popular.
The typical property here is a huge home on a couple of acres, with plenty of trees giving it a bush-like feel, which is equally popular with resident wildlife like kangaroos and koalas. To say it’s peaceful and secluded is an understatement.
Despite that, the city is just 20 minutes away by car and the Gateway Motorway is on the doorstep, so it’s an easy commute to the CBD and a convenient trek to the Sunshine Coast or Gold Coast on weekends.
Families tend to favour Chandler. Given it offers the best of both worlds – a quiet and safe lifestyle with everything you need a short distance away – it’s not hard to see why. Local schools are great and some of Brisbane’s best private schools are nearby.
ASCOT
Median house price: $1.48 million
Median unit price: $477,500
Average weekly house rent: $800
Average weekly unit rent: $410
Ascot is like Hamilton’s sibling, situated right next door, and they share more similarities than differences.
Perhaps the only thing distinguishing Ascot is it’s got a more tight-knit community vibe. It’s affluent and grand, but a bit friendlier and open. It’s also not quite as sprawling as Hamilton.
The homes are just as stunning and sought-after. You’ll find more Queenslanders than not, although there are some pretty incredible colonial-era estates locally. Most have been lovingly restored, but there’s still some left with potential to add new life with a considered renovation.
The lifestyle is just as premium at Hamilton, with some lovely cafes and stores, but the pace is definitely a bit slower. You won’t find quite as many services and amenities, but they’re right at your fingertips.
Ascot State School is one of the best in Brisbane, which is why this is such a popular area with families.
ST LUCIA
Median house price: $1.45 million
Median unit price: $520,000
Average weekly house rent: $555
Average weekly unit rent: $400
Only in Brisbane could young pub-hopping uni students mix happily with old money families and cashed-up upwardly mobile types.
At the center of this leafy and hilly suburb is the prestigious University of Queensland, a sandstone institution where tens of thousands of students pursue their academic dreams among beautiful surrounds and world-class facilities.
You’ll get all manner of housing – units to cater for renting students, both new and old, modern architectural wonders for young professionals and heritage homes for the more established locals.
In terms of facilities, you have everything you need in St Lucia – excellent dining, lots of retail, convenient public transport, good road links, a country club and golf course, sporting facilities and lovely parks.
PULLENVALE
Median house price: $1.35 million
Average weekly house rent: $990
How best to describe Pullenvale? Stunning homes on acreage in a one-of-a-kind rural setting that feels like it’s a million miles from civilisation but is 30 minutes from the city in a car.
But words don’t really do it justice. You’ve got to see it to believe the kind of lifestyle on offer in a major capital city. It’s something pretty special out here and as such, new sales listings can be rare and are always quickly snapped up.
Traffic can be hard to adjust to for new residents, with the commute to the western suburbs often a lengthy one in peak hour. Public transport is pretty much non-existent, so there isn’t really an alternative to jumping in the car.
There have been reported issues with mobile and internet reception in recent years, but there are efforts to improve reliability.
But those in search of beautiful homes in a stunning natural environment that’s safe, family friendly and relaxed will be right at home in Pullenvale.
Kenmore Shopping Village is close, and the vast Indooroopilly Shopping Centre is about 15 minutes down the road. There are also some great schools within easy reach too.
You’ll note there’s no median unit price or average weekly unit rent. Detached properties overwhelmingly make up the housing type here, with apartments an absolute rarity.
BULIMBA
Median house price: $1.3 million
Median unit price: $730,000
Average weekly house rent: $800
Average weekly unit rent: $510
If Ascot and Hamilton had a child and it moved across the river, you’d get the beautiful suburb of Bulimba. It’s one of the most desirable places in Brisbane to live.
There’s no shortage of spectacular homes, with the area’s oversized Queenslanders having been renovated and restored over the past few decades. A small development boom has also seen dated dwellings with no redeemable qualities knocked down to make way for boutique and high-end duplexes or tasteful unit complexes.
The village centre is the heart of the suburb, with bustling and tree-lined Oxford Street home to fabulous restaurants, trendy cafes and high-end boutiques. Bulimba Memorial Park is a beautiful place to relax, watch the kids play or catch up with friends.
Motorways are a few minutes away, providing convenient access to the north and south, as well as the CBD. Getting to the city by car can be a busy journey, given there’s no bridge crossing from this part of town, but the City Cat terminal at the end of Oxford Street offers a tranquil commute.
For young professionals and families who want a friendly place to live with everything you need in a beautiful bubble, but relatively good access to the city, this is the place to be.
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