Guest The Pom Queen Posted September 16, 2017 Share Posted September 16, 2017 While Sydney and Melbourne first-home buyers are struggling with million-dollar mortgages, new research can reveal that in Brisbane you need as little as $300,000 to get on the housing ladder. The latest data compiled by Domain shows every single one of the top 10 most affordable suburbs within the Brisbane local government area (LGA) have a median house price under $450,000. Buying a house in Brisbane’s cheapest suburb, Ellen Grove, will set you back less than $300,000. Ex-housing commission suburbs like Ellen Grove and Inala offer solid, affordable homes. Photo: Supplied In fact, 92 suburbs in the Greater Brisbane area (which includes Ipswich, Moreton Bay, Redland and Logan) have a median below $400,000. Property expert and co-founder of Binvested.com.au Nathan Birch says the “national housing affordability crisis” simply does not apply to Brisbane. “If anyone ever asks me where they should buy, I tell them Brisbane. It is so ridiculously affordable – we’re talking about the third-largest capital city in Australia,” he says. This renovated three-bedder at 8 Dresden Street, Bald Hills, has a price guide of $390,000 to $430,000. Photo: Supplied “Prices have been so steady in recent years and it hasn’t had the boom it deserves, aside from a few suburbs or pockets that have been the exception. “Overall it’s been so quiet but I would say this: If anyone feels that prices in Brisbane are expensive, let’s talk again in two to four years’ time, because I predict they won’t stay this way for long.” Brisbane’s cheapest suburb is Ellen Grove, approximately 20 kilometres south-west of the CBD. Ray White Forest Lake agent Thanh Ngo says he regularly gets first-home buyers and investors new to the area who are stunned at the prices. “People come out to this area specifically because of affordability but I do think some of these suburbs still fly under the radar,” he says. “Ellen Grove is still fairly new and unknown as a suburb so the majority of homes here still sell under $300,000.” And while the houses in Ellen Grove are cheap, they don’t hang around for long, Mr Ngo says. “Days on market in this area, you’re looking at about two weeks only. They get snapped up very quickly because of the price.” It’s expected Ellen Grove will crack the $300,000 median within the next 12 months though – Mr Ngo says prices are steadily climbing, citing a recent record-breaking sale at 2 Kathmaur Street: it went for a whopping $330,000. Neighbouring suburbs like Forest Lake and Inala are more expensive than Ellen Grove, with median house prices of $435,000 and $358,000 respectively – Mr Ngo says they’re well established communities with excellent amenities like shops and schools. “I’d say 85 per cent of my buyers in Inala are Vietnamese, there’s such strong community there like the Chinese have in Sunnybank, so it’s sought after,” he says. “That said, these areas are still great value considering you’re getting solid houses on large blocks of land.” In Bald Hills, the northern-most suburb of Brisbane, the median price is $442,500. McGrath Paddington agent Canda Reynolds is marketing a renovated three-bedroom, one-bathroom home in Dresden Street and says she was shocked at the value in the area. “Obviously I mainly sell in and around Paddington so to go out to Bald Hills and see that you can still get a lovely renovated home in a quiet street close to great amenities is amazing,” she says. “It’s certainly value for money and first-home buyers who are already searching here realise that. What’s incredible in Brisbane is you don’t have to buy something run-down on a major road to find an affordable home.” The closest Brisbane suburb on the most affordable list is Rocklea. Only 9 kilometres from the CBD, the median house price there is $405,000. Topping the list of most affordable suburbs for units is Bracken Ridgeand Gordon Park, both with medians of $320,000. Fortitude Valley and Clayfield are also affordable for units, with median prices of $331,000 and $347,000 respectively. “The fact you can buy so close to the CBD for these prices in Australia’s third-largest capital city is amazing. First-home buyers should be thinking hard about their options,” Mr Birch says. Quote Link to comment Share on other sites More sharing options...
davlap Posted September 17, 2017 Share Posted September 17, 2017 Does anybody want to live in those suburbs though? I know there are lots of threads about where to live, but any info on the most affordable nice places to live ? We moved up from Melbourne and house affordability means we are looking to buy, but have no idea where as I have been on my on in the CBD for 6 months. Redcliff, or along that coast generally seems affordable. OH works North side, I work Toowong and don't want the commute. So totally undecided on location. Quote Link to comment Share on other sites More sharing options...
Guest241083 Posted September 17, 2017 Share Posted September 17, 2017 .........you have to visit the suburbs ime ........there are good and bad bits to many ........realestate.com will show you the houses available ... ..........then look into the area...google earth .........there are a few suburb reviews on here ......good luck! 1 Quote Link to comment Share on other sites More sharing options...
calNgary Posted September 17, 2017 Share Posted September 17, 2017 2 hours ago, davlap said: Does anybody want to live in those suburbs though? I know there are lots of threads about where to live, but any info on the most affordable nice places to live ? We moved up from Melbourne and house affordability means we are looking to buy, but have no idea where as I have been on my on in the CBD for 6 months. Redcliff, or along that coast generally seems affordable. OH works North side, I work Toowong and don't want the commute. So totally undecided on location. Plenty of people wnt and do live in these suburbs but you need to look for yourself as Tink mentioned. As a quick ezample, a young couple working inner city with no kids might think an apartment in the valley is ideal for them, whilst if a family they may prefer subrbs like Bracken Ridge with a house and garden. The only way to find a suburb to suit you is to drive, drive and drive some more checking them all out. Head in a different direction every weekend and explore. Cal x 1 Quote Link to comment Share on other sites More sharing options...
davlap Posted September 17, 2017 Share Posted September 17, 2017 Thanks for the replies. I see these kinds of questions all the time and wonder why people ask them because its very personal and like you say, based on your own needs, likes and interests. Its just we have a very wide area for choice and just need a starting point i guess. Mature age, older son living with us. Close to transport, shops, away from too much concrete but easy access to the city. I work north Toowong and lived in Bardon for a while, ticks most boxes except easy transport. But too expensive of course. I would like a bigger plot, so realise we have to go further out, but have no idea about many of the outlying suburbs. I was thinking of talking to a buyers agent with our list and see what they can come up with. Basically had a life of researching things and making decisions and just got bored with it. I think coming to Oz and all that took to decide and organise did me in. We didn't buy in Melbourne and really should have. Don't want to be thinking the same in 5 years time 1 Quote Link to comment Share on other sites More sharing options...
Guest241083 Posted September 17, 2017 Share Posted September 17, 2017 ........you could look at the TransLink website .........see the areas from work out that it services .........and many property agents will help if you give them your wish list .........buy again without visiting it's hard to know if you like the feel of an area Quote Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted September 17, 2017 Share Posted September 17, 2017 Like Cal said a lot of first time home buyers do move in to these areas because that is all they can afford, slowly they take over and the suburbs change, usually for the better. We aren't city people, hate the city but needed to be near the hospitals we chose the Lockyer Valley, you can get acreage and a new build for $300k. It takes us an hour and ten to get to Greenslopes, an hour and twenty to the airport. There are closer areas. Your budget will be the main player. I have a great guy who may be able to help. He was actually our builder in Townsville, we both moved down here at the same time and he has gone in to realestate. Personally I think he is too nice for the realestate business but having him on board may help in two ways, obviously finding you an area/property but he can also give you feedback on the structural soundness of the property. If you want his info send me a pm and I will pass it on. Quote Link to comment Share on other sites More sharing options...
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