It’s nice to enjoy that rich feeling when a valuation comes back better than expected!
But who is considered rich by Brisbane standards? The Daily Mail has published a report describing a “high-tier property” as one that is in the top 25 per cent – or top quartile – of house prices.
In Brisbane, your home sits in the top quartile if it is valued above $834,350. This figure had climbed 3.9 per cent in the three months to February.
In our northern suburbs this kind of budget will get you a plush pad in Bridgeman Downs or a quality Queenslander in Shorncliffe. You could stretch to a tree change on the northern suburb outskirts or snare a luxury riverfront unit at Hamilton.
Looking across Australia’s capital cities, Brissie offers quite the luxury lifestyle for a comparatively affordable price tag.
The national benchmark for a top-quartile home is $1.2 million. Not surprisingly Sydney ($1.7 million) and Melbourne ($1.25 million) are driving up the national average.
Canberra also boasts some pricey property with its top 25 per cent of dwellings priced upwards of $1 million. That’s a big price to pay to live in a place built to house politicians!
Darwin is home to the cheapest rich-list homes, with a top quartile value starting at just over $600,000.
Check out the full price that qualifies you as a rich-lister in Australia’s capital cities based on CoreLogic data from February 2021:
- Sydney: $1,715,901
- Melbourne: $1,251,377
- Canberra: $1,004,452
- Brisbane: $834,350
- Perth: $803,876
- Hobart: $783,128
- Adelaide: $724,018
- Darwin: $612,574