Brighter Buying

Market update: where to buy for under $500k

by Riley Munro, Property Consultant – Dan D’Silva Team 17 April 2024

Yes, you read the headline right. You can still buy for under $500,000 in Brisbane, but it is getting harder.

The greater Brisbane area has seen median home values push towards $800,000 this year and surpass Melbourne medians.

This price growth, coupled with interest rate and cost of living pressures, is making it harder for first time buyers to crack the property market.

But there are still pockets of bargain price points to be found – if you know where to look and have some flexibility with your property wish list.

Across Brisbane, if you’re looking for a bargain house, there are pockets of sub $500,000 suburbs in Ipswich, Moreton Bay and Macleay Island. For units, sub $500,000 median suburbs can also be found in Fortitude Valley and south of the river in suburbs like Acacia Ridge reports Australian Property Investor.

But depending on your desired property type, you may have many more neighbourhoods available within your price range. Two-bedroom units for under half a million can still be found dotted across northside middle ring hubs including Chermside, Nundah and Zillmere to name a few.

Further north through Strathpine to North Lakes and out to Narangba, you can occasionally find more bedrooms for around the half a million mark, or newer builds. Further out to Morayfield or Caboolture, you can open up to some more spacious property types but it is getting harder to find a standalone home under a half a million.

For help with your property aspirations, talk to local agents to learn more about local markets, get advice from an independent mortgage broker and check out government support to buy a home.

Ready to buy? View our current listings for sale.