Brighter Buying

Market update: Where to find bargain buys in booming Brissie

by Richard Parker, Sales Manager 27 June 2024

Brisbane home values are continuing to boom, clocking up growth that’s amongst the fastest in Australia.

In the three months to April prices grew 3.1 per cent and they’ve skyrocketed 16.1 per cent in the past year, reports Herron Todd White.

This places the median dwelling price around $830,000, meaning the house price median would sit somewhere above this, and the unit price medium would sit below.

But where can house hunters find a bargain buy for well under this price point?

Head north and keep tracking along the train line to find a great value corridor, stretching from Zillmere towards the bayside and from Bald Hills towards Petrie.

Strathpine and Lawton can offer some particularly good value buying.

“The average detached home here sells for between $700,000 and $850,000, while townhouses and other attached product achieve $450,000 to $550,000 at sale,” the latest Herron Todd White Month in Review reports.

“The overall Brisbane median price of $850,000 to $900,000 would obviously secure a comprehensive home in these suburbs.”

But in any good value location, be prepared for competition. This means doing your homework so you can confidently make an offer when you find something you like.

“These suburbs are driven by first homebuyers and investors (predominantly local) so competition is fierce – particularly because of the tight rental market (is) pushing tenants towards purchasing an affordable home.”

Looking for some local knowledge to help make your move? Contact us for a chat about anything real estate.