Brisbane Real Estate
Brisbane real estate general overview
Brisbane is a city on a river, by the sea, with a mountain backdrop to the northwest and coastal farmland to the south, so no matter what your taste is in real estate, you'll be able to find what you're looking for.
As capital of the fastest growing and most liveable state in the country, Brisbane has the demand investors need to see excellent returns, and a climate which keeps smiles on residents faces all year round.
Read up on some general Brisbane real estate information and statistics, including a market outlook, median house prices and inner city developments below.
Brisbane House Prices & Market Outlook
A very competitive building sector and relatively low home and land prices mean that Brisbane real estate is much more affordable than Sydney and Melbourne, but just like the rest of Australia, the recent housing boom has sent Brisbane prices soaring, although the market has now settled right down. In fact, according to RP Data, Brisbane’s median house price dropped by 0.7% to $432,900 during the 2010 year.
After a particularly good year in 2013 where Brisbane’s median house price sat at an affordable $445,000, property prices are expected to grow in 2014. These prices are still significantly lower than Australia’s southern capital cities which is expected to attract a growing number of Sydney retirees heading north, as well as fly-in/fly-out workers.
As of January 2014 the Brisbane median house price had already risen to $470,000 and prices are expected to increase approximately 5 to 7 percent throughout the year.
This growth is great for investors, though it is making it difficult for low income first home buyers to break into the market. To help with this challenge the current first home buyer’s grant in Queensland is $15,000 for those purchasing a newly constructed home or property off the plan.
Approximate Brisbane House Prices (2013)
- Brisbane City Suburbs (Bowen Hills, CBD, Fortitude Valley, New Farm etc): $515,000
- Inner North Suburbs (Kelvin Grove, Ashgrove, Newmarket, Windsor, Enoggera etc): $550,000 - $680,000
- Inner East Suburbs (Morningside, Bulimba, Ascot, Clayfield, Cannon Park etc): $540,000 - $970,000
- Inner South Suburbs (Highgate Hill, West End, Kangaroo Point, Woolongabba, Camp Hill etc): $600,000 - $770,000
- Inner West Suburbs (Bardon, Paddington, Milton, Toowong, Auchenflower etc): $650,000 - $900,000
- Northern Suburbs (Gordon Park, Kedron, Aspley, Chermside, Bracken Ridge, Strathpine etc): $400,000 - $590,000
- North Eastern Suburbs (Rothwell, Redcliffe, Carseldine, Sandgate, Nudgee, Boondall etc): $335,000 - $525,000
- Eastern Suburbs (Alexandra Hills, Ormiston, Thornside, Capalaba, Tingalpa etc): $385,000 - $540,000
- South Eastern Suburbs (Burbank, Chandler, Mt Cotton, Rochedale, Belmont etc): $386,000 - $515,000
- Southern Suburbs (Nathan, Mt Gravatt, Holland Park, Coopers Plains, Inala, Archerfield etc): $276,000 - $515,000
- South Western Suburbs (Darra, Jindalee, Corinda, Goodna, Redbank, Mt Crosby etc): $250,000 - $517,000
- Western Suburbs (Indooroopilly, St Lucia, Kenmore, Moggill, Brookfield etc): $490,000 - $1,300,000
- North Western Suburbs (The Gap, Mitchelton, Keperra, Ferny Grove, Upper Kedron etc): $409,000 - $534,000
- Outer Northern Suburbs (Woodford, Burpengary, Morayfield, Caboolture etc): $306,000 - $490,000
- Outer North Eastern Suburbs (Beachmere, Sandstone Point, Ningi etc): $295,000 - $365,000
- Bayside Suburbs (Cleveland, Redland Bay, Victoria Point, Wynnum, Manly etc): $440,000 - $630,000
- Outer Western Suburbs (East Ipswich, Dinmore, Redbank Plains, Rosewood etc): $250,000 - $280,000
Brisbane Rental Market
Renters in Brisbane might find it tough in the coming months. At the moment CBD and inner city suburbs rental rates are approximately $430 - $520 per week for a 2 bedroom apartment however this is set to rise by around 5% this year. This is due to the reconstruction and rebuilding phase that the city is entering into due to the 2011 floods. The inner city areas will be particularly hit as the vacancy rate is already very tight. This will cause renters to start looking at properties further from the CBD and inner city. Although rental prices are set to rise they are still lower in comparison to Melbourne and Sydney.
Inner City Developments
The housing boom of the early 2000s saw a flurry of development activity in the Brisbane CBD. Dozens of apartment buildings were built, and many continue to be built on the back of the boom. The following apartment buildings are at completion and are located in the Brisbane CBD and inner city suburbs.
- River Place Apartments
- Q Resorts Willahra Tower
- Oaks Aurora Tower
- iStay River City Apartments
- Oaks Casino Towers
- Quest River Park Central
- Q Resorts Gabba Central
- Petrie Point Apartments
- Oaks Felix
- The Milton Apartments - FKP
More information about Brisbane real estate
- The Real Estate Institute of Queensland (REIQ) website has extensive property research
- The The Midwood Report is considered the Queensland property bible
While every attempt has been made to ensure the information on this page is as accurate as possible, it is intended as a guide only and should not be considered as a substitute for professional advice. No warranties are made about the accuracy of information and the publishers, e-CBD, accept no liability for any loss resulting from the use of this information.