Are you currently trying to buy a house from Brisbane?
In the last 12 months, the Brisbane housing market has absolutely exploded with property values increasing by more than 26%. Brisbane has also had the second strongest performing property market out of all Australia’s capital cities in 2021.
Westpac Bank believes that Brisbane house prices will continue to rise over the next two years so your best bet is to get in now and create a home that will give you considerable returns.
By renovating a cheaper property or buying some land and building a custom built home in a more affordable suburb, you’ll be able to buy into a great investment.
In today’s blog, we discuss the best suburbs in Brisbane to buy right now based on projected growth and affordability.
Affordability
If you just want to get your foot in the door of the Brisbane housing market, there are still suburbs of Brisbane where the median house value is below $550k.
The cheapest suburb in Brisbane at the moment appears to be Acacia Ridge, located 13km from CBD, where the median house price is $469,508. The suburb has seen a 4% rise in house prices in the last 12 months.
Saving money on purchasing the house means you’ll have more aside for a renovation to transform it into everything you want in a home.
As for the demographics of the suburb, Acacia Ridge boasts a very young population. The average age is 20-39 years old and 61% of residents are single/not living in a family home.
Don’t think that just because you’re saving money that you’re compromising on other things. There are two primary schools in the catchment area and four independent schools too. You’re also only 2 suburbs (less than 20 mins) away from Garden City Westfield and Princess Alexandra Hospital is a reasonable half an hour drive away too.
Buying in this suburb means you can get a house for an affordable price, invest a bit more to renovate it to the home of your dreams and watch it’s value skyrocket!
Projected Growth
If your number one priority when buying a property is potential earnings from selling in the future, we have the perfect suburb for you. Buyer, meet Keperra.
Let’s run through the numbers first because we know that’s what you’re interested in.
Median 3 bedroom house price: $607,000
Year-on-year change in the median sale price: 21.6%
Pretty impressive right?
What is even more enticing, the median house for properties is still considerably lower than most suburbs within Brisbane, meaning you’ll have money aside to increase your investment with a renovation or extension.
Keperra is hardly far away from the city with residents only needing to travel 9kms to reach the CBD and it features a well serviced train station.
With such a great location and affordable housing prices, this is an investment that you don’t want to miss out on.
Looking To Renovate Your Purchase Or Build A Custom New Home?
At JM Homes, we ensure we always take the time to listen, communicate and act with our clients interests at heart at every stage of the build. At the end of the day, we are delivering your dream house and we want you to love it, regardless of the suburb.
If you have a renovation or building project in mind, we’re Brisbane’s building experts. Whether it’s a Queenslander, new build, house raise or extension, we can help you.
Contact us today.