Buy Brisbane property on a budget
Brisbane is a budget property buyers dream. If you’re looking to buy Brisbane property but don’t want to spend more than $400,000 we’ve got some ideas for you.
Some basic stats to reference when looking to buy Brisbane property
The below figures are from the March 2019 Real Estate Institute of Queensland’ Market Monitor Report:
- Greater Brisbane’s median house price was $550,000 in March 2019 (Greater Brisbane includes five Local Government Areas – Brisbane, Ipswich, Redland, Moreton Bay and Logan)
- Brisbane LGA’s median house price was $675,000 in March 2019
- Greater Brisbane’s median unit price was $385,000in March 2019
- Brisbane LGA’s median unit price was $440,000 in March 2019
Where to buy Brisbane property on a budget of $250,000 or less
Russell Island is located in Brisbane’s Redland bay area and houses on this small island can be bought from prices starting as low as $169,000. Of the 20 most recent house sales, 65% of them were sold for under $250,000. Russell Island has a number of amenities including medical services, local shopping centre, police and ambulance service, and ferries to the mainland.The ferry ride between the island the mainland takes approximately 15 minutes. It is then a 35 minute commute to Brisbane City or a 40 minute commute to the Gold Coast.
Russell Island
If you‘re looking for an apartment the suburb of Kooralbyn is a good spot to buy Brisbane property on a budget. There is a selection of properties to buy for around $200,000. The town consists of a shopping complex (with real estate, fuel, groceries and other conveniences), a hotel, an 18-hole golf course, polo fields, an airstrip, a light commercial area, mini golf, tennis, The Kooralbyn International School, and other facilities.
Where to buy Brisbane property on a budget of between $250,000 – $400,000
This price bracket provides greater choice and opportunity to buy Brisbane property. If you wish to buy a house suburbs like the below are a good place to starting looking as they are priced well and are conveniently located –
- Rocklea (within 10km of the Brisbane CBD, median house price $388,491);
- Inala (within18km of the Brisbane CBD, median house price $351,039);
- Ellen Grove (within 20km of the Brisbane CBD, median house price $319,053);
- Woodridge (within 22km of the Brisbane CBD, median house price $274,352)
The closest Brisbane suburb on the most affordable list is Rocklea. For home buyers wanting to stay as close as possible to Brisbane CBD at the lowest price, Rocklea is a great suburb to consider. Ex-housing commission suburbs like Ellen Grove and Inala also offer solid, affordable homes and can represent great buys for those on a budget who don’t want to move too far away from Brisbane City.
Annerley
If choice and opportunity increase in this price bracket to buy Brisbane houses, it’s even more so when buying Brisbane apartments. Topping the list of most affordable suburbs for units is Bracken Ridge ($315,000 median price) and Gordon Park ($338,000 median price). For slightly more money, the following suburbs are still budget friendly and represent great value when considering their proximity to the CBD –
- Fortitude Valley (within 1km of the Brisbane CBD, median unit price is $400,000)
- Spring Hill (within 2kms of the Brisbane CBD, median unit price is $400,000)
- Annerley (within 5kms of the Brisbane CBD, median unit price is $385,00)
- Clayfield (within 7km of the Brisbane CBD, median unit price is $370,000)
So how do you decide where to buy Brisbane property on a budget
Overall Brisbane offers a great array of choices to budget conscious buyers. Recent data shows that their are 75 suburbs with median house prices of $400,000 or less. Most of these are within the Logan, Ipswich and Moreton Bay council areas but there are also suburbs within close proximity to the Brisbane CBD in this bracket. Ultimately it is up to you to decide what is important to you in addition to your budget. Our top recommendations are to consider where you work and what length of commute you are happy to take, what lifestyle amenities you wish to have close by, as well as if you want to be close to your family and friends.
If you’d like help to buy and/or sell Brisbane property call our sales agents on 07 3233 3908.
Click here to view our current apartments and houses to buy in Brisbane
You can read our other Brisbane real estate articles on our blog
Sources:
www.realestate.com.au/neighbourhoods/
