Brisbane’s six cheapest suburbs within a 10km radius of the CBD

If it feels like it’s getting harder to break into the Brisbane property market, it’s because: The median property price in Brisbane is rising, bouncing back to $ 714,500 in September.

The latest reports suggest that prices will continue to rise through 2021 and continue their major post-pandemic due to record-breaking interstate migration and a glowing prestige market.

Finding affordable property that is still in close proximity to the business district quickly becomes a daunting task. However, analysis of the domain data revealed several suburbs in the city, all of which are within 10 kilometers of the business district and are still within reach whether you are buying a home or a unit.

Top of the list of the cheapest Brisbane suburbs for homes within 6 miles of the business district is Tingalpa in the Eastern Suburbs.

Cheapest suburbs for homes within 10km of the business district

On site Median Year-on-year growth
Tingalpa $ 535,000 2.9% 10
Keperra $ 560,000 4.7% 10
Everton Hills $ 590,000 3.0% 10
Salisbury $ 610,000 1.0% 9
Carina $ 620,000 -1.6% 8th
Everton Park $ 620,000 6.0% 9
Source: Domain House Price Report, September quarter

Tingalpa is approximately 6 miles from the business district and has easy access to local shops, Westfield Carindale, the Gateway Motorway and the M1, as well as the city center along Wynnum Road. There are several parks in the suburb, including the popular Minnippi Parklands, a huge green space that spans several neighboring suburbs and features a lagoon, playgrounds, and walking trails.

Lisa Martinez of ReMax Advantage said Tingalpa, despite its proximity to the business district and great local amenities and schools, has remained affordable, largely because it is still a suburb most people have never heard of.

“Tingalpa is definitely flying under the radar. I’ve had a number of clients who have never heard of this and I always tell them they are getting more for their money [there], more house for your money, “she said.

Ms. Martinez said renters from Morningside and Cannon Hill – just a suburb and two closer to the business district – who couldn’t afford to buy homes there often came across Tingalpa.

“For the suburb median [of $535,000] You can get a three bedroom brick house, ”she said.

Tingalpa Elementary School has helped attract more buyers to the suburb. Photo: Glenn Hunt

“I also find many buyers in this area inquire about the reputation of the local state school that has a French program.”

Even in east Brisbane and just five miles from the business district, Carina’s median home price of $ 620,000 is still affordable.

Patrick Ivey of Harcourts Property Center said Carina has always been a daughter suburb of its better known neighbors Carindale and Camp Hill.

“Buyers often forget Carina. You might miss it at first, but then you see these post-war houses on large blocks, ”he said.

1 Ramsden Street, Carina QLD 4152

1 Ramsden Street, Carina QLD 4152

“It was a forgotten, sleepy suburb, but not so much – it’s growing in popularity and people are starting to spend a lot of money turning the post-war era into massive houses.”

Mr. Ivey recently sold 1 Ramsden Street, Carina, to an invisible buyer in Sydney for $ 690,000: “He was told Carina was a good buy. He has yet to see it, but he will knock it down, ”he said.

For units, the cheapest suburbs are even closer to the CBD. Some of them, like Clayfield, are more known for their record-breaking trophy sales than for their affordability. However, the data showed that for a home price of $ 1.12 million, Clayfield’s median is less than a third of the price of $ 360,000.

Cheapest suburbs for units within 10 kilometers of the business district

On site Median Year-on-year growth
Greenslopes $ 347,125 -18.7% 5
Clayfield $ 360,000 -0.3% 6
Stafford $ 366,000 -8.5% 7th
Chermside $ 375,000 -8.6% 9
Kast $ 390,000 -1.3% 8th
Bowen Hills $ 396,750 9.4% 3
Source: Domain House Price Report, September quarter

Coronis Coorparoo’s Corey Biles said units in these suburbs, which are often older and in need of work, but have larger floor space than more modern homes, are a good buy.

Greenslopes, the cheapest suburb to purchase a unit within 10 kilometers of the business district, has an average unit price of just $ 347,125.

Mr. Biles is currently marketing a two bedroom unit on Drummond Street in Greenslopes, where the owner is hoping for $ 330,000 to $ 350,000.

“Greenslopes is an amazing suburb. It is only three miles away and to the PA Hospital and Greenslopes Private [Hospital] very close, as well as the motorway connection to the city, ”he said.

“Why is it still so affordable? I think the more recent developments that have been ramping up in neighboring Coorparoo in recent years have led buyers to prefer these, and Greenslopes also had some new developments that buyers would rather spend a little more on.

3/8 Drummond Street, Greenslopes QLD 4120

3/8 Drummond Street, Greenslopes QLD 4120

“However, there is potential in the older units to add value.”

Other affordable suburbs included Stafford, Chermside, and Nundah on the north side of Brisbane, while Bowen Hills was closest to the CBD with a median of $ 396,750 – it’s just two miles from the city center.