Brisbane’s Top 5 Most Affluent Suburbs - 2020
With a rise in property demand all across Australia, Brisbane property prices alone are forecasted to grow 8% over the next 12 months alone. This is positively impacting some of Brisbane’s most expensive suburbs who are seeing a dramatic increase in median house/unit values that is only expected to continue growing in the next year.
As of 2020, Teneriffe is currently sitting as Brisbane’s most expensive suburb. With a median house price of $1,862,500 and unit price of $550,000, it isn’t too long before the median house price is expected to pass $2,000,000. This is a dramatic difference compared to Greater Brisbane’s median house price which is currently hovering at $577,664 (as of December 2019).
Not too far behind is Hamilton where houses alone have grown 9% over the last five years to a median value of $1,500,000 and units that are sitting on $495,000.
Like their riverside neighbours, New Farm (3rd) and Bulimba (5th) also join the list. New Farm with its mix of iconic Queenslands and Art-Deco units, sits just under Hamilton with a median house price of $1,437,500 and a strong unit value price of $537,500. Demand in New Farm alone is strong, with realestate.com.au recording 674 visits per property for listings in New Farm. This is an incredible difference compared to the Queensland average of 374. Bulimba houses are also seeing the same difference, with an average of 432 visits, way about the state average. With its close proximity to the city and quaint waterfront cottages, it is an ideal location for young professionals and families. Bulimba has a median house value of $1,350,000 and unit price of $572,500.
Sitting at fourth and not too far behind New Farm is Chandler with its leafy surrounds and large blocks. The median house price sits just over $1,400,000 with an average weekly rental income of $560 per week.
In reality, in-demand properties are selling a lot more than the median. For example some desirable three bedroom units have sold for $700,000 in the Hamilton region. Over $200,000 more than the median unit price. While these prices are only expected to grow, the good news is that compared to their Sydney and Melbourne counterparts, Brisbane is becoming Australia’s favourite destination for internal migration with great job opportunities, lifestyle, affordability and an improving economic future.
For more information on what your property could be worth or what we currently have available contact our sales team today and check out the following links - https://www.coronis.com.au/whats-my-property-worth https://www.coronis.com.au/contact/coronis-hamilton