Buyers searching for a bargain close to the city need to be looking in Brisbane’s south, according to new research released by RP Data.
House prices are on the rise in Australia’s capital cities and Brisbane is no exception to this, but that doesn’t mean there aren’t still cheap buys around.
After analysing house prices in each of Australia’s capital cities, RP Data has released the five cheapest suburbs within a 10 km radius of each city centre.
In Brisbane the southern suburbs fared best in terms of affordability for houses, with four out of the top five being in the south. The only exception was Keperra in the north.
Of the five cheapest suburbs for houses, Rocklea came out on top, with the average house setting buyers back $353,030.
The cheapest suburbs to purchase a unit in are more evenly spread across the city. Holland Park West leads the pack at $347,010 for a unit, followed closely by neighbouring suburbs Kedron and Gordon Park to the north of the city.
Tingalpa has proven to be an all-rounder when it comes to housing affordability, earning itself a place on the lists for cheapest houses and apartments.
One of the more interesting comparisons drawn from the data is the minimal difference between the price for a house in Rocklea and the price of a unit in Holland Park West – the cheapest suburbs for houses and units respectively. Buyers wishing to purchase a house over an apartment will only have to find an extra $6000 more to own a house in Rocklea, rather than an apartment in Holland Park.
Here’s the full list of Brisbane’s most affordable suburbs within 10 km of the city:
Five cheapest suburbs for houses
Rocklea – $353,030
Keperra – $439,015
Tingalpa – $478,686
Salisbury – $485,570
Nathan – $487,265
Five cheapest suburbs for units
Holland Park West – $347,010
Gordon Park – $347,497
Kedron – $347,712
Tingalpa – $348,072
Moorooka – $350,756
These figures are likely to come as a surprise to those who previously thought they couldn’t afford to live close to the city. Savvy buyers who take the time to research pockets of the city that still remain affordable could find themselves picking up a sound investment.