16 Brisbane suburbs that are cheaper now than 5 years ago


Brisbane’s property market had a bumper start to 2022, even while markets in Sydney and Melbourne were beginning to cool – and only now has price growth shown signs of slowing.

Thanks to historically low-interest rates, government incentives, pandemic-induced interstate migration, and historic levels of demand from buyers over the past two years, prices have surged across most of the country.

Data shows that Australia’s overall property prices beat records in the final quarter of 2021, with the national median house price surpassing $1 million for the first time.

That’s a 25.7% year-on-year surge in house prices and a 7.7% year-on-year increase for units.

For Brisbane, price growth shot up at the fastest rate of any capital city thanks to increased interstate migration and strong demand.

Herston Brisbane Suburb

Domain data shows that Melbourne’s median property price currently sits at $831,346 versus $629,499 just 12 months ago.

As you’d imagine, over the past five years, the price difference is even more pronounced.

And there are some Brisbane suburbs where price growth was particularly exceptional.

For example, Sunshine Beach in Noosa saw a whopping 191.67% increase in median prices over the past 5 years – the highest of any suburb across the country – to a new $3.5 million median.

The similarly named Sunrise Beach, also in Noosa, also had an impressive 138.1% increase to $1.75 million, from just $735,000 in 2017.

And it’s not just Noosa suburbs where prices have hiked – several suburbs in the Sunshine Coast and Gold Coast regions also saw bumper price increases.

Not every suburb follows the same trend

While Brisbane’s prices have trended higher there are some exceptions, even amid a property boom.

Data by Domain found that there is a raft of suburbs in Queensland where prices are actually cheaper now than what they were in 2017 – significantly less in some areas.

Interestingly, like in New South Wales and Victoria, all of the 16 suburbs are in Brisbane, and all are units.

But unlike in Victoria – where the affected suburbs are concentrated in the inner urban region of Melbourne – these Brisbane suburbs are spread throughout the city.

Leafy inner-city favourites like Windsor, Indooroopilly, Bulimba, and Wooloowin are all more affordable than they were in 2017, thanks to an oversupply of units that the city is well on its way to absorbing.

The median unit price in Windsor in Brisbane North is $430,000 today, which is 14.9% lower than in 2017.

Median unit prices in Beenleigh in Bayside South also fell 12.7% over the 5-year period to $240,000.

There were 6 suburbs in Brisbane West that made Domain’s list of Queensland suburbs where property prices are cheaper now than they were 5 years ago.

Such as Milton where median unit prices are $460,000, which is 9.8% lower than 5 years ago.

Then there is Spring Hill and Chermside in Brisbane North where median unit prices have fallen 6.4% and 5.6% over the 5-year period.


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