- Brisbane offers affordable properties with a luxurious lifestyle
- The city's prime locations have options for various budgets
- Space is the main compromise for budget properties
Despite rising home prices in South East Queensland over the past few years, there are still a number of suburbs that offer “champagne property on a beer budget” according to the latest Herron Todd White (HTW) Month in Review.
Even though Brisbane is substantially more affordable than its southern counterparts, it doesn’t skimp on charm or convenience.
HTW Director David Notley said that it’s possible to find a property within a short commute of the Brisbane CBD that is priced well below Sydney’s median house price.
“There are obvious compromises most buyers need to make – things such as being restricted to units or buying property in need of renovation,” said Notley.
“Houses on smaller blocks or without views will come at a lower price too.
“Older construction tends to be appropriately priced in most instances as well.”
New Farm appeals
Notley said New Farm, an ultra-cool, regenerated urban hub of Brisbane, has now become one of the most sought-after addresses in the city.
“New Farm has all the good stuff – restaurants, bars, parks, riverfront… the list goes on. And all within 1.5 kilometres of the heart of the CBD.”
David Notley, HTW Director
“The most upwardly mobile young Brisbanites either live here or aspire to, although there’s plenty of old money in New Farm as well.”
A prime example is the unit at 12/769 Brunswick Street, a well-appointed but slightly dated two-bedroom, two-bath apartment with a large alfresco area.
He said priced around $700,000, it’s a realistic option for someone looking to enjoy the New Farm lifestyle without the million-dollar price tag.
Opportunities in Teneriffe
Notley said another affordable suburb is Teneriffe, home to some of Brisbane’s most sought-after properties. Despite its median house price of $3.05 million, there are still opportunities to be had.
He said a good example was a unit at 110/38 Helen Street, a comfortable two-bedroom, two-bath apartment that sold for $700,000, or the one-bedroom, one-bathroom unit at 304/38 Skyring Terrace, which sold for a reasonable $290,000.
Prestigious Hamilton
According to Notley, Hamilton is another suburb with prestigious property options.
He said while Hamilton’s elite is dominated by high-paid professionals and business magnates, affordable properties are available for those willing to compromise.
Units in Hamilton’s lifestyle facilities, such as Portside, offer attractive options for those on tighter budgets.
Popular Ascot
Finally, Ascot, located close to Hamilton and home to the Eagle Farm Racecourse, is popular with family buyers Notley said.
“Homes are a mix of contemporary and architectural design along with colonials and Queenslanders.”
“There’s plenty of units within the suburb’s boundaries too. This is the epitome of a leafy Brisbane suburb with the area being particularly popular with family buyers.
“There’s some very serious money spent on property in Ascot. A great example is the five-bed, six-bath, two-storey Tudor-style home at 42 Kitchener Road, Ascot set on 951 square metres of land.
“The property achieved a sale price of $6.5 million in November 2022.”
Range of options
Notley said that there are options for anyone looking to buy affordably in desirable Brisbane suburbs.
“The key is to seek great fundamentals.”
“Try to find good-sized houses in need of some minor renovation or on decent-sized allotments.
He said if an apartment is more indicative of your budget, look for something with good-sized rooms and a decent floor area.
“Lock-up car accommodation goes a long way too. Many units can be substantially improved via a simple renovation as well.”
“With units, keep away from small, generic, investor-style stock and instead consider perhaps older but well-appointed owner-occupier units.
“Position is always an essential ingredient.
“Continue to avoid things such as busy roads or uncomplimentary adjacent users such as petrol stations as much as possible.”
