Brisbane’s Top Five Suburbs Reveal Shock Change in Top Addresses
- Written by iVillage
There’s been a global property shakeup, and Queensland is no different. Brisbane has been red hot and can now boast 18 suburbs with median home prices that exceed $2m, and five clearing $3m.
The area looks wealthier than ever, according to realestate.com.au reporting, but the new top five areas may just shock you! Let’s count them down.
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Ascot
Historically, Ascot was the Rolls-Royce of Brisbane suburbs, and now it’s barely in the top five with a median house price of $3m.
4. New Farm
This should come as no surprise. New Farm has long been a favourite spot thanks to its desirable inner-city riverside location. It’s firmly in fourth place with a median house price of $3m.
3. Burbank
Burbank may shock you because so many people have never even heard of this little gem. Located on the outer ring of bushland, bordering Brisbane, Logan and Redlands shires, the median home comes in at $3.37m.
2. Chandler
Another shocking entry in Brisbane’s top five, Chandler is an acreage oasis! Just 16 kilometres from the CBD, it’s home to an advanced sports complex with big hosting plans for the upcoming 2032 Olympics. Today, the median house price weighs in at $3.4m.
1. Tenerife
The number one suburb should come as no surprise; Tenerife has long been one of Brisbane’s hot spots and currently boasts a median house price of $3.5m.
So, what’s driving this change?
High-earning (or net worth) buyers aren’t fighting over the riverfront blocks in the inner city; they’ve spread out to look at acreage estates, and with suburbs like Chandler and Burbank providing sprawling land with a luxury footprint, buyers are snapping those up when they can’t quite stretch to New Farm of Tenerife. That change has propelled these smaller rarely heard of suburbs into the top five easily.
Purchasing a high-value property in a desirable area doesn’t guarantee a good buy. With the real estate boom across Brisbane, some sellers are turning to deception to cover up property flaws, so don’t assume the high price tag is a guarantee of high-quality construction.
Sprawling acreage estates are a particular problem when it comes to unapproved structures, drainage problems, slapdash DIY renovations, and pest damage. A building inspector looks beyond a fresh coat of paint to identify expensive problems and prevent costly mistakes. Get to know the High Risk Brisbane Suburbs to get a better idea of the potential risks.
Call a Professional
It doesn’t matter how fancy your address is, whether you’re in one of the top five suburbs or elsewhere, you can’t trust a glossy marketing brochure. Enlist the services of a reputable building inspector to protect your investment. Learn More Here
