Fortitude Valley: Among the Most Affordable Suburbs Close to the CBD

Photo Credit: Kgbo [CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)] / Wikimedia Commons

Buying a property close to the CBD need not cost an arm and a leg. In fact, you can get as close as two kilometres from the city, such as the suburb of Fortitude Valley, and find an affordable unit to buy, according to the latest report from Domain.

Just about 1.8 kilometres from the city, Fortitude Valley offers some of the most affordable units with a median unit sale price of $391,000, the Domain report said. Fortitude Valley has seen its unit median prices dropping by 7.5 percent from $432,500 in 2016 to $400,000 as at 31 December 2018, according to realestate.com.au.

Also, latest data from realestate.com.au, shows that the median price for units in Fortitude Valley from 1 Mar 2018 – 1 Mar 2019 is $400,000. Renting makes up the majority of property ownership in Fortitude Valley, about 73%; the median unit rental price per week is $420, Domain suburb profile said.

Among the most affordable suburbs within the 10 kilometres radius from the CBD, Keperra offers the most affordable house with median price of $541,500 whilst Milton offers has the lowest-priced units with a median price of $363,750, according to Domain Group’s list of affordable suburbs by proximity to the city.

Affordable Suburbs Under 10 Kilometres from Brisbane CBD

Suburb for UnitsMedian Sale Price
Milton$363,750
Moorooka$367,500
Clayfield$382,500
Everton Park$390,000
Fortitude Valley$391,000
Suburb for HousesMedian Sale Price
Keperra$541,500
Chermside$580,000
Everton Park$590,000
Chermside West$591,000
Stafford Heights$602,500

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Zillmere, with a median unit price of $340,000, is the most affordable suburb within 10- 20 kilometres from CBD and is also close to Westfield Chermside. Inala, on the other hand has the lowest median house price at $365,000.

Affordable Suburbs 10 – 20 Kilometres from Brisbane CBD

Suburb for UnitsMedian Sale Price
Zillmere$340,000
Runcorn$365,000
Richlands$370,000
Calamvale$380,000
Eight Mile Plains$382,000
Suburb for HousesMedian Sale Price
Inala$365,500
Acacia Ridge$400,000
Durack$411,000
Strathpine$438,750
Thorneside$445,000

Photo Credit: Kgbo [CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)] / Wikimedia Commons

The most affordable for houses within 20-30 kilometre radius is Kingston with a median house price of $325,000 whilst Kallangur offers the lowest median unit price  at $292,000.

Affordable Suburbs 20 – 30 Kilometres from Brisbane CBD

Suburb for UnitsMedian Sale Price
Kallangur$292,000
Dakabin$365,000
Griffin$377,500
Mango Hill$383,500
Redcliffe$387,500
Suburb for HousesMedian Sale Price
Kingston$325,000
Bundamba$331,000
Goodna$337,000
Redbank Plains$338,500
Bethania$344,000

Looking beyond the 30 kilometres radius, there are still affordable suburbs you can find yet still are relatively close to the city such as Eagleby with a median unit price of $252,000. Raceview will also not disappoint buyers hunting for bargain houses with its median house price of $338,000.

Affordable Suburbs 30 – 40 Kilometres from Brisbane CBD

Suburb for UnitsMedian Sale Price
Eagleby$252,000
Deception Bay$260,000
Morayfield$325,000
Redland Bay$448,500
Scarborough$495,000
Suburb for HousesMedian Sale Price
Raceview$338,000
Brassall$347,250
Beenleigh$350,000
Yamanto$359,000
Morayfield$359,900

Analysts believe that now is a good time to buy in these bargain suburbs closest to the CBD, considering that these areas are already primed for growth, however, recovery on units market may take some time since units are not considered as primary choice among buyers.