Like most Australian cities, Brisbane offers a variety of residential suburbs from high-density inner-city areas to spacious outer-suburban locations. Brisbane’s inner ring contains the majority of Brisbane’s prestigious residential real estate, however, the middle and outer rings have proven to boast their own blue chip suburbs with luxury living. The luxury market has undoubtedly been the standout performer in Brisbane the past 12 months – leading the way for market growth in 2018
Place Advisory has analysed the data of Brisbane’s inner, middle and outer rings and uncovered the most prestigious suburbs of Brisbane. Below is a summary for each of Brisbane’s three rings.
The table above summarises the top five most prestigious suburbs in Brisbane’s inner ring for the 12 months ending September 2017. Please note, suburbs with only five or less sales were excluded.
Houses in Teneriffe are officially the most expensive in Brisbane with a median house price of $2,550,000. Median prices in the suburb increased by approximately 31% year on year on the back on 19 house sales during the 12 month period ending September 2017. Teneriffe also recorded the most expensive houses in the reports last edition, being supported by its strong fundamentals including its desirable waterfront location and proximity to the Brisbane CBD.
In regards to apartments, Bulimba has taken out top spot as home of the most prestigious inner-city apartments. Apartments here have not achieved the capital growth seen in the corresponding housing market, recording a decline of 3.6%, however, with a beautiful riverside location and a vibrant atmosphere, Bulimba is sure to experience improved performance in the future.
The table above summarises the top five most prestigious suburbs in Brisbane’s middle ring for the 12 months ending September 2017. Please note, suburbs with only five or less sales were excluded.
Once again, Ascot, in Brisbane’s middle ring, has taken out the spot for most prestigious houses in the region with a median price of $1,500,000. This comes as no surprise given the suburbs easy access to the CBD and excellent local amenity. Over the past 12 months ending September 2017, median prices in the suburb have experience approximately 10% growth and strong sales numbers with 79 houses being sold.
Tennyson Apartments were the most expensive in Brisbane’s middle ring with a median price of $1,127,500, up 121% compared to twelve months prior. However, this is largely due to the majority of apartment sales for the period being in luxury riverfront locations along King Arthur Terrace, and median prices are expected to return to more representative levels of the entire suburb in the future. In second place was the peaceful suburb of Bardon, which recorded a median apartment price of $603,000. However, apartments here have struggled in recent times recording a decline of almost 14% compared to the same period 12 months prior.
The table above summarises the top five most prestigious suburbs in Brisbane’s outer ring for the 12 months ending September 2017. Please note, suburbs with only five or less sales were excluded.
In Brisbane’s outer ring, there exist luxurious mansions on large parcels of land that cannot be found closer in towards the CBD. Burbank in Brisbane’s south east was the most prestigious suburb at the end of the 12 month period ending September 2017, with an impressive median house price of $1,400,000. Kenmore, located along the Brisbane River to the south west of the CBD, boasts the most expensive apartments, recording a median price of $650,000. Median prices of apartments in Kenmore have increased by 1% over the past 12 months with 29 apartment sales having been recorded during that time.