Brisbane is a city of many areas. From the Inner City dense high-rise apartment landscape of Kangaroo Point to the boutique apartments in St Lucia to the newly gentrified lifestyle suburbs bursting with restaurants, entertainment and retail – Brisbane has a little bit of everything. Being such a large city with many suburbs it can be difficult to identify the best area to purchase in, especially on a budget. In this short report we will identify the top five suburbs to buy apartments in Brisbane’s Inner, Middle and Outer Rings for under $500,000.
BRISBANE’S INNER AND MIDDLE RING
In order to break this analysis down, we have investigated the apartment sales that occurred throughout Brisbane over the last 12 months (ending September 2019) and determined the percentage of sales that were under $500,000.
Looking at Brisbane’s Inner and Middle Ring, the top suburbs to purchase apartments for under $500,000 are Wooloowin, Greenslopes, Bowen Hills, Coorparoo and Nundah.
Wooloowin comes in at number one for Brisbane’s Inner and Middle Ring with a total of 14 apartment sales over the last 12 months, all under the sale price of $500,000. According to the Australian Bureau of Statistics (ABS), Wooloowin has a population of approximately 3,938 people with a median age of 33 years. The residential suburb of Wooloowin is located only 6km north of Brisbane’s CBD.
BRISBANE’S OUTER RING
Looking at Brisbane’s Outer Ring, the top suburbs to purchase apartments for under $500,000 are Woodridge, Strathpine, Rochedale South, Brendale and Doolandella.
Woodridge comes in at number one for Brisbane’s Outer Ring with a total of 63 apartment sales over the last 12 months, with 94% of these sales being under the sale price of $500,000. According to the ABS, Wooloowin has a population of approximately 12,579 people with a median age of 32 years.
summary
In this short report, we have looked at which suburbs offer the best opportunity to purchase an apartment for under $500,000. We broke this down even further analysing Brisbane’s Inner, Middle and Outer Rings. Wooloowin and Woodridge were identified as the best suburbs to purchase for under $500,000 based on the median sale price and percentage of sales that occurred over the last 12 months (ending September 2019) under the $500,000 price bracket.