What the experts say: Where to buy a home in Brisbane in 2023
It has been a rollercoaster ride for Queensland buyers and sellers over the past few years, with soaring sales highs during the pandemic property boom to daunting lows as interest rates were swiftly ratcheted up and borrowing powers crashed.
But while the red hot heat has come out of the market, buyers now have an opportunity to find a home without the FOMO and stiff competition.
Sellers are also meeting the changing market.
So we asked some of Queensland’s property titans to reveal their suburb picks for 2023, for first home buyers, families and those with deeper pockets.
Here, Ray White Qld CEO Jason Andrew (JA), Belle Property Qld boss Jon Iceton (JI), LJ Hooker Qld general manager Stephen Mutton (SM), McGrath National Manager (Sales) Troy Malcolm, Harcourts CEO Mitch Peereboom and Place managing director Sarah Hackett (SM) share their insider knowledge on the suburbs to watch.
FIRST HOME BUYERS – UNDER $750,000
This price point has been increased from under $500,000 since before the boom, such has been the rapid rise of values across Brisbane. But it has gotten even tougher for first home buyers this year, with the pool of suburbs under $750,000 shrinking from 289 in January 2022 to just 160 now.
Kallangur. The Moreton Bay region is well-serviced with infrastructure now including the rail link, Sunshine Coast University campus and the arrival of the Dolphins in the NRL will further create a sense of community. (SM)
Redcliffe Peninsula. With plenty of parks, stunning pine-tree-lined beachfronts, jetties and marinas alongside locally-owned restaurants and boutiques, this area offers a lifestyle all its own. Redcliffe Peninsula encompasses eight small suburbs: Rothwell, Kippa-Ring, Newport, Scarborough, Redcliffe, Margate, Woody Point and Clontarf. It’s great for first home buyers. (JA)
Albany Creek. Just 14Kms northwest of the CBD, it is ideal for families with a median sale price of $900,000 but there is some great buying that can still be found in and around $750,000 for those looking to buy in an in demand suburb. Post war renovators and larger blocks still available. A great destination for the growing family. (JI)
Strathpine. Leafy with great amenities and public transport. (SH)
Ferny Hills. Ferny Hills will be transformed by the new Ferny Grove Central village and train station. It’s clean and green and only 16 kilometres from the CBD. (TM)
Strathpine. Strathpine’s median sale price is yet to catch up to extremely similar suburbs on the northside and with the development through this region it seems great value. (MP)
Daisy Hill. Close to Springwood’s commercial hub and good access to the arterial roads of Logan Motorway and the M1. It’s a more affordable option to neighbouring Shailer Park. (SM)
Salisbury. This is a beautiful Brisbane southside suburb. Salisbury is a surprisingly green, nature-driven suburb idyllic for first home buyers. It’s popular with singles and families who don’t want to live too close to the hustle and bustle. Just a 20-30 minute commute to the city. (JA)
Springwood. Although technically not in the Brisbane city council, this clean and family spirited location is just one suburb out. Within easy reach of the city and the motorway south, with great public and private schooling, ample shopping venues and cafes plus sporting clubs, this suburb is exceptional value for the first homebuyer families. (JI)
Daisy Hill. Affordable with quiet neighbourhoods and great access to major shopping centres and public transport. (SH)
Runcorn. Runcorn is great value compared to Sunnybank Hills and Stretton. It has easy access to transport and the freeway, QEII Hospital and Griffith University. (TM)
Marsden. Marsden has been a serious market mover over the past year with its excellent schools and development continuing in surrounding suburbs it still looks like a winner. (MP)
Capalaba. You can still find three-bedroom homes in this price bracket. Redlands City Council and the Queensland Government have signed-off on a major rejuvenation program for the suburb which will increase mixed-use development through the area. (SM)
Capalaba. Capalaba is a popular suburb in Redland’s coast featuring major business and retail centres, as well as a host of recreational, cultural and community facilities. There’s some great rural, rural-residential and bushland areas to its south. (JA)
Tingalpa. This suburb still has some older designed homes from around the post war period. Weather board and chamferboard cottages. Easy access to the rail running to the city and then out to the bay. Recently report annual capital growth for this suburb of 29.52% (JI)
Wynnum West. Coastal, clean, and green with a variety of parks and shops. (SH)
Murrarie. Murrarie neighbours the more affluent suburbs of Bulimba and Hawthorne and it’s close to the CBD, Gateway Motorway and airport. (TM)
Springfield. The second largest master planned Australian city in history. Plenty of facilities are on offer for residents and are constantly being added to. Approximately 30 minutes to Brisbane CBD and 50 Mins to the Gold Coast. (SM)
Karana Downs. KD as the locals call it has the best of both worlds. There is peace and quiet because it is protected by the Brisbane River but just a few minutes away across the bridge is a booming shopping centre which has all you need. A little shopping village supplies the basics if you want to shop inside the suburb. (JA)
Ferny Grove. Just 15 km northwest of the CBD, this modern suburb is nestled in-between Upper Kedron and Keperra and has easy access to local creeks, bush land and wildlife areas that add to the attraction of this family orientated suburb. (JI)
Bellbowrie. Affordable homes in a community-oriented area and under 20 km to the CBD. (SH)
Springfield. Springfield has an excellent rail system, quick motorway access, the new Lions Stadium, Mater Hospital and great schools, parks, retail and dining. (TM)
Darra. Darra represents fantastic value as it neighbours suburbs that are significantly more expensive and it close to the highway. (MP)
FAMILIES – $750,000 to $1.5 million
Buyers within this price range now have 211 suburbs with median house prices within their reach. That’s 100 more than in January last year, proving just how many new suburbs have tipped into higher brackets.
Wavell Heights. Large blocks, many of which have views to the city. Predominantly post-war homes with no character control, allowing owners to build their dream homes in a suburb that has the retail hub of Chermside close by. (SM)
Albion. This is a hidden pocket of inner north Brisbane. These days it’s got a warehouse bar, distillery, a cake boutique, funky cafes, farmers market, a mammoth rum bar, Chinese temple and even a restaurant with secret butcher shop entrance. Well worth a look. (JA)
Sandgate. Just 19km from Brisbane city central, this bayside suburb is filled with renovated character homes on the arch of Moreton Bay. Well known for its great schooling, parks and recreation areas. Sandgate has a high owner occupancy with over 38 per cent of locals being couples with children. (JI)
Wavell Heights. Everything for families is at their fingertips, including beautiful parks, Chermside shopping centre, and easy access to the CBD. Some beautiful renovations and iconic Queenslander homes. (SH)
Stafford/Stafford Heights. Stafford and Stafford Heights, only 8kms from the CBD, offer excellent value compared to the more affluent Grange and Gordon Park. Families love the bike paths, parkland, retail and cafes. (TM)
Stafford. A thriving suburb with many owners investing in smart renovations. The average sale price has exploded and with its proximity to the city there is still upside. (MP)
Annerley. Lots of well-kept Queenslanders attract buyers who are keen on character. But it’s also a nexus for infrastructure with the Dutton Park train station nearby and Ipswich Road providing easy access around the southern suburbs. (SM)
Woolloongabba. The Gabba is a vibe. It’s where colonial Queenslander cottages mix it with old warehouses and state-of-the-art new apartment blocks, just a stone’s throw from Brisbane’s CBD. Home to historic Russian and Eastern European churches, ethnic grocers, coffee roasteries and the hallowed ground of the Gabba, there are many faces to this happening inner city suburb. And it will be home to the Olympic Stadium and the Cross River Rail.
Wishart. Fourteen kilometres southeast of the CBD, an excellent opportunity exists here to buy a good house on smaller block in this very strong growth corridor. The median age group 39 and, according to realestate.com, searches for this suburb are 2.5 times higher than the Queensland average. (JI)
Mount Gravatt East. Less than 9km to the CBD, it is a suburb that is transforming with many stunning renovations. Plenty of parks, great schools and close to Garden City shopping centre. (SH)
Woolloongabba. Woolloongabba will be home to the main Olympic stadium and its station will form part of the new Cross River Rail project. There are excellent investment opportunities here. (TM)
Shailer Park. Shailer Park was once had the price point of a first home buyer suburb but has matured into booming suburb. Considering the prices surrounding suburbs it would make sense to invest here. (MP)
Thornlands. Large allotments and homes with quality schools such as Sheldon College and the employment base of Redlands Hospital nearby. (SM)
Cannon Hill. Cannon Hill is a great emerging suburb of Brisbane. Well located with cafes and convenience shopping everything is on the doorstep of this suburb. With great schools such as CHAC (Cannon Hill Anglican College) & St Oliver Plunkett, it is an ideal suburb for young and growing families. (JA)
Morningside. Just 5kms east of the CBD, this is an in-demand suburb that benefits from the neighbouring suburbs, shopping, schools and amenities, with an annual capital growth of over 34 per cent. Rail and minutes from CBD. (JI)
Murarrie. Close to some of Brisbane’s most iconic suburbs, Murarrie offers a plethora of dining and cafe options, parks and affordable opportunity to live the Brisbane river lifestyle. (SH)
Morningside. Morningside attracts professional couples and families showing great value compared to neighbouring Hawthorne and Bulimba. It’s only 5 kilometres from the CBD. (TM)
St Lucia. Leafy suburb where homeowners take great pride in their homes. Excellent schools and the university attract a lot of professionals. (SM)
Auchenflower. Auchenflower in Brisbane’s inner west is renowned for its sprawling ornate Queenslanders perched on steep narrow streets threading through its leafy hills but it is also home to some great restaurants, a chic bar, quaint croquet club and one of Brisbane’s spookiest villas. Well loved by families for its easy access to the city and great schools. (JA)
Chapel Hill. 11 km from CBD, easy motorway access, median age group of suburb is 41. Great blend of renovated post war homes and some new builds, backing right onto the Mt-Coot-tha foothills. Great for families liking the outdoors, hiking or mountain biking only minutes from the Indooroopilly shopping centre (JI)
Graceville. Located around 8km from the CBD, Graceville is a thriving little community close to the Brisbane River. With so much diversity, the suburb has some historic Colonial, Queenslander, post-war, and grand modern homes with opportunity for renovation. (SH)
Toowong. Toowong has an exciting town centre with a new mixed-use urban community. Families love the transport and schooling options and its access to Coronation Drive River Walk. (TM)
PRESTIGE – $1.5m+
There are now 38 Greater Brisbane suburbs with median house values north of $1.5 million, from Toowong ($1.5m) to Teneriffe ($3m).
In January 2022, there were just eight suburbs above that price point and Teneriffe was a $2 million suburb.
Hamilton. Home to some of the city’s best blue chip real estate. Pitched between the city and the airport, it’s popular with executives. The potential redevelopment of the riverspace and the addition of the Breakfast Creek Green Bridge makes it an appealing place to call home. (SM)
Samford Valley. Just outside the Brisbane city but still ranked one of the most idyllic semirural locations. Offering a modern country community feel with luxury acreage properties, scattered throughout this green tree lined valley. (JI)
New Farm. New Farm is known for its beautiful, large homes and its tree lined streets. Great community, very stunning area. There are also a lot of parks/recreational places you can go with the family. Houses are long held but very sought after in New Farm. (JA)
Ascot. Home to some of Queensland’s best schools, it’s hard to compete with a suburb like Ascot. It has some of Brisbane’s most stunning estates and properties on the fringe of the Brisbane River. Streets lined with jacarandas, large open, cafes, restaurants, and bars – all at your fingertips in this gorgeous tightly held pocket. (SH)
Wilston. Wilston is a prestige suburb with an attractive mix of architecture, excellent city views and the popular Wilston Village. (TM)
Ascot. When you think of Brisbane prestige real estate, you think of Ascot. If you could secure one of the most tightly held residences and had no budget – you would buy it. (MP)
Bulimba. Oxford Street on a Saturday and Sunday is teeming with locals who can make the leisurely walk into the precinct from home. Some cutting-edge architecture in the riverside hamlet which has one of the most popular ferry terminals in the city. (SM)
Graceville. Southwest of Brisbane, its wide streets with river views, ancient fig trees and classic Queenslanders make Graceville one of the highest searched suburbs in Brisbane. It’s a relaxing yet changing demographic towards younger families, it has wonderful cafes and eateries are at your disposal and only 7.8 km from the CBD, rail, buses and main access roads north or south, it’s hard to go past. (JI)
Bulimba. Living in Bulimba means having the Brisbane River right at your doorstep. The suburb has a strong village atmosphere with all the trees, the river and the quiet vibe. On the right side of the river is the lively city of Brisbane just 20 minutes away from Bulimba. You can also take the CityCat to get to the city. (JA)
Norman Park. Just 4km to the CBD, Norman Park offers the best of the Brisbane River lifestyle. The suburb is a short walk, ferry ride, or drive to everything Brisbane has an offer. The suburb has beautiful tree-lined street and some grand beautiful new homes, older homes, and incredible renovations. (SH)
Coorparoo. Coorparoo includes luxury pockets with beautiful homes on big blocks, city views, local shops, parks and walkways, and is still relatively affordable. A great choice. (TM)
Eight Mile Plains. Positioned in the centre of Brisbane’s hottest suburbs there are many reasons to buy a prestige property in Eight Mile Plains. (MP)
Raby Bay. Premium waterfront living with superior access to Moreton Bay. Four bedroom homes with moorings can be found for around the same price as a median home in Sydney. (SM)
Raby Bay. This bayside suburb is infamous for its larger canal frontage residences, some with private access to the foreshore. Within easy reach of the Cleveland shopping district and the direct gateway to Morton Bay, a very popular suburb for those looking to escape the inner city and enjoy the open waters. (JI)
Gumdale. Gumdale is roughly 17 km to the Brisbane CBD. The average property size in Gumdale is approximately between 5,000 to 10,000sqm making Gumdale consist mostly of acreages. Gumdale has several new development sites but it’s mostly acreages. It is Brisbane’s nearest acreage suburb to the CBD. (JA)
Hawthorne. One of Brisbane’s most aesthetic suburbs, Hawthorne has something for everyone. Suitable for younger families and retirees, the suburb has a humble community feel, while also a trendy and exciting atmosphere. A highly desirable location, the properties along the riverfront are some of the city’s most exquisite. (SH)
Manly. Manly offers a dynamic lifestyle with access to Morton Bay and the marina while only 30 minutes from the city. Lots of new homes and renovations are underway. (TM)
Gumdale. The Bayside acreage hidden gem that is home to some of Brisbane’s best properties. This will always be sought after real estate. (MP)
Pullenvale. Premium rural lifestyle opportunities. Residents can still commute into the city from their estates – something that you couldn’t do in Sydney or Melbourne for similar sized properties. (SM)
Brookfield/Pullenvale. With the post-Covid demand for more land space and lifestyle, the 2- 5-acre residences giving a semirural lifestyle close to the city has again put these two suburbs on the map. Great local shopping only minutes away in Kenmore and an easy commute to CBD. These rolling hill suburbs with grand size homes will not disappoint. (JI)
St Lucia. Located on a bend of Brisbane River, St Lucia is one of Brisbane’s oldest and most established suburbs. Within its picturesque setting you’ll find extensive parklands, sporting fields and clubs, including the generous St Lucia Golf Links and the University of Queensland. (JA)
Chelmer. People describe Chelmer as “the Australian dream’ with its large, beautiful, estate-like blocks, offering an idyllic family lifestyle along the Brisbane River. With its own train station, Chelmer is well connected. Driving the streets, you’ll see gorgeous old Queenslanders mixed with new renovations – all embracing river breezes – Chelmer is perfect for professional families. (SH)
Chelmer. Chelmer continues to attract interstate buyers and expats who compete with local families keen on a slice of this prestigious, leafy riverfront suburb. (TM)
Chelmer. There are serious homes in Chelmer and the exclusivity of some of Brisbane’s best streets should give you confidence when buying a trophy home. (MP)