Adam Empringham,
Director of Sales at Image Property.
Where to Buy in Brisbane 2024
As we step into the real estate landscape of 2024, Brisbane continues to captivate with its dynamic property market. With the median house price projected to reach $1 million in the coming year, buyers are keen on identifying suburbs poised for growth before the city joins the million-dollar club alongside Sydney, Melbourne, and Canberra.
Follow along as we check out the current trends noted by Domain and highlight promising suburbs offering both affordability and growth potential.
The recent Domain House Price Report paints a compelling picture of Brisbane’s property market. The median house price in Greater Brisbane has surged to an impressive $888,285, showcasing a remarkable increase of $318,232 in just five years.
Despite facing challenges such as interest rate hikes and the cost of living, Brisbane’s property prices have continued to rise throughout 2023, setting the stage for a significant milestone in the city’s real estate history.
Strategic Landscapes
For buyers looking to make the most of this evolving market, focusing on postcodes that balance affordability with robust growth is key. Domain’s insightful analysis has pinpointed seven such suburbs located within 30 kilometres of the CBD in Greater Brisbane. These suburbs not only fall below the city’s median but have also recorded double-digit growth over the past 12 months.
Top Suburbs to Watch
According to the Domain House Price Report, these are the 7 of Brisbane’s hotspots to watch out for in 2024.
Taigum:
Situated 14 kilometers north of Brisbane’s CBD, Taigum takes center stage with an impressive 22.2% increase in house prices in the 12 months to December, noted by Domain. The median house price now stands at $605,000, making it an enticing prospect for prospective buyers seeking both growth potential and affordability.
To explore the diverse range of properties in Taigum and gain insights into this market, we invite you to speak with our dedicated Agent in Taigum. Temika Stagg, is ready to guide you through the process, offering personalised advice tailored to your needs.
Eastern Heights:
Subsequently, this area has experienced a noteworthy 22% surge, elevating the median house price to $555,000. Additionally;
Brendale:
Situated 20 kilometers north of the CBD in the Moreton Bay region, saw a commendable 16% increase, reaching a median of $435,000.
Murrumba Downs:
With a robust rise of 13.3%, Murrumba Downs showcases resilience in the face of market challenges. The median house price has climbed to $850,000, making this suburb a noteworthy choice for those looking to invest in a suburb with a track record of growth.
To explore the diverse range of properties in Murrumba Downs and gain insights into this market, we invite you to speak with our dedicated Agent in Murrumba Downs. Joel Clifford, is ready to guide you through the process, offering personalised advice tailored to your needs.
Collingwood Park:
Positioned as another standout suburb, Collingwood Park has experienced an 11.8% increase in house prices, bringing the median to $580,000. This suburb not only offers potential for future growth but also remains within reach for astute buyers.
Augustine Heights and Bethania:
These suburbs round out the list with growth rates of 11.4% and 10%, respectively. Augustine Heights boasts a median house price of $760,000, while Bethania offers an attractive median of $550,000. These suburbs present diverse opportunities for buyers looking to capitalise on Brisbane’s evolving property market.
As Brisbane’s property market gears up for a transformative period, these selected suburbs offer a strategic entry point for buyers and investors. Our team at Image Property is here to guide you through this exciting journey, contact us today for any of your property-related needs.
