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After Sydney and Melbourne, Brisbane is arguably Australia’s third-biggest property market.
It’s been relatively stable and is expected to have price increases both for houses and units over the next few years.
If you’re an investor, you might be interested in these Brisbane suburbs that have shown strong signs of growth and likely to give you a solid ROI in the next three to five years.
Mount Gravatt
- Median house price: $649,000
- Median unit price: $404,000
- Average house rent: $440/week
- Average unit rent: $420/week
Mount Gravatt is located in Brisbane’s middle-ring, making it a more affordable investment option.
It currently has a few development projects proposed such as the Brisbane Metro System and the redevelopment proposed for the Central Fair shopping centre.
Cannon Hill
- Median house price: $745,000
- Median unit price: $417,000
- Average house rent: $500/week
- Average unit rent: $420/week
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There is an upgrade scheduled for the Cannon Hill station, a new golf course to be under construction next year and the Minnippi residential development.
Keperra
- Median house price: $549,000
- Median unit price: $455,000
- Average house rent: $440/week
- Average unit rent: $420/week
Keperra is another suburb with great public transport options and is located only 9km away from the Brisbane CBD.
Another middle-ring suburb, Keperra is an affordable option.
There has been an approved application for the development of a new housing estate, likely leading to more growth for the region.
Chermside West
- Median house price: $585,000
- Average house rent: $450/week
Chermside West is popular with young professionals, located near the Chermside commercial hub.
It has grown by over 30% over the past five years and will likely continue to grow.
The suburb is close to hospitals, shopping and sought-after schools, making it another great and affordable investment option.
Lutwyche
- Median house price: $863,000
- Median unit price: $435,000
- Average house rent: $490/week
- Average unit rent: $385/week
Lutwyche has the highest median house price on the list, however, being only 5km away from the CBD, it’s conveniently located near everything you’d need.
It’s had large developments and infrastructure projects such as its own bus interchange, a $60 million refurbishment of the local shopping centre, new apartments builds and more on the way.
Red Hill
- Median house price: $849,000
- Median unit price: $486,000
- Average house rent: $590/week
- Average unit rent: $360/week
The last on the list, Red Hill, is another inner-city suburb only 3km away from the Brisbane CBD.
It’s close to cafes, boutiques, hospitals and schools.
You’ll find traditional and post-war timber homes, many of which are being renovated to include more modern features.
Guest author: Ellen Orton is the Head of Business Operations at OpenAgent.com.au, an online agent comparison website helping Australians to sell, buy and own property.
