Aussie has combined forces with CoreLogic to uncover the most budget-friendly suburbs in Queensland.
The Aussie/CoreLogic Most affordable suburbs for housing report reveals the most affordable property markets across Queensland. And the good news is that there is a wide variety of neighbourhoods where buyers on even the tightest budgets have the potential to jump into the market.
Queensland’s cheapest suburb
Situated 800km west of Brisbane, the outback town of Cunnamulla takes the title of Queensland’s cheapest town for houses. It’s also the fifth most affordable suburb Australia-wide. With a median house value of $43,000, buying a home in Cunnamulla could set you back less than the cost of a family car.
Regional Queensland – value for apartment buyers
For apartment buyers, a number of regional cities offer tremendous affordability. Head to Gladstone, 500km north of Brisbane, to find four of the nation’s 20 most affordable suburbs for units. A budget as low as $108,000 could buy you an apartment in South Gladstone.
Or head further north to Cairns, where apartments in the suburb of Woree have a median value of $139,000.
Russell Island – Brisbane’s cheapest suburb for houses
Housing conditions across Brisbane have been relatively steady over recent years. The market for houses has been stronger than for units, reflecting higher supply levels of apartments across the inner city. This imbalance is now starting to even out as population growth rises and supply is absorbed.
Across the greater Brisbane area, seven of the 20 most affordable suburbs are found in Ipswich. But it’s Russell Island that tops the leaderboard of the city’s most affordable suburbs for houses. The median house value here is $214,991, though it can be possible to pick up a house for just under $190,000.
For apartment buyers, the Logan area claims 11 of Brisbane’s 20 most affordable locations though semi-rural Kooralbyn takes the prize for the lowest median unit value of just $119,909. Hunt around, and it may even be possible to pay just $115,000 for a Kooralbyn apartment.
Affordable suburbs near Brisbane’s city centre
Buyers looking for something within 10km of the Brisbane CBD can expect to pay higher prices though affordable options are still available.
Five suburbs within 10km of Brisbane’s city centre have a median house value below $600,000 including Rocklea (median of $388,491), Keperra ($531,562) and Salisbury ($581,460).
The cheapest suburb for units within 10km of the CBD is Spring Hill, where the median unit value is $339,682. Other near-city suburbs offering excellent affordability for apartments include Stafford (median value $349,491) and Moorooka ($353,802).
With plenty of Queensland suburbs to choose from, even on a limited budget, talk to your local Aussie Broker to find the home loan that’s best suited to your budget and lifestyle. To read the full Aussie/CoreLogic report click here.