Most expensive suburbs in Brisbane 2023
Looking to make Brisbane home and want to live in the best postcode money can buy?
If you just won the lottery, have the urge to splurge or are simply loaded, knowing the top 10 most expensive suburbs in Brisbane is a good place to start. The good news is that you get a lot more for your money in Brisvegas than if you were investing in Sydney's most expensive suburbs.
There you would need a cool $7.7 million or thereabouts to nab a home in Darling Point - the most expensive place to live in Sydney.
How much more? You are looking at a four bedroom house for under $2 million in the Queensland capital, which is why more than a few Sydneysiders and Melbournites are packing up and heading north.
Affordability coupled with an improving economic outlook and more job opportunities have all helped to make Queensland Australia's favourite destination for internal migration - and the weather also helps.
This is partly why BIS Oxford Economics forecasts Brisbane house prices will grow 20 per cent by 2022, with units performing a little softer at 14 per cent growth over the same timeframe.
Top 10 most expensive suburbs in Brisbane
Current holder of the title, Brisbane's most expensive suburb, goes to inner city Teneriffe which has shed its industrial past and made the most of its views and proximity to the city centre.
A median house price of $1,862,500 is understandable given the small number of houses that come onto the market, and it can't be too long before the median passes the $2 million mark. Don't think you can grab any house in this price bracket - premium homes on Teneriffe Hill or Macquarie Street can sell for as much as $4 million.
The median unit price is currently $550,000 and the average rent for a unit is $520/week. All this makes it relatively affordable for Sydney/Melbourne buyers, as you get a lot more for your money.
- Median house price: $1,862,500
- Median unit price: $550,000
- Average house rent: $650 per week
If you love living by the water then put Hamilton on your list, but be prepared to pay for the privilege of living near the river - the term 'sought after' springs to mind. In terms of performance, Hamilton houses have grown 9.0% over the last five years to a median of $1.5 million, while the median for units currently sits at just under half a million.
In reality, in-demand properties sell for a lot more than the median, with a desirable three bedroom unit in the suburb fetching in the region of $700,000.
"Hamilton houses have grown 9.0% over the last five years to a median of $1.5 million."
- Median house price: $1,500,000
- Median unit price: $495,500
- Average house rent: $750 per week
- Average unit rent: $420 per week
New Farm has vied with its riverside neighbours for the title of Brisbane's most expensive suburb, but misses out with a median house price of $1,437,500.
Thanks to its mix of heritage homes, including iconic Queenslanders and blocks of Art-Deco units, demand for homes in the 4005 postcode is strong, with realestate.com.au recording 674 visits per property for listings in New Farm, versus an average of 374 for Queensland overall.
The median unit price of $537,500 is an indication of the strength of the market there as the median house price for the state is $552,000.
- Median house price: $1,437,500
- Median unit price: $537,500
- Average house rent: $770 per week
- Average unit rent: $400 per week
Moving away from the river, Chandler is only slightly cheaper than New Farm with a median house price of just over $1.4 million and an average house rent of $560 per week.
Here the big drawcard is the leafy surrounds and large blocks, some as big as four hectares. For this reason you will struggle to find a unit and the high demand for houses is expected to keep prices growing for some time and the postcode near the top of the pile in terms of price and exclusivity.
- Median house price: $1,400,750
- Average house rent: $560 per week
Back to the river, this time in the east and just across the river from Teneriffe and Hamilton, Bulimba is another postcode that consistently attracts. Why? Waterfront charm, proximity to the city and quaint cottages are all drawcards for young professionals and families.
All this translates into an average of 432 visits per property listing - way above the state average for a median house price of $1,350,000 and median unit price for $572,500. In reality this means that you could pay in excess of $2 million or more for a house in a prime waterfront location, and more than $700k for a three bedroom unit.
"Bulimba properties have an average of 432 visits per property listing - way above the state average of 374."
- Median house price: $1,350,000
- Median unit price: $572,500
- Average house rent: $698 per week
- Average unit rent: $495 per week
Another in demand suburb - though it has dropped in our rankings - Ascot has historically been the most expensive suburb in Brisbane and has only been dethroned fairly recently by younger contenders to the throne.
Here the historic homes and old world charm are the main drawcards, as is the Ascot state school catchment. Median house prices in Ascot are currently $1,218,750 for houses and $460,000 for units. You can expect to bank $760/week for a house, and $395/week for an apartment.
- Median house price: $1,281,750
- Median unit price: $460,000
- Average house rent: $760 per week
- Average unit rent: $395 per week
Fig Tree Pocket
With views of the Brisbane River from three sides and just eight kilometres from the CBD, leafy and evocatively named Fig Tree Pocket is exclusive and as laid back as the river it sits on.
Here large blocks, abundant greenery, proximity to golf courses and a rural feel give it a median house price of $1.2 million, though you will need to save for properties on larger acreage. Homes have been known to sell for $4 million and close to $10 million for a large riverfront property - making this enclave some of the most sought after property in the city.
- Median house price: $1,200,000
- Average house rent: $620 per week
If you are looking for large acreage then best put Brissie's Pullenvale on your list, as the postcode is reputed to have the Sunshine state's largest average land size. This means you won't be shopping for a unit, but a house with a median price in the region of $1.1 million.
This suburb sits in the city's middle ring, which is leafy and has good schools, with a robotics innovation centre also in development. You won't find many units here but a house will earn you $770 per week in rent.
- Median house price: $1,160,000
- Average house rent: $770 per week
Another riverside gem, Hawthorne recently saw a home on Aaron Avenue sell for $9 million, though the median house price is a more affordable $1,100,000.
A sign of its desirability are the average 747 visits properties get in the suburb, double the state average. If you are in the market for an investment unit then the median price here is $492,500, though a three bedroom apartment is likely to cost closer to $560,000 currently.
"Hawthorne recently saw a home on Aaron Avenue sell for $9 million, though the median house price is more affordable $1.1 million"
- Median house price: $1,100,000
- Median unit price: $492,500
- Average house rent: $650 per week
- Average unit rent: $390 per week
St Lucia is not only home to the University of Queensland but it also sits on the river, is leafy and just four kilometres from the CBD. Here you will find a mix of properties, from heritage listed Queenslanders and Federation era homes to a mix of newer and older apartment blocks.
All this translates into a median house price of just over $1 million, while units sit just above the half a million mark. In terms of medium term growth houses have appreciated a respectable 4.7% over the last five years, with units up 1.2% over the same timeframe.
- Median house price: $1,067,500
- Median unit price: $500,000
- Average house rent: $580 per week
- Average unit rent: $430 per week
|Suburb||Median house price|
|Teneriffe, 4005||$1.9 m|
|Hamilton, 4007||$1.5 m|
|New Farm, 4005||$1.4 m|
|Chandler, 4155||$1.4 m|
|Bulimba, 4171||$1.4 m|
|Ascot, 4007||$1.3 m|
|Fig Tree Pocket, 4069||$1.2 m|
|Pullenvale, 4069||$1.1 m|
|Hawthorne, 4171||$1.1 m|
|St Lucia, 4067||$1.1 m|