There are no suburbs within a 50km radius of the Sydney CBD with a sub-$500,000 median price, reports domain.com.au.
But take a look at Brisbane and you can buy a prime middle-ring address and still get some change from your half-a-million.
Northside faves like Bracken Ridge and Boondall are proving irresistible to value hunters. Older style homes on larger blocks are attracting first home buyers, lured by price and amenity. Boondall offers proximity to Nudgee College, Australian Catholic University, the Virginia Golf Club and the airport.
Bracken Ridge is soon to reap the benefits of $140 million transport upgrade, set to shave commute times.
Some property commentators say the widening gap between Sydney and Brissie prices points to one thing: boom o’clock for Brisbane.
“It happens every cycle when the ‘affordability issue’ kicks into the southern states, especially Sydney,” says Right Property Group director and buyers’ agent Steve Waters.
“People say, ‘Enough is enough. Let’s move to Brisbane. It’s sunnier, there’s a better lifestyle, and we can literally get double the bang for our buck’.”
Other experts caution that without a jobs boom to match, the Brisbane growth spurt will run like a marathon not a sprint.
But regardless of whose crystal ball is right, we do think that buying in Brisbane represents great value and a little local knowledge can help you get the very best outcome in the long run.
View the Brisbane suburbs with a median house price under $500,000
- Ellen Grove $290,000
- Inala $370,000
- Richlands $374,450
- Acacia Ridge $399,501
- Rocklea $412,500
- Durack $417,500
- Bald Hills $441,100
- Zillmere $443,500
- Deagon $445,000
- Forest Lake $445,000
- Darra $460,000
- Fitzgibbon $462,500
- Riverhills $470,500
- Hemmant $475,000
- Boondall $488,750
- Bracken Ridge $495,000
- Tingalpa $500,000