It’s a great value middle-ring burb, described with terms like ‘trendy’ and ‘gentrifying’.
But recent headlines have placed it top-of-the-pops for all the wrong reasons.
Stafford reportedly saw the largest price drop of all Brissie burbs since rate rises began in May, according to PropTrack data reported in news.com.au.
How low did it go? Median house prices fell 16.9 per cent, seeing it drop out of the exclusive million-dollar-median club.
Frankly, seeing Stafford hit the million-dollar-median in the first place was something many locals would never have imagined, so in some eyes, balance has been restored to the force.
Stafford was not the only Brissie burb to see a drop from the million dollar club. Southside burbs and Nudgee rounded out the top 5 biggest drops. Neighbouring Chermside West and Stafford Heights, as well as Ferny Grove, also saw drops of more than 10 per cent.
So is this a bad news or good news headline? Well, for those locals who fell off their rocking chair when Stafford prices hit $1 million in the first place, you’re still sitting pretty on some solid price growth compared to pre-pandemic levels.
For newcomers eager to break into these popular suburbs, you’ve now got some extra wriggle room to secure a slice of middle ring gold at a very good value price.
Check out the #10 suburbs which dropped out of the million dollar median club
- Stafford -16.9%
- Upper Mount Gravatt -14.2%
- Salisbury -14.0%
- Nudgee -13.5%
- Moorooka -13.1%
- Chermside West -12.4%
- Stafford Heights -12.3%
- Ferny Grove -11.1%
- Mansfield -11.0%
- Mount Gravatt East -10.1%
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