Brisbane’s Richest Suburbs
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Brisbane house prices have risen at their fastest rate in 13 years as the city’s property market adjusts to the persistent Covid-19-induced demand.
In 2021, the city saw a once-in-a-lifetime real estate boom, with about 400 suburbs joining the million-dollar club.
We have compiled a list of Expensive Suburbs in Brisbane.
Teneriffe
Teneriffe is one of the richest suburbs in Brisbane, an inner-city neighborhood, didn’t have many redeeming traits until the late 1990s. It was decrepit, rat-infested, shady after dark, and on the road to nowhere, so few residents went there unless they had a very good reason.
Then came the gentrification boom, which saw the renovation of abandoned old woolstore warehouses into luxury flats, resulting in a resurgence for this historic section of Brisbane.
It’s now one of the most popular spots to live and play in the city. Beautifully renovated warehouses, high-end restaurants, fashionable cafés, and tree-lined alleys give way to spectacular and enormous Queenslanders, which are in great demand by wealthy purchasers.
The notion of being right on the edge of the excitement while still being hidden away in a luxury property is quite attractive. It’s no surprise that new detached listings don’t stay long and fetch high prices.
Chandler
Chandler, an inner-southern suburb, is well-known for being a tiny bit of country in the center of the city.
The usual property here is a large residence on a few acres with abundance of trees giving it a bushy atmosphere, which is equally popular with local fauna like as kangaroos and koalas. It’s an understatement to say it’s serene and secluded.
Despite this, the city is only 20 minutes away by vehicle, and the Gateway Motorway is right outside your door, making it a quick trip to the CBD and a weekend trip to the Sunshine Coast or Gold Coast.
Chandler is favored by most families. It’s easy to understand why, given that it provides the best of both worlds: a peaceful and secure living with everything you need just a short distance away. The public schools in the area are excellent, and some of Brisbane’s top private schools are close by.
Hamilton
Every city has a suburb where the ‘establishment’ lives. It’s Toorak in Melbourne. It’s Bellevue Hill in Sydney. Hamilton is unmistakably Hamilton in Brisbane, with its long-established family and large, stately residences.
After European colonization in the early 1800s, this mountainous section of Brisbane was one of the first to be built. It was the residence of aristocracy and clerics. The profusion of antique mansions that have been meticulously repaired over decades give the area a ‘old money’ vibe.
It offers a calm, safe, and welcoming atmosphere, making it a perfect spot for families to raise children and senior citizens to spend their golden years.
Racecourse Road, which runs down to Eagle Farm, the racetrack, has long been the local glitzy retail and eating area.
While it may be Brisbane’s grand old dame, the massive redevelopment of the riverfront sector in recent years has given Hamilton a fresh new atmosphere, complete with high-end residential complexes, superb shopping and eating, and magnificent new parks.
Ascot
Ascot is Hamilton’s younger brother, located exactly next door, and the two have more in common than differences.
Perhaps the one thing that sets Ascot apart is its close-knit community atmosphere. It’s opulent and magnificent, but it’s also more open and friendly. It’s also not quite as large as Hamilton.
The houses are equally beautiful and desirable. Although there are some wonderful colonial-era homes nearby, you’ll find more Queenslanders than not. The majority have been painstakingly repaired, but there are still a few that may benefit from a thoughtful makeover.
Hamilton’s lifestyle is equally as upscale, with some wonderful cafés and shops, but the pace is much slower. Although there aren’t as many services and amenities available, they are all within easy reach.
Ascot State School is one of Brisbane’s best, which is why this neighborhood is so popular with families.
St Lucia
Young uni students mixing amicably with old money families and cashed-up upwardly mobile sorts could only happen in Brisbane.
The University of Queensland, a sandstone institution where tens of thousands of students pursue their academic goals amid gorgeous environs and world-class facilities, is located in the heart of this green and mountainous neighbourhood.
You’ll find a wide range of housing options, including new and vintage rental flats for students, modern architectural marvels for young professionals, and heritage properties for long-term residents.
St Lucia has all you need in terms of amenities, including superb eating, a wide range of retail outlets, easy public transportation, decent road connections, a country club and golf course, athletic facilities, and beautiful parks. St. Lucia is definitely one of Brisbane’s expensive suburbs.
Pullenvale
What is the best way to describe Pullenvale? Beautiful houses on land in a one-of-a-kind rural environment that feels a million miles from civilization yet is only 30 minutes away by automobile.
Words, on the other hand, do not give it credit. The type of lifestyle on offer in a large capital city has to be seen to be believed. Because it’s such a unique environment out here, fresh sales listings are often scarce and rapidly scooped up.
For newcomers, traffic can be difficult to acclimate to, and the drive to the western suburbs can be lengthy during rush hour. Because public transportation is almost non-existent, there isn’t much of a choice but to get in the automobile.
In recent years, there have been reports of problems with cell and internet reception, although attempts are being made to enhance dependability.
Pullenvale, on the other hand, will appeal to individuals seeking exquisite houses in a stunning natural setting that is safe, family oriented, and relaxing.
The enormous Indooroopilly Shopping Centre is roughly 15 minutes away, and Kenmore Shopping Village is near by. There are also a number of excellent schools within reasonable driving distance.
There is no median unit pricing or average weekly unit rent, as you can see. Apartments are quite rare in this area, with detached residences accounting for the vast majority of the housing stock.
Bulimba
Bulimba is the magnificent suburb that would result if Ascot and Hamilton had a kid and relocated over the river. It’s one of Brisbane’s most coveted neighborhoods.
The area’s large Queenslanders have been rebuilt and restored throughout the last several decades, so there’s no shortage of stunning residences. In a tiny building boom, outmoded homes with little redeeming attributes have been demolished to make way for boutique and high-end duplexes or stylish unit complexes.
The lively and tree-lined Oxford Street, home to fantastic restaurants, stylish cafés, and high-end shops, is the hub of the neighbourhood. Bulimba Memorial Park is a lovely spot for relaxing, watching children play, or catching up with friends.
The motorways are only a few minutes away, giving you easy access to the north and south, as well as to the CBD. Given that there is no bridge crossing from this section of town, driving to the city can be a stressful experience, but the City Cat station at the end of Oxford Street provides a relaxing alternative.
This place is great for young professionals and families who seek a comfortable location to live with all they need in a lovely bubble with pretty decent access to the city.
Hawthorne
A property on Aaron Avenue in Hawthorne just sold for $9 million, despite the fact that the typical house price is a more modest $1,100,000.
The average number of visits to houses in the suburb is 747, which is twice the state average. If you’re looking for an investment property, the median price is $492,500, however a three-bedroom apartment is more likely to cost around $560,000 right now. No wonder, Hawthorne is in our list of richest suburbs in Brisbane.
Fig Tree Pocket
The green and evocatively called Fig Tree Pocket is exclusive and as laid back as the river it lies on, with views of the Brisbane River from three sides and only eight kilometers from the CBD.
The median house price in this area is $1.2 million, with larger lots, lush greenery, access to golf courses, and a rural air, while larger acreage properties will cost more. Homes in this area have sold for as much as $4 million and as much as $10 million for a big riverside property, making it some of the city’s most expensive real estate.
New Farm
With a median property price of $1,437,500, New Farm competes with its riverfront neighbors for the title of Brisbane’s most expensive suburb.
Demand for houses in the 4005 postcode is high, thanks to its mix of vintage homes, including classic Queenslanders and blocks of Art-Deco flats, with realestate.com.au registering 674 views per property for listings in New Farm, compared to an average of 374 for Queensland listings.
The median unit price of $537,500 reflects the market’s strength, given that the state’s typical home price is $552,000.