March Quarter 2009 Results
The five most affordable suburbs in Brisbane are all located in our city's south-west.
With median house prices under $350,000 for the year ending March, Inala, Acacia Ridge, Darra, Durack and Rocklea all provide good entry-level opportunities for buyers.
Median House Prices
Located between 11km and 19km from Brisbane's CBD, the affordability of these suburbs has ensured steady price growth over recent years.
With the exception of Acacia Ridge, these areas have recorded very healthy median house price growth of more than 70 per cent over the past five years - compared to 44.6 per cent for the Brisbane local government area.
Acacia Ridge's median house price increased by a still-impressive 53.9 per cent over the same period.
| Locality | Median 12 months to end of Mar 09 | Change over 1yr" | Change over 5yrs |
|---|---|---|---|
|
Inala |
$290,000 | 3.9% | 71.1% |
| Acacia Ridge | $314,000 | -3.4% | 53.9% |
| Darra | $330,000 | 1.5% | 78.4% |
| Durack | $333,000 | 3.1% | 70.2% |
| Rocklea | $345,500 | 2.8% | 70.6% |
Inala
The most affordable suburb in Brisbane - with a median house price of $290,000 - is Inala.
Located about 19km from the Brisbane CBD, Inala is an older suburb that has seen significant urban renewal in recent years following attractive street-scaping projects undertaken by the Brisbane City Council.
Housing styles in this suburb vary greatly, with an even mix of housing commission, new brick-and-tile, low and high-set homes and post-war weatherboard homes.
Acacia Ridge
Next on the list is Acacia Ridge with a median house price of $314,000. Acacia Ridge is about 15.5 km south of the Brisbane CBD and was established after the Second World War.
The styles of older houses in the suburb reflect the post-war boom and many are constructed of weatherboard, with some housing commission and brick-and-tile low-set homes.
In the last few years Acacia Ridge has experienced some new housing developments in isolated pockets, with many of these sold to investors.
Darra
Number three on the affordable list is Darra with a median house price of $330,000.
Darra is an older suburb about 16km south-west of Brisbane which is mainly made up of older-style weatherboard homes built in the 1940s and 50s.
Part of the overall plan for the area involves the further redevelopment of its industrial park which should provide an injection of capital into the community and hopefully result in an upgrade to local infrastructure and facilities.
The Brisbane City Council has been active in rejuvenating the streetscapes of the suburb as well as neighbouring recreational and parkland facilities in Jindalee and Sinnamon Park.
Durack
Durack - with a median house price of $333,000 - is at number four and is located 17km south of the Brisbane CBD.
Durack is an older suburb next door to Inala and Willawong. While the area is fairly sparsely populated, most facilities are available in neighbouring Inala and Forest Lake.
The suburb has undergone considerable land development for residential housing over recent years.
Rocklea
At number five is Rocklea with a median house price of $345,500.
Located 11km south of the city, Rocklea is best known for the Brisbane Markets, which sells wholesale fruit and vegetables to the general public.
Most of Rocklea is comprised of the markets, which are open seven days.
The residential aspect of the suburb is confined to small pockets and consists of older-style houses from the 1950s and 1960s.
The suburb has not seen a great deal of residential development largely because of the demarcation of commercial and industrial sites.
In recent years, however, the suburb has seen strong growth as a result of investor interest in affordable property.
