Media releases

Westpac Suburb Snapshot reveals best buys in Brisbane’s major regions

 

1 February 2014

  • Brisbane’s most affordable, average and affluent suburbs per region
  • Regions include Brisbane’s Inner City, Outer North, Outer South, Outer East and Outer West

Westpac has identified the top five most affordable1, the average and the leading affluent suburbs in Brisbane’s major metropolitan regions.

The Westpac Suburb Snapshot, developed in partnership with RP Data, has uncovered useful insights for those looking to buy, sell or who are simply curious about their neighbourhood.

Seven Hills is ranked as the most affordable Inner City suburb. With a median house value of $580,619, the suburb provides good value for being 5km2 from the CBD.

In the average category of The Westpac Suburb Snapshot, Manly West in Brisbane’s Outer East stands out as an ideal suburb to enjoy lower values and bayside living, without being too far away from the city. With a median house value of $479,244, the suburb is located just 13.5km from the CBD and neighbours Manly Boat Harbour, the largest boat harbour in Queensland.

Still in Brisbane’s Outer East, Capalaba is ranked as the most affordable suburb with a median unit value of $276,430. Located 19km east of the city, the suburb is appealing to many first home buyers due to the amount of property available; in the past 12 months more than 90 units were sold.

“Westpac understands that the dream of many Australians is to own their home sooner,” said Gai McGrath, General Manager of Retail Banking at Westpac.

“Identifying that suburbs such as Manly West and Seven Hills represent value for money is vital when considering a purchase in that area. If paying off your home loan as quickly as possible is a top priority, purchasing at the right price is a great start. www.westpac.com.au

“When looking for a home to buy it’s important to be armed with as much information as possible. The Westpac Suburb Snapshot helps buyers identify insights into affordable and mid-range suburbs in the regions they want to live or invest in, and is similarly useful to those planning on selling their property to identify where their suburb falls.”

Interesting Findings - Westpac Suburb Snapshot:

  • The most affordable Inner City suburb is Seven Hills; with a median house value of $580,619 this suburb provides good value for being so close to the city.
  • Victoria Point (median value $308,947) is the fifth most affordable suburb for units in Brisbane’s East, which offers great value for money for a waterside suburb.
  • Ascot and Hamilton, both located in Brisbane’s Inner City, are ranked as the most expensive suburbs for houses across all regions. Median house values sit at $1.2 million and $1.1 million respectively.

1 Most affordable suburbs are classed as those holding the lowest median house and unit value within the region.
2 Average kilometres from the CBD is measured as the crow flies from the geographical centre of the suburb.