Discover the Brisbane suburbs where prices now top $1m



article header

A record 15 Brisbane suburbs now have a median house price of at least $1 million – including the first suburb to top the $2 million mark.

Teneriffe’s median house price reached $2.075 million during the March quarter, according to a report from the Real Estate Institute of Queensland (REIQ).

The other 14 million-dollar suburbs are:

  • Ascot $1.413 million
  • Bulimba $1.15 million
  • Chelmer $1.053 million
  • Clayfield $1.05 million
  • Fig Tree Pocket $1.05 million
  • Hamilton $1.165 million
  • Hawthorne $1.2 million
  • Highgate Hill $1.163 million
  • New Farm $1.615 million
  • Paddington $1.005 million
  • Robertson $1.077 million
  • St Lucia $1.185 million
  • West End $1.080 million
  • Wilston $1.15 million

Over the year, Brisbane’s median house price rose 4 per cent to $650,000 – taking growth over the past five years to 27.5 per cent.

Brisbane’s unit market went backwards, though, with the median price falling 1.9 per cent over the year to $445,000.

Market on solid foundations, says CEO

istock_79305201_small5

REIQ chief executive Antonia Mercorella said the Brisbane house market consistently performs well for property owners, while maintaining its affordable status.

“Brisbane now has its first $2 million suburb with Teneriffe, but compare this with Sydney, which has more than a dozen, possibly up to 14 suburbs, with a median house price of $2 million or more,” she said.

Ms Mercorella also said the REIQ is confident the long-term future of apartments is secure – including in the inner city, where fears have been raised about an oversupply.

She pointed to projects such as Queen’s Wharf and the Howard Smith Wharves, which she said are adding to the night-time economy of inner Brisbane.

“Added to South Bank, Milton’s Caxton Street and the Barracks, the West End and Eat Street Markets, this is a diverse and vibrant inner city and the demand for inner-city apartments will continue to grow over time.”

Advertisement

^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

Compare your product with the big 4 banks, or add more products to compare
As seen on