Twelve suburbs in Brisbane have a median unit price of just under $400,000, according to Domain’s June House Price Report.
Ten out of these 12 suburbs are in the inner city, the report said.
Bowen Hills, Fortitude Valley, Albion, and Spring Hills are all within three kilometres of the Brisbane CBD. The median unit prices in these suburbs are below $400,000, the figures showed.
East Brisbane, Coorparoo, Clayfield, Nundah, Taringa, and Kedron also offer some of Brisbane’s cheapest unit values, according to the report.
Bowen Hills is the cheapest suburb to buy a unit, with prices falling 13.7% in the past 12 months, the figures showed.
Here are Brisbane’s cheapest suburbs to buy units by median price, according to Domain:
|
Suburb |
Median price |
YoY % growth |
5-year % growth |
|
Bowen Hills |
$362,500 |
-13.70% |
-18.80% |
|
Runcorn |
$368,250 |
4.80% |
-11.60% |
|
Richlands |
$370,000 |
-2.00% |
9.50% |
|
Clayfield |
$375,000 |
4.20% |
-2.10% |
|
East Brisbane |
$378,000 |
-7.40% |
-5.50% |
|
Coorparoo |
$382,000 |
-7.70% |
-2.30% |
|
Nundah |
$385,000 |
-6.70% |
-6.10% |
|
Taringa |
$385,000 |
-14.40% |
-4.90% |
|
Kedron |
$387,000 |
-3.30% |
6.30% |
|
Fortitude Valley |
$392,000 |
-6.80% |
-8.90% |
|
Albion |
$397,500 |
-10.00% |
-10.70% |
|
Spring Hill |
$398,000 |
-8.50% |
-2.70% |
Source: Domain
In Greater Brisbane, the median unit price fell 8.6% over the year to June, according to the report.
The capital city’s unit prices are “sitting at 2013 levels”—down from their peak in 2015, according to Domain research analyst Eliza Owen.
However, prices are expected to bottom out this year, with the end of the downturn in the unit segment in sight, Owen said.
“Unit listings are also moderating, which should reduce downward pressure on prices,” she said.
