So, if you can't afford the house of your dreams on a large block just yet, then buying a unit or townhouse is a viable option, especially for first home buyers. But where are the most affordable places to buy in Brisbane at the moment? REIQ has collated sales figures for the June 2008 quarter.
Zillmere, on Brisbane's north is the cheapest suburb to buy a unit or townhouse with a a median of $305 000, nudged up by 2% in the June 2008 quarter.
Calamvale is the next spot where first home buyers might want to investigate, with a median of $313 000. It's good news for buyers but unit sellers in Calamvale experienced almost a 5% drop in prices over the quarter.
Number three on the list of affordable locations is Algester. With a median price of only $316 250 it's a good entry point that has had recent growth. Runcorn is very close in price with a $317 000 median.
Units and townhouses in Lutwyche experienced almost 8% drop in prices, giving them a reduced, and more affordable, median of $321 600.
Results: 10 most affordable suburbs to buy units
| Locality | No Sales Jun Qtr 08 | Median Jun Qtr 08 | Change over qtr" | Median 12 months to end of Jun 08 | Change over 1yr" | Change over 5yrs |
|---|---|---|---|---|---|---|
| Zillmere | 11 | $305,000 | 2.0% | $295,500 | 11.5% | 119.7% |
| Calamvale | 11 | $313,000 | -4.6% | $323,000 | 8.0% | 84.6% |
| Algester | 12 | $316,250 | 0.4% | $292,500 | 13.0% | 108.9% |
| Runcorn ~ | 21 | $317,000 | -0.2% | $301,000 | 27.8% | 107.9% |
| Lutwyche ~ | 11 | $321,600 | -7.9% | $346,000 | 29.2% | 84.6% |
| Sunnybank Hills ~ | 10 | $332,500 | N/A | $315,000 | 27.8% | 97.5% |
| Annerley | 15 | $335,000 | 2.4% | $330,000 | 13.2% | 112.9% |
| Kedron | 15 | $335,000 | 2.4% | $328,500 | 16.9% | 121.6% |
| Moorooka ~ | 16 | $336,500 | 3.5% | $332,500 | 31.9% | 90.5% |
| Fortitude Valley * ~ | 45 | $338,000 | -11.7% | $356,000 | 6.3% | 35.6% |
Property listings
See the units and townhouses currently listed for sale in the top 10 most affordable Brisbane suburbs or search for all units and townhouses listings.
- Zillmere
- Calamvale
- Algester
- Runcorn
- Lutwyche
- Sunnybank Hills
- Annerley
- Kedron
- Moorooka
- Fortitude Valley
More information
Please note: # All figures are as at: 20-Aug-08 and are subject to further revision. (LGA) Local Government Area - as per the new boundaries gazetted 15 March 2008. Unit and townhouse data includes sales of all building units and group titled properties. " The calculations of percentage change in median prices compare preliminary estimates in the current period with preliminary estimates in the previous period where sufficient sales are recorded. ~ Medians affected by varying quality of stock sold. * Medians affected by varying quantities of new properties sold. ƒ Medians affected by varying numbers of waterfront properties sold.
