Ascot Is Brisbane’s Top Performing Suburb on the Northside for Property Price Growth: Report

Brisbane's Top Performing Suburb
Photo credit:shadowfirearts/pixabay.com

Ascot led Brisbane’s top performing suburbs on the north side in the first half of 2018 in terms of price growth, says a PRDnationwide report.

According to their “Affordable & Livable Property Guide in the 1st Half of 2018” report, Ascot tops the North area of Brisbane in both House and Unit property.

Demand for houses in Brisbane saw a healthy growth with the number of houses that were sold in Brisbane City Local Government Area (LGA) rising by 17.9%. The median price grew by 3.1% as well, the PRDnationwide report says.


 
 


Units, on the other hand, became more affordable as prices dipped -3.1% while rental prices remained stable in the LGA, for both houses and units. These give property buyers affordable alternatives amid rising costs of houses in the north and south suburbs.

Brisbane’s top performing suburbs in the 1st half of 2018
Area Suburb Type Median Price 2016 Median Price 2017/2018* Price Growth Projects 2017**
Inner Kangaroo Point House $860,000 $972,500 13.1% $105.0M
Newstead Unit $594,791 $627,500 5.5% $116.4M
North Ascot House $1,309,000 $1,520,000 16.1% $7.7M
Ascot Unit $445,000 $485,000 9.0% $7.7M
South Doolandella House $458,500 $530,000 15.6% $25.7M
Rochedale Unit $495,000 $545,000 10.1% $28.7M
East Bulimba House $1,157,500 $1,295,000 11.9% $21.3M
Cannon Hill Unit $450,000 $480,000 6.7% $6.0M
West Oxley House $528,000 $570,000 8.0% $11.4M
Oxley Unit $370,000 $457,000 23.5% $11.4M
*Median Price reflects transactions from 1 January 2017 – 31 March 2018
**Project developments is based on the aggregate of estimated construction value for residential, industrial, mixed-use and infrastructure projects that are scheduled to begin in the first half of 2018.
Source: PRDnationwide

Affordability & Liveability

The PRDnationwide report also indicated a decline in housing affordability in Queensland. There was an increase of 27.6% in the proportion of income to meet home loan repayments over the past 12 months (to the December 2017 quarter).  

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Among affordable suburbs for houses in greater Brisbane, Ellen Grove, Inala, Acacia Ridge and Darra emerged as the suburbs that meet their criteria. To meet affordability criteria, suburbs should have a maximum property sale price of the average state loan plus 40% deposit.


Top 3 Lowest Priced Suburbs
Top 3 Lowest Priced Suburbs* Median Price 2017/2018* Project Development** Median Rent 2017/2018 Rental Yield
Ellen Grove $295,000 $9,600,000 $325 4.5%
Inala $368,000 $2,884,000 $325 4.3%
Acacia Ridge $406,500 $3,750,000 $355 4.0%
*Top 3 suburbs are located within 20 km from Brisbane CBD. The suburb median price and median rent figures represent data from the 1st January 2017 to 31st March 2018.
**Project development is the aggregate value of estimated construction for residential, commercial, industrial, mixed-use, and infrastructure projects commencing in the 1st half of 2018.
Source: PRDnationwide
Brisbane's Top Performing Suburb
Photo credit:PIRO4D/Pixabay.com

These areas, however, failed to meet liveability criteria. Liveability criteria were added in 2018, including factors such as accessibility (within 5 km radius) to schools, parks, shopping centres, healthcare facilities, as well as low crime rate and unemployment rate.

Algester, Bracken Ridge, and Geebung, thus stood out as most affordable and liveable for houses. Algester, Northgate, and Parkinson, on the other hand, were the top picks for units. The suburbs considered are within a 20 km radius of the CBD.

Affordable and Liveable Suburbs for Houses
Suburb Median Price Price Growth Rental Yield Total Projects Radius from CBD
Algester $514,500 5.0% 4.1% $1.5 M 16.0 km
Bracken Ridge $500,000 4.2% 4.0% $2.9 M 15.6 km
Geebung $538,000 4.5% 3.8% $3.8 M 11.1 km
Source: PRDnationwide
Affordable and Liveable Suburbs for Units
Suburb Median Price Price Growth Rental Yield Total Projects Radius from CBD
Algester $365,000 17.4% 5.4% $1.5 M 16 km
Northgate $414,000 7.5% 4.8% $5.1 M 9.4 km
Parkinson $401,000 8.7% 5.4% $12 M 18 km
Source: PRDnationwide

To determine the most attractive properties in greater Brisbane, affordability and liveability, and other factors and methodology were considered such as trends, investment, and project development.