Ascot Is Now the Most Expensive Suburb in Queensland: Latest Median House Price Report Says

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Ascot has overtaken Tenerife to earn the distinction as the most expensive suburb in Queensland to buy a house, as the top 10 list of suburbs with the highest median house price introduces several newcomers, according to the latest CoreLogic data.

Ascot’s latest median house price has risen to $1,600,000, the report said, enough to snatch the top position from Tenerife as most expensive suburb in Queensland.

In comparison, CoreLogic’s Best of the Best 2018 report, covering data through November 2018, showed Ascot’s house median value at $1,476,393 against Teneriffe’s $1,501,064. Teneriffe’s latest median house price is at $1,577,500, making it the third most expensive suburb, whilst second place Chandler is at $1,580,000.


 
 




The list of most expensive suburbs to buy a house in Queensland also has some new names including Sunshine Beach, Chevallum, Upper Brookfield, and Mermaid Beach. Despite the $1.6 million price tag, experts believe that QLD’s highest median house price is still considerably better compared to Sydney’s or Melbourne’s.

Domain predicts that dwelling prices in Brisbane will increase in 2019, after house prices ended 2018 almost unchanged and units prices fell six percent. House prices in 2019 will likely increase by four percent whilst units prices will grow by about three percent.

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Growing population, employment opportunities, great schooling, and affordability will continue to support dwelling price growths in 2019. Price growth acceleration, though, may be experienced late in the year.