Revealed: The Brisbane River suburbs to suit every budget
YOU don’t have to be a billionaire to live on Brisbane’s ‘brown snake’, but agents warn now is the time to get a bargain before it’s too late.
From a humble cottage a few minutes’ walk from the water, to the glamour of a luxury riverfront pad in Bulimba, there are still options to suit all budgets in the city’s river suburbs.
But with spring selling season just around the corner, agents are crying out for more property listings to meet demand and affordable options by the water are fading fast.
RELATED: Amazing waterside homes for every budget
Ann-Karyn Fraser of Place – New Farm, who specialises in selling riverside property in the western suburbs, said there were still affordable opportunities to buy in the city’s riverside suburbs, with a handful of renovators and smaller, older homes still available.
“Some of these properties offer huge potential for investment and, if renovated nicely, can end up paying off in the future,” Ms Fraser said.
“However, these opportunities are becoming less common.”
Ms Fraser said she expected it to become more challenging for buyers on a tight budget to secure a property close to the water over the next three years, with solid price growth predicted.
“People love living by the water; whether it be for the ease of taking out their boat or going for a run, walk or ride along the Brisbane River,” Ms Fraser said.
“It is a way of life here now in Brisbane and it’s extremely highly-sought after, yet opportunities are few and far between because these properties are tightly held.”
Despite the not-so-distant memory of the 2011 floods, demand for riverfront real estate in the Queensland capital is stronger than ever, according to realestate.com.au.
The recent sale of a luxury, riverfront apartment at New Farm for more than $6 million at 10/170 Bowen Terrace is testament to that.
But while the Brisbane River is home to many of the city’s most prestigious residences, less than 20 minutes from Brisbane city, the riverside suburb of Riverhills has a median house price of $508,800, according to realestate.com.au.
Right now, on the banks of the river, a four-bedroom, two-bedroom house on 661 sqm is on the market for $789,000.
MORE: Strike the right notes
The riverfront property at 9 Curlew Place is in a flood-free position in a quiet cul-de-sac just metres from the water.
Marketing agent Jackson Evenden from Ray White Sherwood – Graceville said properties in the suburb were tightly held and rarely became available for sale.
Mr Evenden said buyers were starting to see the value in suburbs like Riverhills, where properties by the river were half or a third of the price of those 10 minutes away in Sherwood and Graceville.
“After 2011, there was a bit of a stigma in buying a riverside home, but now the positives of buying near the river far outweigh the negatives,” Mr Evenden said.
“Just being able to wake up and look at the water every morning — people put an emotional premium on that view.”
For first homebuyers, a three-bedroom bargain is also for sale in the same suburb for $554,000.
The recently renovated house is on a bigger than average 653 sqm block and only a 20 minute drive to the city.
On the opposite side of the river in Bellbowrie, 18km from the CBD, the median house price is also affordable at $567,500.
A four-bedroom, two-bathroom house on a huge 1012 sqm block has just hit the market there for offers over $585,000.
The property comes with a saltwater pool and large deck and is walking distance to the river and local shopping centre.
In Westlake, where the median house price is $745,000, it is possible to pick up a property by the river on a big block of land for under $1 million.
In Fairfield, just 4km from the CBD, the median house price is a reasonable $736,500.
Right now, there is a five-bedroom character home for sale for offers over $855,000 at 18 Luya St, Fairfield, while around the corner in Yeronga, a three-bedroom house is up for grabs for offers over $695,000.
Bargain hunters should also head to inner-city Toowong.
While the median house price is getting up there at $901,250, there is currently a three-bedroom house on a bigger than average 647 sqm block for sale for between $800,000 and $850,000.
Kirsty and Jeff Claudius have just upgraded to a bigger house in the riverside suburb of Chelmer after recently selling their three-bedroom home in the same suburb.
The couple has lived in the area for the past 12 years because they like it so much.
According to realestate.com.au, Chelmer has a median house price of $1.25 million.
“We definitely like being near the water,” Mrs Claudius said.
“It’s just a nice outlook, it makes it nice and leafy around the area and a nice community feel.”
Mrs Claudius said she believed buying in a riverside suburb like Chelmer or Graceville was also a good investment.
“If you’re a first homeowner, it’s pretty hard to get in, but there are still a few gems around,” she said.
“Definitely in the long run property prices are going to continue rising.
“It’s close to the train lines here, there are great little cafes around … and good schools for the kids.”
If your pockets are somewhat deeper, Kangaroo Point, Bulimba and New Farm have some of the hottest riverside property in the city.
In Kangaroo Point, the most expensive house ever sold in a single transaction in Brisbane is back on the market.
The riverfront home at 1 Leopard Street fetched a record $18.488 million in 2017.
In Bulimba, the luxury pad belonging to rugby star Quade Cooper and his model girlfriend, Laura Dundovic, is on the market.
The four-bedroom, three-bathroom property at 34 Addison Ave was renovated before the couple moved to Melbourne this year, and includes a lap pool, rooftop terrace and 12m marina berth.
BRISBANE RIVER SUBURBS TO SUIT EVERY BUDGET
From least expensive to most expensive
Suburb Median House Price
Barellan Point $515,000
Seventeen Mile Rocks $630,000
Mount Crosby $735,000
East Brisbane $835,000
Kangaroo Point $941,500
Dutton Park $953,000
Highgate Hill $956,000
Fig Tree Pocket $993,000
West End $1.015m
St Lucia $1.0675m
New Farm $1.4375m
Pinjarra Hills $1.52m