All sources have been thoroughly verified for credibility. Furthermore, a local real estate expert has reviewed and approved the final article.
Yes, the analysis of Brisbane's property market is included in our pack
Considering buying a nice property in Brisbane? You're not alone!
Many people are captivated by Brisbane's outdoor lifestyle and dream of owning a waterfront property or a modern city apartment.
Does it make sense, though? Are property prices increasing in Brisbane? What is the price per sqm? Is it more profitable to buy in New Farm or West End? What about the taxes? Where can you get a rental yield above 7%?
We've figured it out for you.
The BambooRoutes team has done their homework on this market. As a matter of fact, we've organized all our findings in a pack. Get it now.
In the lines below, we will share some of this knowledge.
How is the real estate market in Brisbane?
Is the property market getting better or worse? People have different views. We like to be unique and analyze the latest data and stats to make accurate conclusions.
Types of properties
In Brisbane, there are various types of properties available for sale to meet different preferences and needs.
These include houses, which are standalone dwellings often with a yard; apartments, which are units within larger buildings and can be more affordable or offer shared amenities; townhouses, which are usually multi-story properties connected to neighboring units; and land, where buyers can build their custom homes.
Additionally, you may find commercial properties for sale, such as offices, retail spaces, and warehouses, catering to businesses and investors.
Each property type offers its unique features and advantages, allowing potential buyers to choose the one that best suits their lifestyle and investment goals.
What's better: buy or rent?
(If you're buying for yourself and not to rent out)
Whether you've already made Brisbane your home or are considering it for the future, you might be considering whether to buy or rent a property in this vibrant Australian city.
Obviously, it's better to buy if you are looking to build equity and enjoy long-term financial security.
To make a good decision, look at the property price-to-rent ratio. Use this metric to see how rental income can help you pay off the property over time.
According to Numbeo, the property price-to-rent ratio in Brisbane is around 25.75, which is above the world average.
This value indicates that it would take you 26 years of paying rents before you can afford to buy a property in Brisbane.
Property prices in Brisbane
On average, according to the last data from CoreLogic, buying a property in Brisbane would cost you around $9,000 per square meter.
Obviously, there are big differences. The value of a square meter for a riverfront property in Brisbane might differ from a suburban house in Paddington. We actually offer a more in-depth analysis in our pack for buying property in Brisbane and in Australia.
To put things in perspective, it is similar to the property prices you can find in a city like Munich.
Also, housing prices in Brisbane are 17% cheaper than in Sydney.
The most expensive neighbourhoods in Brisbane are probably New Farm, Hawthorne, Paddington, and Bulimba, while the cheapest neighbourhoods are likely those in outer suburbs such as Logan and Ipswich.
Trends
First and foremost, we have to acknowledge that Australia is, today, one of the most stable countries in the world. The last Fragile State Index that has been reported for this place is 22.7.
This is important to remember when wondering if it's a good investment to buy a property in Brisbane.
Also, according to the International Monetary Fund (IMF), Australia's economy is expected to soar by 8.8% in the coming 5 years, resulting in an average GDP growth rate of 1.8%.
If you want to invest in real estate in Brisbane it's a good thing because an expanding economy usually means people earn more, so they can buy property for themselves or as an investment, causing property demand (and then prices) to increase.
Also, in Australia, the average GDP per capita has changed by 4.0% over the last 5 years. The growth, although minimal, is still present.
These are cues signaling that property prices in Brisbane might go up in 2024 and during the coming years.
Looking for more updated data? We've done a big-picture study to find out if it's a good idea to purchase property in Australia right now.
Buying property in Brisbane
Due to the constantly changing market, gathering reliable and up-to-date information can be the most challenging part of buying property in Brisbane. That's why we have created the pack to buy property in Brisbane and in Australia.
Buying process
Within our pack, we have outlined the complete buying process. This includes the necessary documents, the applicable taxes, as well as information about where to locate properties, and more.
Here, we are providing you with a simpler version to assist you in better comprehending the information.
This is the step-by-step process to purchase a property in Brisbane:
- Save for a deposit (typically 10-20% of the property price).
- Get pre-approved for a home loan from a Brisbane-based lender.
- Engage a licensed real estate agent familiar with the Brisbane market.
- Search for suitable properties in Brisbane's neighborhoods.
- Arrange property inspections and attend open houses.
- Conduct due diligence, including obtaining a property and title search report specific to Queensland.
- Make an offer or bid at an auction (if applicable), and negotiate the sale price.
- Exchange contracts with the seller, including the standard Queensland contract and any special conditions.
- Pay the deposit into a trust account handled by the real estate agent or solicitor.
- Organize a property valuation from a Brisbane-based valuer for the lender's assessment.
- Complete the settlement process, which may involve a settlement agent or solicitor to handle the necessary paperwork and transfer of funds.
- Receive the keys and take possession of the property, and update the ownership details with the Queensland Government's Land Titles Office.
Also, if you're not from the country, you might want to check our article on how to buy property as a foreigner in Australia.
Make a profitable investment in Brisbane
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Where to find a property
Discover properties in Brisbane using these websites:
- Realestate.com.au - A comprehensive platform for real estate services, providing property listings, mortgage information, suburb research, and the latest property news.
- Domain - A property portal offering a wide range of real estate services, including property listings, home loans, new developments, and news updates.
- Flatmates - Australia's largest share accommodation website, connecting individuals looking for shared homes or flatmates.
- Allhomes - A real estate website providing various property services, including buying, renting, selling, and commercial properties.
- Realcommercial - The leading destination for commercial property, offering a wide range of listings, investment opportunities, news, and agency information.
Also, know that we have included contacts of real estate agencies, property lawyers, moving companies, expats communities and more in our pack for buying property in Australia.
Properties & Budget
As mentioned before, the average price per sqm in Brisbane is $9,000. A 1-bedroom property with an area of 60 square meters would cost approximately $540,000, and a 2-bedroom property with an area of 85 square meters would cost approximately $765,000.
However, property prices can vary because of their qualities and where they're located.
Property prices in Brisbane's top areas are typically higher. If you're looking at New Farm, an apartment could cost you around $1,030,000, but an apartment in Paddington might be priced at $960,000.
But, there are cheaper places. You may find a residence in Inala for $890,000, or a residence in Redbank Plains priced only at $570,000.
We give a more detailed pricing list in our full pack for buying property in Australia.
Common mistakes
Here are the main pitfalls when buying a property in Brisbane, Australia:
- Foreign investment regulations: Non-resident buyers face restrictions and additional taxes.
- Flood-prone areas: Certain suburbs are prone to flooding, affecting property safety and insurance costs.
- Bushfire risks: Properties near bushland may be susceptible to bushfires, impacting safety and insurance premiums.
- Termites and pests: Brisbane's subtropical climate makes properties vulnerable to termite infestations.
- Heritage-listed properties: Buying historic properties may require compliance with strict preservation rules.
- Body corporate fees: Apartments and townhouses may have ongoing fees for shared facilities and maintenance.
- Environmental overlays: Properties in designated zones may have development limitations due to environmental concerns.
- Commute and traffic: Underestimating commute times can lead to inconvenience and reduced property value.
We don't want this to happen to you, so we have included a full checklist for your property investment in our pack of documents. Avoid these mistakes and save a lot of money.
Everything you need to know is included in our Australia Property Pack
Living in Brisbane
Living in Brisbane is an excellent choice for those looking to purchase property, as it offers a vibrant, cosmopolitan lifestyle with plenty of outdoor activities and a great climate.
Cost of living
The cost of living in Brisbane is generally lower than in other major Australian cities, such as Sydney and Melbourne. It is possible to live comfortably in Brisbane for less than in other major cities, making it an attractive option for those looking to relocate.
Here are some examples to better understand the cost of living in Brisbane, Australia:
- Rent for a one-bedroom apartment in the trendy neighborhood of West End: $1,800 per month.
- A meal at a local restaurant with "Barramundi," a popular Australian fish: $30.
- Monthly "Go Card" for public transportation: $120.
- Utilities (electricity, water, heating) for a small apartment in Kangaroo Point: $170 per month.
- A cup of "Flat White," a classic Australian coffee: $5.
- Ticket to the "Lone Pine Koala Sanctuary," a famous wildlife park: $25.
- Monthly membership at a popular fitness chain like "Goodlife Health Clubs": $90.
- A bottle of "Bundaberg Ginger Beer," a well-known Australian soft drink: $2.
Neighbourhoods
We want to show information in an easy-to-understand way. So, we made a table that shows the different areas in Brisbane. For yields, prices and rents, check our property pack.
| Neighborhood | Description | Strengths | Weaknesses |
|---|---|---|---|
Central Business District (CBD) | The CBD is the heart of Brisbane, bustling with commercial activity, shopping, dining, and entertainment options. | Excellent transport links, vibrant nightlife, a wide range of businesses and services. | Expensive real estate, high levels of noise and traffic congestion. |
West End | West End is known for its diverse community, vibrant cultural scene, and numerous quirky cafes and shops. | Eclectic atmosphere, great for arts and music lovers, excellent dining options. | Parking challenges, limited green spaces. |
New Farm | New Farm offers a mix of modern apartments and historic houses, along with beautiful riverfront views. | Stunning parks and river walks, trendy lifestyle, easy access to the CBD. | Can be pricey, limited public transport options. |
Kangaroo Point | Kangaroo Point sits on the Brisbane River and is popular for its recreational activities and stunning city views. | Abundance of outdoor activities, close to the CBD, iconic cliffs. | Limited shopping options, some areas prone to flooding. |
Fortitude Valley | Fortitude Valley, or "The Valley," is a vibrant entertainment precinct known for its lively nightlife and diverse dining scene. | Great for nightlife, cultural events, proximity to the CBD. | Noisy and crowded, limited green spaces. |
South Bank | South Bank is a recreational and cultural hub with beautiful parklands, the Wheel of Brisbane, and the Queensland Cultural Centre. | Abundance of parks and recreational facilities, cultural events, stunning river views. | Touristy and crowded at times, limited housing options. |
Paddington | Paddington is a charming neighborhood known for its historic cottages, boutique shops, and lively cafes. | Unique shopping experiences, picturesque streets, sense of community. | Limited public transport, steep hills. |
Woolloongabba | Woolloongabba, or "The Gabba," is famous for the Brisbane Cricket Ground and its emerging trendy dining scene. | Proximity to The Gabba stadium, emerging restaurant scene, easy access to the CBD. | Some areas can be noisy, limited public transport options. |
Hamilton | Hamilton is a riverside suburb with a mix of luxury apartments, historic homes, and the popular Portside Wharf precinct. | Riverfront living, high-end dining and shopping options, proximity to the airport. | Can be expensive, limited public transport options. |
Ascot is an upscale suburb known for its beautiful old homes, tree-lined streets, and the Eagle Farm Racecourse. | Leafy and picturesque streets, close to the airport, prestigious schools. | Expensive real estate, limited public transport options. | |
Toowong | Toowong offers a mix of apartment living and traditional Queenslanders, with a bustling commercial precinct along Coronation Drive. | Close to the University of Queensland, riverfront parks, good shopping and dining options. | Traffic congestion, limited parking, some areas prone to flooding. |
Indooroopilly | Indooroopilly is home to the Indooroopilly Shopping Centre and offers a blend of suburban and city living. | Large shopping center, good schools, leafy streets. | Traffic congestion, limited nightlife. |
Mount Gravatt | Mount Gravatt is a hilly suburb with scenic views, diverse dining options, and the popular Westfield Garden City. | Scenic views, good shopping and dining options, proximity to Griffith University. | Some areas hilly and challenging for pedestrians, limited public transport options. |
Sunnybank | Sunnybank is a culturally diverse suburb known for its Asian cuisine and shopping precincts. | Wide range of Asian restaurants and markets, cultural diversity, affordable housing. | Some areas can be crowded, limited public transport options. |
Carindale | Carindale is a family-friendly suburb with the Westfield Carindale shopping centre and numerous parks and schools. | Family-friendly, large shopping center, good schools. | Some areas prone to flooding, limited nightlife. |
Chermside | Chermside is a major regional hub with Westfield Chermside, hospitals, and recreational facilities. | Large shopping and entertainment complex, good healthcare facilities, easy access to the CBD. | Traffic congestion, limited public transport options. |
Life in Brisbane
Brisbane is a major economic hub in Australia, with a thriving CBD and many employment opportunities in areas such as finance, healthcare, education, and technology. It is also home to a growing start-up scene, with a number of innovative companies and entrepreneurs building businesses in the city.
What expats usually like the most in Brisbane is the laid-back lifestyle, with plenty of outdoor activities like hiking and swimming, as well as a vibrant nightlife scene. They also appreciate the sunny climate and the easy access to nearby beaches and other attractions.
Regarding safety, the crime rate of Brisbane is around 37, which is average. Brisbane is a large city with a strong police presence and low levels of poverty, which contributes to its low crime rate.
A good point for a property investor - Brisbane has a mass rapid transit system known as the TransLink network, which includes buses, ferries, and trains.
Access to healthcare in Brisbane is excellent, with a Healthcare Index of 73. A strong healthcare infrastructure always improves the desirability of a location, which is a good thing for real estate.
Finally, it is worth noting that Brisbane has three world-class universities: The University of Queensland (top 60), Queensland University of Technology (top 250) and Griffith University (top 300).
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Renting out in Brisbane
This part is for you if you want to buy a property with the goal of renting it out and making money from it, rather than living there.
Long-term
Tenant Profiles in Brisbane
According to the data reported by Wikipedia, the home ownership rate in Australia is 66%, which is average.
It means that, if you decide to buy and rent out in Brisbane, there will be a good number of people who can become your potential tenants.
If you decide to buy and rent out to long-term tenants, you should target young professionals, couples, and families in the Brisbane area, as well as students from the city's many universities and colleges. Additionally, there are many people who work in the city who may be interested in renting a property close to their workplace.
Here is a little summary table we've made for you.
| Property type and area | Profiles of potential tenants | What they are looking for | Expected monthly rent in $ |
|---|---|---|---|
Apartment in Brisbane CBD | Professionals, students | Central location, access to amenities | $1500 - $3000 |
House in Paddington | Families, young couples | Charming suburb, cafes, parks | $2500 - $5000 |
Unit in West End | Artists, students | Hipster vibe, cultural scene | $1200 - $2500 |
Townhouse in New Farm | Young professionals, families | Riverfront living, cafes, events | $2000 - $4000 |
Apartment in South Bank | Tourists, students | Cultural precinct, entertainment | $1300 - $2800 |
House in Balmoral | Families, professionals | Quiet neighborhood, river views | $3000 - $6000 |
Unit in Kangaroo Point | Young professionals, couples | City views, proximity to CBD | $1800 - $3500 |
Rental yields
As of today, rental yields in Brisbane are within the 3-4% range. It's low. A good rental yield generally falls within the range of 7% or more.
In Brisbane, rental yields are typically highest in areas with strong employment opportunities, such as the CBD, and areas with lower median house prices, such as the outer suburbs. This is because these areas attract higher demand for rental properties, leading to higher rental prices and higher yields.
For further explanation and a more detailed breakdown, you can check the reports and analyses we have made.
Short-term
You could also decide to rent short-term to business travelers coming into Brisbane for conferences, meetings, or other work-related activities. Additionally, you could rent short-term to tourists visiting Brisbane for its many attractions, such as the Brisbane River, South Bank, and the Story Bridge.
If you decide to go with that option, look for properties in West End, South Brisbane, and Fortitude Valley for their close proximity to the city centre and tourist hotspots. Additionally, suburbs such as New Farm and Paddington, which are popular for their trendy cafe culture and nightlife, may be good options.
Currently, there are approximately 6,000 active Airbnb listings in Brisbane, reflecting a highly dynamic and bustling short-term rental market. The average daily rate stands around $160, which is quite high.
You have the opportunity to generate a nice additional income stream then. According to online testimonials and analytics platform like AirDNA, Guesty and Inside Airbnb, people who offer short-term rentals in Brisbane can make around $2400 per month. Also, the average occupancy rate is estimated at 82%.
Is it worth buying real estate in Brisbane then?
Buying a property in Brisbane can be a savvy move, but it's not a one-size-fits-all decision. If you plan to settle down in Brisbane for the long term and want to build financial security, it's a smart move.
Brisbane's stable real estate market, lower property prices compared to cities like Sydney, and projected economic growth make it a promising investment. Plus, the city's outdoor lifestyle and pleasant climate are enticing for potential tenants or future buyers.
If you're seeking rental income, Brisbane offers opportunities, especially if you target young professionals, students, or tourists, as rental yields can be attractive in certain areas. Additionally, the potential for short-term rentals in Brisbane's bustling market can provide an additional income stream.
However, buying property in Brisbane might not be the best choice if you're planning a short-term stay, have an uncertain financial situation, or are working with a limited budget. In such cases, the upfront costs and potential expenses associated with buying and selling may not justify the investment.
Foreign buyers should also be aware of restrictions and taxes. Moreover, Brisbane's subtropical climate presents environmental challenges like termite infestations, which can add to ownership costs.
Lastly, if you lack knowledge about the ever-changing property market or access to reliable information, making informed investment decisions may prove difficult. So, while Brisbane offers exciting opportunities in real estate, carefully assess your circumstances and objectives before taking the plunge.
Make sure you understand the real estate market in Brisbane
Don't rush into buying the wrong property in Australia. Sit, relax and read our guide to avoid costly mistakes and make the best investment possible.
The content provided here is for informational purposes only and does not imply endorsement or advice. While we strive for accuracy, we do not guarantee the completeness or reliability of the information, including text, images, links, or other elements in this material. Following the content and analyses presented here does not assure specific outcomes. For guidance tailored to your individual circumstances, it is recommended to consult with a professional, such as a lawyer, accountant, or business advisor.