Brisbane house prices have seen an unprecedented surge over the past two years, making it difficult for first time homebuyers to enter the market.
However, if you are willing to explore your options you can find houses below the median house price in Brisbane. These properties can typically be found in suburbs that still provide affordable housing solutions for first homebuyers.
Table of Contents
1. Location
As one of the premier property markets in Queensland, Brisbane home is in high demand and any home situated in a sought-after neighborhood should be evaluated on this basis alone. Affinity to location will help determine if it’s right for you or if another option should be pursued.
It is particularly essential if you plan to purchase a luxury home in a city. An experienced real estate agent should assist in the transaction and help guide the process efficiently.
Size can have a substantial effect on a Brisbane house’s sales price, so it is crucial that you are clear about its dimensions and consider if an additional room would meet your needs.
Especially if you are searching for a luxury house in Brisbane’s central business district (CBD), but also consider other locations around town; depending on your budget and lifestyle preferences, properties in Balmoral, Bulimba, Palm Cove or Paradise Point could be appropriate options to consider.
2. Size
When purchasing a house, size should be one of your main considerations. House sizes can be defined based on several factors including site area, floor space and number of bedrooms – these measurements can either be expressed as square metres or feet.
Australia is leading the world in building bigger houses than the US according to CommSec’s Home Size Trends report. The average Australian freestanding house increased 0.9 per cent year-on-year and reached 230.8 square metres – its highest level since 2011.
However, apartments are increasingly popular as an effective way to gain more living spaces within homes. According to CommSec’s report, apartment sizes increased by 6 percent year over year – hitting an all-time high of 136.8 square metres.
3. Features
Brisbane houses are distinguished by a number of characteristics unique to this region, such as deep-shading external verandahs which are typically found on Queensland properties.
These verandahs offer shelter from the intense summer sun and rain while acting as effective breeze catchers to promote natural ventilation throughout the house.
Your connection with nature and an appreciation of Brisbane’s environment.
Brisbane City Council takes measures across its planning scheme to protect Brisbane’s cultural identity, with measures designed to preserve its traditional building character (TBC).
Properties with Traditional Building Character (TBC) can be identified on the Traditional Building Character Overlay Map. When renovating or maintaining properties with TBC, prior to beginning work on them you must obtain development approval first.
4. Price
There are various factors that influence the price of a house. These include location, size and features.
Real estate prices depend heavily on the balance between supply and demand for homes in an area. When there are more properties for sale than people looking for one in that location, prices will typically decline as inventory exceeds demand for purchases in that market.
Brisbane home prices have skyrocketed over the years due to more people moving there to take advantage of job opportunities and quality-of-life considerations.
However, the rise in prices has also brought with it some unexpected obstacles. Rising interest rates and their uncertainty has caused buyers to become more wary, leading to decreased buyer confidence and attendance at open homes and auctions.