The top five suburbs in Brisbane for young families, where house prices fall below the city average, have been unveiled.
Latest data highlights these sought-after areas, which not only offer affordability but also meet the criteria of parents prioritising living near good schools, parks, and entertainment options, along with convenient access to the CBD and public transport.
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A four-bedroom house at 1 Hallvard Cres, Augustine Heights sold for $775,000
Banyo in the city’s north was top-ranked, with a median house price of $872,00 and ratio of families to other homeowners of 27.7 per cent.
Rounding out the top five list by Place Advisory were: Murarrie (house price $992,000), Upper Kedron ($995,000), Middle Park ($925,000), and Chermside West ($875,000).
A typical house in each of the hotspots came in under the Brisbane LGA median of $1.05m, while family-friendly picks were also identified in the booming Greater Brisbane regions of Ipswich, Logan and Moreton Bay.
This home at 97 Tanglewood St, Middle Park sold for $895,000
Place’s survey found the number one factor common to families choosing where to live across Greater Brisbane was proximity to schools, whether being located in the catchment zone of well-regarded state schools, or close to private colleges.
The top suburbs also represented good value for money in comparison to neighbouring areas closer to the CBD.
Place New Farm managing director Sarah Hackett said cutting down on commute time to work, school and recreational activities was a high priority for busy families.
Place managing director Sarah Hackett
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“For many families now you have both mum and dad working, you are stretched for time, and having work and school closer to home has never been more needed,” Ms Hackett said.
She noted more families were opting for new or fully renovated homes over older houses, while a peak buying time was before the start of a new school year.
“Part of our [marketing] plan when we sell a house is to let parents of the schools in the area know. It always happens that there is a big surge at the beginning of the year, when people start thinking about commuting 40 minutes to get to school and the anxiety that comes with that.”
This Murarrie townhouse was marketed at offers above $899,000 and recently went under offer
PropTrack data shows houses in top-ranked Banyo were in hot demand, with 1539 buyers interested in every property listed, but just 77 houses sold in the past 12 months. House prices climbed 7.8 per cent in the suburb over the past year.
Recent sales in Banyo include a renovated low-set three-bedroom home on a 430 sqm lot, marketed as a “family starter” and snapped up for $885,000.
A 2020-built four-bedroom house on a 511 sqm block, described as a “luxury barn-inspired home”, sold for $1.591m.
Brisbane’s affordability trend for young families was reversed in the city’s outlying regions, where most of the sought-after suburbs were priced above the LGA median.
PropTrack’s latest Market Insight report shows surging demand in these areas, as househunters have widened their search on the back of huge growth in Brisbane, where prices have soared 63.1 per cent since the start of the pandemic in March 2020.
Ipswich was the second top-performing SA4 region in Australia, with home prices up 79.7 per cent over the same period, while Logan-Beaudesert (up 74 per cent) and Moreton Bay — North (up 69.6 per cent) were also among the strongest regional markets.
PropTrack senior economist Eleanor Creagh
“Coastal and regional areas, along with Brisbane and Adelaide, benefitted most from affordability advantages and pandemic-induced preference shifts resulting in surging property prices,” PropTrack senior economist Eleanor Creagh said.
Ms Creagh said the market had cycled through different phases since, but remained on an upward trajectory since January 2023.
“Home prices fell as interest rates quickly climbed.
“However, as net migration hit record levels, insufficient housing supply coupled with strong demand offset the higher interest rate environment and deterioration in affordability.”
A Cannon Hill townhouse for sale
Place Advisory named Augustine Heights as Ipswich’s top pick for young families.
The median house price in Augustine Heights is $770,000, compared with $585,000 for Ipswich LGA.
Springfield Lakes and Ripley were also popular.
Herron Todd White director David Notley said Ipswich’s appeal for “aspirational buyers”, including young families and singles, had risen dramatically in recent years.
Mr Notley put this down to affordable housing and larger lots on offer.
“Also, a program of upgrades in facilities and infrastructure, as well as general gentrification throughout the local authority area, has seen Ipswich’s appeal grow,” he said.
“Steady capital growth” over the next 12 months was predicted for detached housing in the city.
Logan’s top pick for young families was Woodhill (median house price $815,000), and in Moreton Bay, Albany Creek ($916,000).