Houses at Pacific Pines, Gaven
Despite an astronomical surge in annual prices, the Gold Coast has topped a list of the best suburbs for budget conscious buyers looking for homes under $610,000.
New data commissioned by home relocation tech company Hood.ai saw surprising results when it sought to find the best suburbs for budget conscious buyers under $610,000.
The results covering the capital city region – stretching from Ipswich to the Gold Coast – saw the coast dominate the top five despite the area having gone through one of Queensland’s biggest price and demand surges over the past year.
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To get in there at that price range though, buyers in suburbs in the top five need to be willing to buy apartments not houses, with each of the Gold Coast area in there off their units medians.
Affordable and desirable suburbs like Pacific Pines are on the hotlist for buyers.
Pacific Pines – located 62km from the Brisbane CBD – was at the top with a median sale price of $477,000. followed by Highland Park with a unit median sale price of $500,000. Reedy Creek – 78km from the Brisbane CB D with a median unit price of $526,500 was third, followed by Mudgeeraba ($570,000, 78km from CBD) and Carrara ($570,000, 62km from CBD).
Hood CEO Tommy Fraser said the data looked at suburbs that struck a balance between being affordable and desirable.
He said there were still some sales and rental markets that were “not only affordable but also good places to live”.
Suburbs more than 100km from the Brisbane CBD were excluded, as were those with fewer than three properties for sale.
The sixth to eighth spots in the top 10 were made up of houses in Forest Lake ($580,000, 14km from CBD), Fitzgibbon ($600,000, 15km to CBD) and Doolandella ($603,000, 14km to CBD), with the list rounded out by Mooloolaba units ($608,000, 86km to CBD) and Mount Coolum units ($610,000, 86km to CBD).
Housing affordability was “a hot button topic” with the federal election campaign in full swing, Mr Fraser said.
“It’s no wonder both sides of politics are talking about affordability, because the housing market is a tough place right now for people on average salaries.”
“Buyers have to deal with the fact prices have dramatically increased throughout Brisbane and Queensland over the past 18 months, while tenants are faced with very low vacancy rates in many parts of the state.”
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