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Brisbane’s most in-demand commuter suburbs

How much would you pay for a house within 20kms of the city?  Brisbane’s most in-demand commuter suburbs range in median price from $730,000 – $2,105,000, new data reveals.

Gordon Park is our region’s most in-demand commuter suburb with 1,761 visits per property on realestate.com.au/buy for the six months to 31 May 2017. Located just 5 km from Brisbane’s CBD and with great schools nearby, it’s easy to see why buyers favour this northern suburb. That demand has resulted in a median house price of $797,000.

Nearby Alderley is the second most in-demand commuter suburb in our region with 1,358 visits per property on realestate.com.au/buy. The inner northern suburb offers buyers a great lifestyle with a comparatively affordable median house price of $720,000.

At number three on the list is Stafford Heights which is only 8kms from the CBD and it received 1,286 visits per property on realestate.com.au/buy over the same period.

The visits per property come from REA internal data and the median price data is from CoreLogic for the 12 months to 31 May 2017.

Commuter suburbs are defined as areas located between 10-25km of a CBD.

The top ten most in-demand commuter suburbs are all big on lifestyle, according to REA Group Economist Nerida Consibee.

Village Buzz in demand suburbs

” … these are high demand areas and there are far more people looking than listing – that’s a consideration. They are more expensive for that reason. It shows the suburbs where people want to live and all that demand is really pushing up prices,” she says.

Low-interest rates also affect demand and prices in these areas as buyers opt to purchase at the top end of the budgets.

“With debt being so cheap, people are prepared to take on bigger loans. That’s what the Reserve Bank is worried about, people wanting to get the best home that they can afford and at the moment they can borrow quite a lot to get that,” she says.

Most of the suburbs that made the list are near the bus or rail lines, meaning that transport is driving demand to commuter ‘burbs.

“Schooling is also a factor,” Consibee says with many of the areas in the top ten located in or near to the catchment zones for high-performing high schools.

Development opportunities in these areas are something investors and savvy buyers may also want to consider as many of these suburbs have larger blocks and could be subdivided if the local council allows it.

“Certainly there are townhouses, but not a lot of apartments so this suggests that this is something that could be considered because they are very popular and they are quite expensive areas,” she says.

Source: Realestate.com.au

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