New data shows Brisbane houses out of reach for homebuyers

Brisbane suburbs have once again failed to make the list of the most popular suburbs for Queensland house sales, in the latest property report.

InfoTrack’s Property Market Update Q4 2023 has named the suburbs with the highest volume of house sales from 1 October to December 31 last year – and for the fourth consecutive quarter, not a single Brisbane suburb featured.

InfoTrack’s Head of Property Australia, Lee Bailie, said it shows city living is out of reach for many homebuyers.

“Houses are the most popular property type in Queensland, but the reality is, buying a house in Brisbane is expensive, with the median price now well over $700,000. This has led to more and more people purchasing in regional areas,” Mr Bailie said.

The Townsville suburb of Kirwan had the highest volume of house sales in Q4, followed by Caboolture, a major urban centre 44 kilometres north of Brisbane, and the Sunshine Coast’s Buderim rounding out the top three.

The township of Narangba in Moreton Bay made its very first appearance on the Top 10 list, debuting at number seven.

While the data shows Brisbane has not featured in the top house sales for 2023, it’s a different story for unit sales, with 50 per cent of the suburbs with the highest volume in the River City.

Notable is the significant rise in popularity of inner-city Newstead, going from number nine in Q3 to number four, in Q4 for unit sales.

South Brisbane came in at number two, followed by Brisbane City at number three, Newstead at four, West End at five, and Fortitude Valley at number nine.

The Gold Coast region continues to dominate unit sales, with Surfers Paradise in clear first position – a position it has held for two consecutive years.

“Iconic Surfers Paradise, with its appealing beachside lifestyle, has further cemented its standing as a thriving property hotspot in Queensland,” Mr Bailie said.

Four other Gold Coast suburbs made the top 10 list for unit sales, including Hope Island at number six, Southport at seven, Palm Beach in eight position, and Mermaid Beach at 10.

The full report can be viewed here.