Madelyn and Paul Clarkson are selling in Victoria Point, the bay on the edge of Brisbane’s suburbs, where house prices exceeded the $1 million median for the first time.
A new crop of under-the-radar suburbs has cracked Brisbane’s million-dollar club, as buyers look for value and the opportunity to build custom homes that are redefining the city’s outer edge.
House prices in fourteen suburbs have reached the seven-figure median for the first time, including coves such as Victoria Point and Thorneside, along with family hubs such as Geebung, Shailer Park and Underwood.
According to the latest data from Place Advisory, Victoria Point is in the lead, with house values rising 15.6 per cent in the past 12 months to $1.045 million.
South of Brisbane’s CBD, prices in Coopers Plains reached $1.21 million, an annual growth of about 20 per cent.
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House prices in 14 Queensland suburbs topped $1 million for the first time this year
The outer eastern suburb of Wynnum West was another coastal hotspot, with prices rising 12 per cent to $1 million, but newly renovated homes in the area were selling for double the average value.
And the number of first home buyers in Logan and Ipswich also increased, with fierce competition for affordable property making big gains in Daisy Hill, Karalee, Kurwongbah, Park Ridge South, Munruben and Cornubia.
The CEO of Ray White AKG Group called the emerging suburbs “Brisbane’s new lifestyle heartland”.
“Once the domain of first home buyers and savvy investors, these areas are now the playground of professionals and upgraders seeking space, lifestyle and value with larger blocks, 45 minutes to the city and the Gold Coast,” Mr Khan said.
A five-bedroom home with a pool at 118 Plaintain Rd is one of the most expensive homes in Shailer Park
“One million dollars no longer buys luxury, but a foothold in suburbs that have completely reinvented themselves.
“Infrastructure, education and lifestyle have collided with limited supply and record migration to push these zip codes into the big league.”
Closer to the city, leafy Kenmore rounded out the multimillion-dollar new markets, with recent sales in the sought-after pocket including a two-story modern home trading for $2.415 million.
Place Cleveland agent Emma Miller said Victoria Point was once considered Brisbane’s best-kept secret on the bay, but had become one of the fastest growing luxury enclaves in the region, with homes selling on average in just over 30 days.
57 Innes St, Geebung goes under the hammer on October 26
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“We are seeing Brisbane buyers making a purposeful leap towards Victoria Point as they can achieve waterfront living, space and bespoke design for what they would pay in a highly contested inner-city suburb,” Ms Miller said.
“This is no longer the sleepy Redlands it used to be. Victoria Point is now a design-driven lifestyle destination competing head-on with Brisbane’s prestige belt.”
As Redland City prepares for major Olympic infrastructure before 2032, Victoria Point’s proximity to schools, shops and waterfront amenities attracted professionals, families and downsizing businesses, Ms Miller said.
Victoria Point sellers, Madelyn and Paul Clarkson, put their recently completed waterfront home up for auction on November 2.
1 Orana Esp, Victoria Point will be auctioned on November 2
They paid $710,000 for the vacant site on Orana Esp in 2019 and built a showstopper home that capitalized on the area’s rising popularity with ambitious buyers.
“We wanted this house to belong to the land and the water,” said Ms. Clarkson, an interior designer.
“Every detail, from the joinery to the installation of glass, was about framing the bay and catching the wind.”
Mr Khan said cafes, schools and businesses in Logan and Ipswich were also moving up a level to match the demographic shift, with buyers from Sydney and Melbourne outbidding locals – 67 per cent of recent interstate buyers had bought sight unseen.
“Families are getting bigger instead of moving closer together, and investors are returning as rents rise.
“There is intense competition for renovated homes and even more so for homes that need renovations,” he said.
Best deals for this house at 52 Kingfisher Pl, Kenmore close on October 22nd
National buying agency Propertybuyer and Hotspotting has released a separate selection of ten more suburbs set to tip over into multi-million dollar territory, including Northlakes, where the current median of $924,000 has risen 14 per cent since last year, and Biggera Waters on the Gold Coast.
Rich Harvey, chief executive of Property Buyers, said the government’s recent push into low deposit schemes for first home buyers could accelerate price growth in emerging hotspots until 2026.
“You will see so many more buyers trying to get onto the property ladder,” Mr Harvey said.
“Brisbane and Melbourne are both cities where there is still plenty of petrol in the tank, but the next price limit is looming.
“Soon we’ll have to talk about the $1.5 million hotspot,” he said.
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