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21 Jan, 2021

What Your Money Can Buy In Brisbane Right Now

Brisbane, also known as the River City of Queensland, is an infrastructurally advanced, affordable, and friendly city. It is an economically sound city reckoned for its modernity, excellent communities, and abundant work opportunities. The city is a hub for students, working professionals, artists, writers, and families. Over the years, Brisbane has witnessed a significant inflow of people from other parts of Queensland, Sydney, and New South Wales.

According to data by the Australian Bureau of Statistics, Brisbane has the highest net migration increase among all capital cities. Therefore, if you are considering moving to Brisbane, you are not alone. This city has both expensive and affordable housing areas, and depending on your income, you can choose to live in any.

Besides the cost of packing, travelling, booking removalists in Brisbane, and other expenditures, to help you manage your housing expenses in Brisbane, here is your complete moving guide. Brisbane, also known as the River City of Queensland, is an infrastructurally advanced, affordable, and friendly city. Read to know the best areas to live in the city, their median house price/rent, and more useful information.

Cost of Living in Brisbane

Brisbane is the capital of Queensland and compared to other capital cities like Sydney and Melbourne; it’s more affordable. There are about 901,797 private dwellings in Greater Brisbane and the median rent per week is $355 for tenants and median mortgage repayment per month is $ $1,861.

Migrants are more likely to rent a house or apartment in Brisbane, and if your monthly income is medium to low, the Queensland government lends a helping hand via the National Rental Affordability Scheme. It allows a reduction in rental costs and increases the availability of affordable rental houses. You can check your eligibility for the scheme and ensure your household income doesn’t exceed the minimum income limit while applying.

The Best Suburbs to Live in Brisbane

Brisbane has a host of suburbs with varying housing options and affordability. In the city, you can find cheap houses/apartments and luxury real estates too. Depending on your income, you can choose to live in any of the following suburbs in the city. Take a look at the median prices of housing options in these suburbs to create your budget for relocating, hiring removalists in Brisbane, packing and other moving-related tasks.

Indooroopilly

This suburb is a great place to live for families, students and working professionals since it has great schools, excellent connectivity, and many places for entertainment/leisure. It is only seven km away from the central business district (CBD). Here is an overview of its median housing affordability.

• House for buying: $757,500 (3BR)
• House for renting: $500/week (3BR)
• Apartment for buying: $595,000 (3BR)
• Apartment for renting: $525/week (3BR)

East Brisbane

This suburb is known for its proximity to the CBD, restaurants, friendly neighbourhoods, excellent schools, and much more. It is close to places of work, entertainment, health, sports, art, culture etc. The median prices for this suburb are listed as follows.

• House for buying: $819,500 (3BR)
• House for renting: $560/week (3BR)
• Apartment for buying: $415,000 (2BR)
• Apartment for renting: $380/week (2BR)

ochedale South

Rochedale South is an affordable suburb in Brisbane that is often the preferred place to buy or rent a property by new migrants to the city. It is well connected via the Pacific (M1) Motorway, and it is an excellent place to raise a family. It’s median property rates are listed below.

• House for buying: $513,250 (3BR)
• House for renting: $420/week (3BR)
• Apartment for buying: $324,750 (3BR)
• Apartment for renting: $305/week (2BR)

Russell Island

Are you looking for a cheap housing market? Then look no further than Russell Island, where you can find affordable properties and a great neighbourhood. It is a hidden gem of Brisbane that is known for its peace, greenery, and well-structured houses. Here you can find excellent housing options with the following median rates.

• House for buying: $230,000 (3BR)
• House for renting: $270/week (3BR)

Coorparoo

Who doesn’t want to settle, work, or raise a family in a peaceful, safe and green area? Coorparoo is an excellent suburb to settle in, especially if you are a working professional or raising a family. It is about 5 km from the CBD, well connected, and surrounded by good schools, shopping centres, parks, etc. Its median housing rates are listed as follows.

• House for buying: $821,000 (3BR)
• House for renting: $495/week (3BR)
• Apartment for buying: $512,750 (3BR)
• Apartment for renting: $500/week (3BR)

Wrapping Up

Brisbane is a beautiful, peaceful, and thriving capital reckoned for its affordability compared to Sydney and Melbourne. If you have decided to move to Brisbane, this moving guide will help you know which areas to consider. Refer the guide to buy or rent a property in Brisbane without any hassle and manage your budget for travel, hiring removalists in Brisbane, packing, and other moving-related tasks.