The 10 best suburbs in Brisbane for first home buyers

Find out which suburbs in Brisbane made the top 10 list in Canstar’s Bright Starters Australian First Home Buyer Report powered by Hotspotting.

There are plenty of great locations in Brisbane where you can buy a home for less than $517,000. This was the cut-off price we used to come up with our ‘Bright Starter’ suburbs in the Queensland capital. (For more on why we chose this see our full report.)

Of course, price isn’t the only consideration for first home buyers. A good lifestyle and prospects for growth should also be on the checklist. In Canstar’s inaugural Bright Starters Australian First Home Buyer Report we used five key metrics – sales volumes, price growth, vacancy rates, infrastructure and proximity to work and amenities – to identify suburbs that are desirable and likely to grow in value over time. Check out our list below.

The 10 best suburbs in Brisbane for first home buyers

• Annerley (Units)
• Bundamba
• Caboolture
• Clayfield (Units)
• East Ipswich
• Edens Landing
• Goodna
• Inala
• Redcliffe (Units)
• Woodridge

Annerley (Units)

Brisbane was a rising market before the Olympics announcement, but the decision takes its appeal to another level. Research into previous host cities indicates the suburbs near the main venues have the biggest price growth. Annerley is near The Gabba, which will undergo a $1 billion transformation. It has road and rail links to the CBD, Princess Alexandra Hospital and proximity to Queensland University. Houses are beyond first home buyer reach but units are attainable.

Bundamba

Ipswich City offers the best affordability in the Greater Brisbane Area, as well as a growth economy and plenty of jobs. Bundamba is one of the cheapest Ipswich suburbs, despite big growth in the past year, but offers plenty including a station on the train line to Brisbane. Rental vacancies are close to zero, another indication it’s popular for people on a tight budget.

Caboolture

The Moreton Bay Region, which comprises the outer ring suburbs in the north of the Greater Brisbane Area, is a growth area with a vibrant local economy and plenty of jobs. Caboolture is a key hub, with health services, retail, sports facilities, TAFE campus, lots of schools and colleges, and rail linking north to the Sunshine Coast and south to Central Brisbane. Demand is high and prices are surging.

Clayfield (Units)

This is one of Brisbane’s prestigious near-city suburbs, where the median house price is north of $1.5 million. But for about a quarter of that price, first home buyers can buy the median-priced unit. This makes Clayfield’s unit market highly popular and there are considerably more unit sales than house sales. Clayfield is one of Brisbane’s best-connected suburbs, with access to train stations, while Airport Link and Inner City Bypass are nearby.

East Ipswich

A key feature of Ipswich City is affordability, good amenities and plenty of jobs. East Ipswich is well-placed for all those criteria. It’s an older suburb, with a good supply of cute Queenslanders on large blocks of land. It’s close to the employment and amenities offered by the Ipswich CBD, Ipswich Hospital and Amberley RAAF Base. Those needing to get to Brisbane have a nearby train station.

Edens Landing

This nicely located suburb offers lots of cul-de-sac dwellings with prices in the $400,000s. It’s halfway between the Gold Coast and Brisbane, with good transport links – it’s on the train line and Brisbane-Beenleigh Road, which connects to the Pacific Motorway, near the intersection with the Logan Motorway. Edens Landing is a neighbour of Beenleigh, a key commercial centre of Logan City, so there are plenty of jobs.

Goodna

Ipswich is a big LGA and Goodna is situated on its eastern fringe – that is, closer to Brisbane. It’s on the train line and the Ipswich Motorway, not far from the Logan Motorway. Goodna is also close to the Springfield master-planned community, with its retail and commercial precincts, plus university campus and private hospital. Goodna has Queenslander homes on large blocks, so there’s potential to add value after buying affordably.

Inala

Inala is arguably the most stigmatised suburb in the Greater Brisbane Area – decidedly downmarket with social problems. But in real estate, things change. Inala is being targeted for its affordability, location and amenities. It’s only 17 kilometres from the Brisbane CBD via the Centenary Motorway or the Ipswich Motorway. It has major shopping and community services, and there are plenty of schools. Nearby industry provides lots of jobs.

Redcliffe (Units)

Formerly regarded as downmarket with a daggy image, the Redcliffe Peninsula has been transformed in the past decade. There’s been an injection of modern dwellings, waterfront amenities and café culture. The establishment of rail links to central Brisbane enhanced the Peninsula’s appeal and the Newport canal residential suburb has raised the tone. Now Redcliffe is sought for its bayside lifestyle and relative affordability, including affordable apartments with water views.

Woodridge

This affordable location in Brisbane’s south ticks many boxes. It’,s on the commuter train line and has ready access to the Pacific Motorway and the Gateway Motorway. It’s next to major green space and to all the facilities in Logan Central. There are lots of schools. It’s part of Logan City, which has many employment nodes, halfway between Brisbane and the Gold Coast. All that and houses in the $300,000s.

The best suburbs in Brisbane for first home buyers

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Sources: Median price, growth and median rent: CoreLogic as at 1 February 2022. Initial outlay, time to save and repayment data: canstar.com.au as at March 2022. (U) stands for units. *Initial outlay includes the deposit, stamp duty, transfer fee and mortgage registration fee.  ^Time to save calculations are based on the time required to save up the initial outlay costs with the average income (ABS Personal Income by greater capital city statistical area, adjusted by ABS Wage Price Index, June 2021). Calculations assume that 20% of after-tax income is saved each month, earning a savings rate of 0.62% (average bonus savings rate over the past 12 months to 1/03/22). 2021/22 tax rates plus the 2% Medicare Levy are applied to the annual income and savings interest, and inflation of 2.5%pa is applied to income and property price. Dual income calculations assume there are two savers with the average income. Actual time to save will vary depending on your individual circumstances as well as the rate of property growth.  +Repayment calculations assume principal and interest repayments over a 30-year loan term with an interest rate of 3.36% (average owner-occupier variable rate over the 12 months to 1 March 2022). LMI for an owner-occupier first home buyer (per Genworth LMI Premium Calculator) is included in the loan amount for the 10% deposit monthly repayment calculations. For initial outlay, time to save and repayment data based on a 20% deposit download the full Bright Starters report.

Cover image source: Martin Valigursky/Shutterstock.com

About Terry Ryder

Terry is the founder and Managing Director of hotspotting.com.au, which he created in 2006 to help investors find the best places to buy. Terry has been a specialist researcher and writer on Australian residential property in a career spanning four decades. During that time he has published four books.

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