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New analysis has identified a number of suburbs where you can buy a home for much cheaper than the neighbouring suburb. Picture: Richard Walker.
BRISBANE’S best ‘bridesmaid’ suburbs have been revealed, with new analysis identifying the cheapest alternatives to more expensive suburbs offering a similar lifestyle for less.
New analysis from PropTrack identifies 21 Greater Brisbane suburbs where homebuyers could save hundreds of thousands of dollars.
BRIDE SUBURB: This five-bedroom property at 98 Park Tce, Sherwood, is scheduled for auction.
BRIDESMAID SUBURB: This three-bedroom property at 67 Marshall Rd, Rocklea, is on the market for $620,000.
A typical home in the Brisbane suburb of Sherwood will set buyers back around $1.35m, according to PropTrack, but a home just 4km further south in Rocklea will cost less than half that, with a median sales price of just $457,500.
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Similarly, the median home price in Brisbane’s most expensive suburb of Teneriffe is currently a whopping $3.85m, but minutes away in Spring Hill, where the median is $1.36m, savvy buyers can expect to pay a third of that price.
BRIDE SUBURB: This five-bedroom property at 33A Beeston St, Teneriffe, is on the market for $3.95m.
BRIDESMAID SUBURB: This three-bedroom property at 77 Kennigo St, Spring Hill, is scheduled for auction.
The data also identifies Paddington as a ‘bride’ suburb, with a median home price of $1.725m, and Ashgrove as its ‘bridesmaid’ suburb with a median sales price of $1.48m.
Dimitri and Holly Stephanos have just sold their home in Paddington for $3.05m to relocate to a bigger property in a more affordable suburb to accommodate the arrival of their second child in a few weeks.
Dimitri and Holly Stephanos with two-year-old Leonard at the Paddington home sold to move to the ‘bridesmaid’ suburb of Ashgrove. Picture: Richard Walker.
The couple, who already have son Leonard, 2, have bought a larger home on a bigger block in Ashgrove for a similar price to what they have achieved for their property at 70 Upper Cairns Terrace.
“We’re going to that area to take advantage of being able to get more bang for your buck,” Mr Stephanos said.
“We’ve gone from a steep, 506 sqm block to an 809 sqm, flat double block.
BRIDE SUBURB: This property at 70 Upper Cairns Tce, Paddington, has just sold for $3.05m.
BRIDESMAID SUBURB: This three-bedroom property at 19 Elimatta Dr, Ashgrove, recently sold for $850,000.
“For what we’ve bought, you could easily add $1m to the price if it was in Paddington, and we’re literally a five minute car ride away. I can’t get over the difference in prices.”
A partner and buyers agent for PMC Properties, Mr Stephanos said Paddington’s location was a key selling point, with the house an easy walk to Suncorp Stadium and an array of dining options.
Last year, Graya managing director Rob Gray sold his house in the same street — Upper Cairns Terrace — for an eye-watering $8.2m.
Mr Stephanos sold the four-bedroom character home through Place Paddington agent Sacha Hennessy.
BRIDE SUBURB: This three-bedroom property at 48 Aspire St, Rochedale, is for sale for between $1.25m and $1.3m.
BRIDESMAID SUBURB: This three-bedroom house at 17 Sunningdale Ave, Rochedale South, is on the market for offers over $840,000.
21 BRIDESMAID SUBURBS WITHIN 20KM OF BRISBANE’S CBD
Suburb Median price Sister suburb Median price
1. Sherwood, $1.35m, Rocklea, $457,500
2. Teneriffe, $3.85m, Spring Hill, $1.365m
3. Pullenvale, $2m, Kenmore, $1.02m
4. Bunya, $1.6m, Keperra, $820,750
5. Robertson, $1.7m, Salisbury, $910,000
6. Ascot, $2.16m, Wooloowin, $1.17m
7. Grange, $1.62m, Stafford, $920,000
8. Seven Hills, $1.62m, Carina, $1.05m
9. Brookfield, $1.61m, The Gap, $1.05m
10. Clayfield, $1.65m, Kedron, $1.08m
11. Paddington, $1.73m, Ashgrove, $1.48m
12. Chandler, $2.5m, Capalaba, $750,000
13. Bridgeman Downs, $1.275m, Brendale, $407,500
14. Stretton, $1.31m, Woodridge, $470,000
15. Gumdale, $2.05m, Tingalpa, $820,000
16. Rochedale, $1.54m, Rochedale South, $790,000
17. Bridgeman Downs, $1.275m, Fitzgibbon, $673,000
18. Kuraby $875,000, Woodridge, $470,000
19. Camp Mountain, $1.57m, Ferny Hills, $875,000
20. Heathwood, $853,000, Ellen Grove, $535,000
21. Sandgate, $1.09m, Bald Hills, $690,000
(Source: PropTrack)