Revealed: The race for Queensland’s cheapest suburbs

Queensland homebuyers are still snapping up bargains despite surging prices, with fresh data showing 20 suburbs still priced under $220k, and many more under $500k.

But the clock is ticking, even as PropTrack’s September Market Trends report revealed eye-watering deals from Brisbane to the Gold Coast, Townsville, Cairns and deep into the regions where homes in areas like Dirranbandi can still be had at a median price of $86,500.

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Two homes, pool, beach – sold for just $340k 10km from CBD

REIQ CEO Antonia Mercorella said affordable suburbs had surpassed old reputations that held them back previously. Picture: Liam Kidston

While Greater Brisbane’s house median has rocketed past $1 million, it’s still shockingly possible to get a foothold below $300k, especially in the Logan-Beaudesert and Ipswich corridors which have long been the affordability anchors of the Queensland capital.

Leading the pack is Kooralbyn, where units sit at a jaw-dropping median of $285,000, less than a third of Brisbane’s house level. Other suburbs like Park Ridge ($387,500), Logan Central ($400,000) and Mount Warren Park ($425,555) are still considered prime entry-level options, especially with rental yields above 5 per cent for investors.

But these suburbs may not stay cheap for long, with PropTrack data showing some prices already rising by more than 30 per cent in a year, and rental yields hitting 7.11 per cent in places like Park Ridge.

Real Estate Institute of Queensland CEO Antonia Mercorella said many affordable suburbs were carrying old local reputations that no longer reflect today’s market.

“We are hearing first home buyers are increasingly looking further afield for housing options they can afford in the outer suburbs, readjusting their expectations around their preferred suburbs and perhaps recognising potential for growth and gentrification over time.”

She said “it can help to get to really know a suburb, rather than relying on stereotypes”.

Greater Brisbane’s 20 cheapest suburbs. Source: PropTrack Market Trends Sept 2025.

Experts believe this lower quadrant of the market – long dismissed for crime, flood risk or socio-economic stigma – may hold the strongest growth potential in Queensland, simply because they have the most room to catch up.

Ray White Townsville agent Lisa Turner said the bargain buying frenzy isn’t just isolated to the South East with north Queensland swept up in the same sub-$400k surge, particularly for well-maintained, move-in-ready homes and units.

Ms Turner, who recently sold two townhouses in a high-demand complex in Hermit Park, said both drew multiple offers from a broad range of buyers – with a 146sq m two-bedder selling for $392,000 on September 10.

“That $400,000 price range is now extremely hard to find without needing extensive work,” she said. “That’s why you get multiple offers straight away.”

Lisa Turner sold this townhouse for $392,000 on September 10, 2025.

In Brisbane, Golden Forest Property principal Daniel Wong said many once-affordable suburbs have now priced out first-home buyers.

“In some areas, $500,000 can’t even buy a block of land now,” he said. “More government assistance is needed to help buyers get a foot in the door.”

Meanwhile, JJ Property’s Peter Evans recently sold a 19sqm studio apartment in Brisbane for $244,000, noting prices have jumped $100k–$130k in just two years.

“It’s mostly investors,” he said, with lending for studios generally prohibitive for first home buyers. “The next cheapest one-bedder I’ve got is $420,000 – but at 50sq m.”

Ms Mercorella said buyers were responding to surging demand and tight housing supply by redefining what a first home looks like, choosing units or properties that need renovation, seeking help from family or government schemes to get purchases over the line.

Ms Turner said local buyers were becoming increasingly frustrated at open homes. “We’re seeing locals miss out over and over again”.

Peter Evans sold 514/108 Margaret Street, Brisbane City, for $244,000 on September 11, 2025.

She urged buyers to do their homework on the area, have their finances in order and be persistent in the current market.

“Townhouses and units in the $400k range have had the biggest growth. It’s a very strong, healthy market. We don’t expect to see that changing.”

Ms Mercorella said “over the past five years, Queensland’s property price growth has been unrelenting and while the pace has slowed, it has far from stopped”.

“When property prices rise faster than household income growth, the reality is that housing affordability deteriorates and the strain of entering the market intensifies.”

She said Greater Brisbane’s dwelling value to income ratio went from 8.2 in 2024 to 8.6 in 2025, while the rest of Queensland experienced an increase from 7.8 in 2024 to 8.2 in 2025.

“This means that the median dwelling value is more than 8 times higher than the typical annual household income.”

She warned that attributes that appeal to first home buyers also attract downsizers and investors. “Often the lower end of the market has the highest levels of competition.”

Qld’s 20 cheapest suburbs right now. Source: PropTrack Market Trends Sept 2025.

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