Doolandella: Among the Most Affordable & Liveable Suburbs for Houses in Brisbane

Doolandella has made it to the list of Brisbane suburbs to look out for as far as being the most affordable and liveable suburbs, according to a recent property guide report. 

The PRD affordable and liveable property guide provides an analysis of Brisbane LGA  suburbs within 20km distance from the CBD using five criteria: property trends, investment, affordability, development, and liveability.

Video Credit: PRDnationwide Corporate / YouTube

Considering all the methodology criteria, Doolandella emerged as one of the affordable and liveable suburbs for houses, following Nudgee and Everton Park, with a median price of $490,000. Parkinson, Herston, and Wynnum West, on the other hand, are the most affordable and liveable suburbs for units.

Key findings in the 1st Half 2019 report indicated that the affordable and liveable suburbs are well distributed geographically, as opposed to the 2nd Half 2018 report where all the identified suburbs were from the northside.

Housing affordability in Queensland continued to decline, the report said, with the proportion of income needed to repay a home loan increasing by 28.1% over the past 12 months in Q4 2018. First home buyer loan activity decreased by 5.7% despite the number of first home buyers increasing by 13.4% over the same period.

Nevertheless, housing affordability in Brisbane property market seems to look brighter, as seen in the record jump in the percentage of available suburbs with a price range under $500,000, hitting a high of 42.4%.

Conversely, there have been sharp declines in the percentage of suburbs at $800,000 – $1 million (21.2% – 1st Half 2018) and $1 million – $2 million (11.1% – 1st Half 2018), dropping to 9.3% and 6.7% respectively in the 1st Half 2019 report.

Accessible suburbs by price range

Price RangeH1 2018 ReportH2 2018 ReportH1 2019 Report
$0 – $500,00010.6%12.4%42.4%
$500,000 – $800,000 52.9%51.4%37.7%
$800,000 – $1M21.2%20.5%9.3%
$1M – $2M11.1%12.4%6.7%
Source: PRDnationwide
Note: Suburbs with $0 or N/A median price have been excluded, which may result in percentage sum not being 100%

Affordable and liveable suburbs four houses in Brisbane

SuburbMedian Price*Price GrowthRental YieldProjects 2019**Radial Distance
Everton Park$602,000%4%$72.8M10.8km
Source: PRDnationwide
*Median Price – sales transactions from 1 January 2018 – 31 March 2019
**Projects 2019 – based on aggregate of estimated construction value  for residential, commercial, industrial, mixed-use, and infrastructure projects scheduled to commence 1st half of 2019.

Affordable suburbs are those with a median price falling below the threshold, which is set by adding a premium (81% for houses and 17% for units) to the Qld average loan of $346,383 as of Q4 2018. 

Liveable suburbs are low-crime-rate areas with available amenities such as schools, green space, public transport, shopping centres, and healthcare facilities within a 5km radius. Also, the unemployment rate in these locations should be on-par of below the state average.