Forest Lake Housing Market Moving Closer to $500,000 Median Price

Did you know that Forest Lake is moving closer to the $500K mark after its latest median home prices came in at $455K?

Forest Lake’s housing market joins Durack, Ellen Grove and Fitzgibbon as the suburbs nearing the half a million club. Inala, Wacol and Richlands are still trailing behind with an average house price between $355,000 to $410,000. 

In Forest Lake, it’s also cheaper to buy a house than to rent because of low interest rates and a first-home buyer’s grant. Some buyers could end up luckier than most because there are houses less than $500,00 that will not need heavy refurbishments or renovations. 

However, some industry experts warn of the downsides amidst the property boom, record sales, and packed auctions and open houses as new investors, young and first-home buyers only have these suburbs as options based on the house price listing they could afford. 

Photo Credit: Google Maps

A robust Brisbane housing market, which has been projected to have a five to eight percent increase every quarter in 2021, could leave out just Inara and Wacol for new buyers considering to invest in Brisbane by the end of the year. 

But life in Forest Lake may still be a worthy investment for young families despite a looming median price increase as it’s a quiet, green and clean town with many public parks. There are also fewer broken down or dilapidated houses compared to other suburbs nearby. First-time buyers could acquire a house with a spacious backyard compared to living in a shoebox in suburbs closer to the CBD, according to a longtime resident.