The median land price in Brisbane cost $821 per square metre in the first quarter, down 25% year over year. However, the cost was the second highest among six councils in the South East Queensland (SEQ) region.
If you plan to relocate to Brisbane, conveyancing lawyers in Townsville may help you in determining how much you need to pay for transferring the title of your property. While land prices in the city are high, there are some nearby suburbs where unit prices are less than $500,000.
Finding an apartment worth less than half a million would only take you a kilometre away from Brisbane’s central business district. These suburbs offer a good alternative for homebuyers that want to be as close to the city centre as possible. Units in Spring Hill are the closest with a 0.6-kilometre distance from the CBD and a median price of around $405,000.
Those in South Brisbane are 0.7 kilometres away with a median price of more than $467,000. The median price of a unit in Brisbane’s CBD cost $473,100, so that’s still a good price. If you don’t mind going farther, look for apartments in Fortitude Valley where prices can go as low as $330,000.
If you would rather buy land in Brisbane and build a house from scratch, the median land price in the city rose 5% in the first quarter to $335,500. In the SEQ region, the median price for new land cost $242,000.
Part of the reason for the increase involves job growth and a growing population. New building approvals have then become steadier due to these factors, according to some experts.
Whether you plan to buy or sell property in Brisbane, be sure to know the ancillary costs of transferring or acquiring the title of a certain property.