It’s no secret that Brisbane’s apartment market has taken a beating over the past couple of years, and it’s been a painful experience for some owners.
The upside to that is if you’re looking at buying a unit, there has never been a better or cheaper time to get into the market. And not just any market but the inner-city market, with the latest data from the Domain June House Price Report revealing that of the 12 suburbs in Brisbane with median unit prices under $400,000, 10 were in the inner city.
Suburbs like Bowen Hills, Fortitude Valley, Albion and Spring Hill – all within three kilometres of the CBD – have seen prices fall over the past 12 months to medians in the $300,000s.
Other suburbs with some of Brisbane’s cheapest unit prices include East Brisbane, Coorparoo, Clayfield, Nundah, Taringa and Kedron.
Bowen Hills, in Brisbane’s inner northeast, is the cheapest suburb in Brisbane to buy a unit. Prices have fallen by 13.7 per cent over the past 12 months to a median price of $362,500. Over the past five years, prices are down by 18.8 per cent.