Aspley: One of the Most Affordable and Liveable Suburbs in Brisbane

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Aspley ranks among the most liveable and most affordable suburbs in Brisbane, the latest property report revealed. The report released for Sydney, Melbourne, Brisbane, and Hobart uncovered a few other surprises as well.

The PRDnationwide Affordable and Liveable Property Guides 2nd Half 2018 report took a holistic approach in determining the final list using five factors: property trends, investment, affordability, project development, and liveability.

For liveability, the several aspects were considered such as low crime rate; proximity (within a 5-km radius) to amenities such as schools, green space, public transport, shopping centres, and health care facilities; and an unemployment rate on par or lower in comparison to the State’s average.

Three suburbs, within a 20-km radius of the CBD, stood out as the most liveable and affordable hotspots in Brisbane for homes: Aspley, Everton Park, and Geebung — all north of Brisbane; a stark contrast to previous reports, where hotspots were distributed in all regions of Brisbane.

Affordable and Liveable Hotspots Suburbs in Brisbane for Houses
Suburb Median Price* Rental Yield Future Projects**
Aspley $600,000 3.9 % 2.0 million
Everton Park $605,000 3.8 % 6.9 million
Geebung $545,000 3.9 % 7.6 million
Source: PRDNationwide / prd.com.au
*Median price captures sales transactions from 1 January 2018 to 30 September 2018
**Project Development (Future Projects) is based on an aggregate of estimated construction value for residential, commercial, industrial, mixed-use, and infrastructure projects scheduled to commence in the 2nd half of 2018.
National Overview – Affordable and Liveable Guides – Second Half 2018

Considering the facts: median price growth of 1.3% since 2017, rental yield of 3.9% ( above Brisbane average of 3.8%), low vacancy rate of 1.9%, and project developments worth $2.0 million, Aspley is a highly-desirable suburb to invest in now.

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Among the most liveable cities, Brisbane and Sydney are tied at the top spot with an average liveability cost of 3 percent. Melbourne and Hobart follow with 10 percent and 12 percent respectively.

Affordability wise, Brisbane houses, with a price tag of $500,000 or less, have become more accessible, increasing from 10.6 percent in the 2nd half 2017 to 12.4 percent in the 2nd half of 2018. For the same period, premium houses ($2 million and above) have dropped from 1.1 percent to 0.0 percent.

Affordability vs. Liveability

Capital City 1st Half of 2018

Premium

2nd Half of 2018

Premium

Liveability Cost
House Units House Units House Units Average
Brisbane 60 % 30% 75% 20% 15% -10% 3%
Melbourne 60 % 40% 95% 25% 35% -15% 10%
Hobart 72% 40% 100% 35% 28% -5% 12%
Sydney 135% 80% 160% 60% 25% -20% 3%
Source: PRDNationwide / prd.com.au

Accessible Suburbs by Price Range

Price Range 2nd Half 2017 report 1st Half 2018 report 2nd Half 2018 report
BNE SYD MELB BNE SYD MELB BNE SYD MELB
$0 – $500K 10.6% 0.0% 11.2% 10.6% 0.0% 1.9% 12.4% 1.4% 1.4%
$500K-$800K 52.9% 1.4% 37.5% 52.9% 0.9% 21.4% 51.4% 3.7% 21.7%
$800K-1M 18.0% 7.4% 16.2% 21.2% 6.9% 14.6% 20.5% 9.3% 18.9%
$1M – $2M 13.8% 51.6% 27.2% 11.1% 52.6% 52.4% 12.4% 56.3% 50.5%
$2M+ 1.1% 33.6% 4.2% 1.1% 35.8% 9.7% 0.0% 25.6% 5.2%

 

Price Range – Hobart 2nd Half 2017 report 1st Half 2018 report 2nd Half 2018 report
$0 – $350K 28.6% 26.1% 8.2%
$350K- $500K 28.6% 26.1% 24.5%
$500K – $650K 28.6% 21.7% 32.7%
$650K – $800K 10.7% 19.6% 24.5%
$800K+ 3.6% 6.5% 10.2%
Source: PRDNationwide / prd.com.au

Other surprises in the Affordable & Liveable Property Guide 2nd Half 2018 report include:

  • All the affordable and liveable suburbs in Sydney had negative annual median price growth, a first since 2015; a sign that the Sydney property market is already cooling down.
  • All affordable suburbs in Hobart failed to meet the liveability criteria; an indicator that there is already a strong need to address the liveability aspects in these affordable spots.
  • Melbourne, among all capital cities, has turned out to be the most resilient in terms of price growth and ease of satisfying the affordable areas’ liveability aspects.