![](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
It is still possible to buy a home on a beer budget in beautiful Palm Cove. Picture: Alinta Batten.
HOME prices might be rising again, but new analysis has found 19 champagne suburbs in Queensland where it is still possible to buy a property on a beer budget.
From Palm Beach to Palm Cove, independent valuer Herron Todd White (HTW) has revealed the locations with options below the median home price — and within a short commute to the heart of town.
MORE PROPERTY NEWS:
How you could save up to $68,000 on new home
‘Sleeper suburb’ one of Brisbane’s most affordable and liveable
But buyers will have to make some compromises, including being restricted to units, buying property in need of renovation, or sacrificing land size and views.
A two-bedroom unit in this complex at 12/769 Brunswick St, New Farm, recently sold for $700,000.
NEW FARM
Just 1.5km from Brisbane’s CBD and with the river on its doorstep, New Farm is one of the city’s most desirable addresses.
The median house price in New Farm is $2.71m, which leaves little room for beer budgets, but units are still within reach, according to HTW director David Notley.
“Someone looking to spend $700,000 on a home would find something like 12/769 Brunswick Street on their shortlist,” Mr Notley said. “A dated, but well-appointed two-bed, two-bath apartment with a large alfresco area, single garage and local outlook. You don’t get a yard, but you do get a pool in the complex.”
This one-bedroom unit at 12/56 Moreton St, New Farm, recently sold for $295,000.
Those with a true beer budget would have to seriously compromise on size, he said.
“12/56 Moreton Street, New Farm is a one-bed, one-bath, one-car unit in a converted cottage which sold for $295,000 in January this year.
“It’s tiny at 26 sqm internal space, but also has a good size courtyard and patio too. The unit is also generally well presented and appointed and you are still very accessible to all New Farm’s fabulous retail and lifestyle.”
TENERIFFE
This two-bedroom unit at 110/38 Helen St, Teneriffe, recently sold for $700,000.
Next to New Farm is Brisbane’s most expensive suburb, where demand is strong and supply is limited.
With a median house price of $3.05m, according to HTW, the area is usually well above most buyers’ budgets.
“That said, there was one at 65 Kingsholme Street, Teneriffe,” Mr Notley said. “It sold in
December 2022 for $1.888m. A lowset two-bed, one-bath brick home on 405 sqm of land. “This is fairly well located just off Macquarie Street, but is a tiny home of very modest finish.”
This two-bedroom house at 65 Kingsholme St, Teneriffe, recently sold for $1.888m.
Mr Notley said units were also pricey, although the median value was a reasonable $740,000.
“There is a wide range of unit prices from modest one-bedders through to ultra-luxe riverfront
apartments,” he said.
“An example of a typical unit here is 110/38 Helen Street, Teneriffe which sold for $700,000 in March.
“If your budget is tighter than that, perhaps a semi-modern, one-bedroom, one-bathroom unit under $300,000 is more your style.” He cited the sale of a unit at 304/38 Skyring Terrace for $290,000 as an example.
HAMILTON
This four-bedroom house at 76 Winchester St, Hamilton, recently sold for $1.24m.
Hamilton — and its renowned hill — is a go-to suburb for some of the deepest-pocketed buyers in Brisbane.
Mr Notley said a recent sale in the suburb representing a low buy-in price was 76 Winchester Street, which sold for $1.24m in February.
“This is an attractive, lowset colonial on 509 sqm of land,” he said. “While the house would benefit from some general attention, it appears entirely liveable.”
Units around the Portside Wharf precinct are still very affordable, according to Mr Notley.
This two-bedroom unit at 4506/18 Parkside Circuit, Hamilton, recently sold for $520,000.
“A good example of what’s on offer around the median unit price of $505,000 is 4506/18
Parkside Circuit, which sold in January this year for $520,000,” he said. “The unit provides two-bedroom, one-bathroom accommodation and is in a modern building with plenty of guest facilities.”
Even cheaper was the one-bed, one-bath unit at 10505/8 Harbour Road, which sold in March for only $282,500.
ASCOT
Next door to Hamilton is the old-money suburb of Ascot, where homes are a mix of contemporary architecture, colonials, and Queenslanders.
This two-bedroom unit at 6/37 Stevenson St, Ascot, recently sold for $557,000.
There are plenty of units on offer as well, with one at 6/37 Stevenson Street recently fetching $557,000.
The two-bedroom, two-bathroom, single-garage unit comes with a good size balcony and 117 sqm of floorspace.
“This type of property will not only be a great kickstarter unit for a first-time homebuyer, but could also be retained as an investment and would see good demand from potential tenants,” Mr Notley said. “There are options for anyone looking to buy affordably in desirable Brisbane suburbs. The key is to seek great fundamentals. Try to find good sized houses in need of some minor renovation or on decent sized allotments.
“If an apartment is more indicative of your budget, look for something with good sized
rooms and decent floor area.”
KINGSCLIFF
This two-bedroom house at 67 Pearl St, Kingscliff, recently sold for $1.33m.
This beachside town tucked away just south of the Queensland border is known
for being a popular holiday destination and for offering a relaxed, coastal lifestyle.
While prices in the suburb have exploded in the past few years, the typical entry level price point for detached housing starts around $1.2m, while prices for strata units generally start at $550,000, according to HTW.
“Recently, we noticed a one-bedroom, one-bathroom, 70 sqm apartment get snapped up in Pearl Street for $560,000 and this transaction is a great example of buying at the
most affordable end of the market,” HTW associate director Sam Gray said.
A 1950s house on 575 sqm in the same street also recently sold for a relatively affordable $1.33m at 67 Pearl Street.
PALM BEACH
A one-bedroom unit in this complex at 18/1444 Gold Coast Highway, Palm Beach, is on the market for offers over $365,000.
About 20km north of Kingscliff is Palm Beach, which has become one of the Gold Coast’s trendiest suburbs.
Mr Gray said a budget of $450,000 to $500,000 would typically buy an older style, one-bedroom, one-bathroom strata in a small complex with basic interior and basic common area improvements.
There is currently a studio apartment at 18/1444 Gold Coast Hightway available for offers over $365,000.
BURLEIGH HEADS
Mr Gray said this suburb had been one of the most consistently sought-after locations
for property buyers over the past decade.
“The attraction to the kind of lifestyle that Burleigh offers is very alluring, which can be attributed to its world-renowned surfing beaches and popular James Street retail strip,” he said.
“Buying opportunities at the affordable end are often difficult to attain and a certain level of
persistence is required, particularly when hunting for a freestanding house.
This two-bedroom unit at 6/10 Beelyu St, Burleigh Heads, recently sold for $522,500.
“Our recent online searches suggest that at the very bottom end, property listings under $650,000 are fairly scarce.”
One of the cheaper sales he has seen recently is that of an older style, two-bedroom,
one-bathroom strata unit, which fetched $522,500 in the Koala Park area at 6/10 Beelyu St, Burleigh Heads.
When it comes to houses, a budget of $1.5m to $1.75m might get you a modest, but liveable, house within a five minute walk of the beach.
MERMAID BEACH
The home of ‘millionaire’s row’ — Hedges Ave — Mermaid Beach needs no introduction.
Entry-level, one-bedroom apartments have lately been selling in the low $400,000s, Mr Gray said.
A one-bedroom unit in this complex at 19/40-44 Ventura Rd, Mermaid Beach, recently sold for $425,000.
“19/40-44 Ventura Road, Mermaid Beach, a one bedroom, one-bathroom, walk-up strata unit, is a good representation of absolute entry level into the Mermaid Beach market,” he said.
“The unit is situated in a circa late 1990s-built complex and sold in March this year for $425,000 in original condition. An investor reportedly purchased the property, and the unit has been recently advertised for rent with an asking price of $500 per week.
BROADBEACH
The bustling suburb of Broadbeach is also popular for its shopping, dining, and beachside location.
For owner-occupiers and investors on a beer budget, Mr Gray suggests looking at one-bedroom apartments under $500,000 and two-bedroom apartments under $700,000 with low body corporate costs and within walking distance of the central business area.
“5/33 Chelsea Avenue, Broadbeach is a recently sold property which demonstrates buying on a budget,” he said.
“The two-bedroom, two-bathroom walk-up strata unit sold in March for $670,000. The property is neat and tidy but in original condition and has one basement car space.
“There is a total of only six units within the complex and body corporate costs are very reasonable. The beach is only 200m down the street!”
MAIN BEACH
Another blue-chip Gold Coast suburb is the affluent Main Beach area, which is only a few minutes’ drive north of Surfers Paradise.
Mr Gray said there was very limited stock in the area, with units being snapped up quickly.
“Going back a few months, a strata unit at 11 Breaker Street changed hands for $625,000,” he said.
A two-bedroom unit in this complex at 5/33 Chelsea Ave, Broadbeach, recently sold for $670,000.
“The property comprised a single level, two-bedroom, two-bathroom walk-up strata unit in
a circa 1980s built complex approximately 200m from the beach.
“Similar style units within the development are reportedly achieving a weekly rent of $600 to $650 per week.”
PARADISE POINT
At the northern end of the Gold Coast is Paradise Point, with its canal-fronting mansions and fantastic boating access.
Mr Gray said there were a few two-bedroom, one-bathroom strata units in small, older style complexes which presented as good entry level prospects.
This two-bedroom unit at 2/59 Milton Ave, Paradise Point, recently sold for $475,000.
“These types of units have been selling between say $450,000 and $500,000 of late (when stock is available),” he said.
“One similar style property which has just recently gone under contract is 2/59 Milton Avenue, Paradise Point. The circa 1979 built strata unit is reportedly being purchased for $475,000.” It was on the market with an asking price of $519,000.
PALM COVE
Palm Cove is a premier beachside locality and renowned tourist destination, about 3km north of Cairns.
HTW director Danny Glasson said Palm Cove was intersected by the Captain Cook Highway and areas on the western side of the highway achieved significantly lower values than the eastern side due to its proximity to the beach and facilities.
This four-bedroom house at 37 Terebra St, Palm Cove, recently sold for $755,000.
“Entry level buy-in into eastern Palm Cove is around $750,000,” he said. “A sale late last year at Terebra Street for $755,000 comprises the bottom of the market in this older beachside area known locally as The Golden Triangle.”
TANNUM SANDS
Entry level prices in this stunning town on the coast of Gladstone for those on a beer budget sit around $400,000.
“For this price you would expect an aged and basic timber cottage, close to the beach and potentially with a distant or restricted ocean view,” HTW director Regan Aprile said.
“A recent example is 5 Zephyr Street, Tannum Sands, which sold for $420,000.”
This two-bedroom house at 5 Zephyr St, Tannum Sands, recently sold for $420,000.
The circa 1920, two-bedroom, one-bathroom timber dwelling is in fair to poor condition, with a restricted ocean view from the 703 sqm block.
“Over the past few years, a number of these beer budget properties have been purchased as redevelopment sites with gentrification occurring in the area.”
BURNETT HEADS
If a coastal lifestyle is your preference then Burnett Heads, in the Bundaberg region, is the second cousin of Bargara, which is an ideal champagne location.
According to realestate.com.au, Bargara has a current median house price of $621,000 based on 177 sales over the past 12 months, but there’s little to buy there on a beer budget.
The median house price for Burnett Heads is a more affordable $500,000, according to HTW, with nine properties currently listed for sale under that price point.
This four-bedroom house at 40 Moffatt St, Burnett Heads, was on the market for offers above $370,000.
“An entry level house in Burnett Heads with a current asking price of $370,000 is 40 Moffatt
Street, Burnett Heads,” HTW property valuer Megan Matteschek said.
“This property is a circa 1950, high-set house that has been built-in underneath, offering three bedrooms, three bathrooms and double car garage.”
RICHMOND HILLS
Some of the more sought-after areas in Mackay are located in the modern residential estates,
such as Richmond Hills, according to HTW valuer Kym Cook.
“Richmond Hills estate comprises large executive style dwellings selling from $700,000 and above, there are scattered smaller dwellings that can be picked up for sub $600,000,” Ms Cook said.
“This will generally get you a smaller four-bedroom, two-bathroom dwelling with limited ancillary improvements.”
A house being constructed at Richmond Hills estate in the Mackay region.
Ms Cook said rural residential properties close to Mackay’s CBD were currently in high demand.
“In the champagne localities of Erakala and Habana, there have been sales over $1m.”
THE VINES
When it comes to residential property in Emerald, The Vines is arguably the most sought-after estate in town, according to HTW valuer Kellie Blomfield.
“The Vines is approximately 3.5km south of the Emerald CBD, a floodfree, predominately owner-occupied area with high-quality, well-presented residences, in close proximity to schools and town,” Ms Blomfield said.
This four-bedroom house at 17 Brokenwood St, The Vines, Emerald, recently sold for $540,000.
“A four-bed, two-bathroom, two-car house in this area will generally have a shed, pool or both and the median house price for properties in this area is $465,000.”
A recent sale in the estate was at 17 Brokenwood Street, where a four-bed, two-bath, two-car house on 868 sqm, with a pool and shed, sold for $540,000.
NORTH WARD
The top locations in Townsville are suburbs within the 4810 postcode, including North Ward, Belgian Gardens, Castle Hill and Pallarenda.
HTW valuer Adrian Bagent said the entry level value for North Ward was around $650,000, which would get a buyer an older style home in mostly original or poor condition.
This three-bedroom house at 65 Rose St, North Ward, recently sold for $540,000.
A house listed for $549,000 at 65 Rose Street, North Ward, recently sold for $540,000.
But Mr Bagent said the property was an older-style home in poor condition on a smaller 495sqm block.
“This would allow a buyer to purchase a home on a beer budget and be situated within
the most popular suburb of Townsville, however it would be on a smaller allotment and need plenty of renovation works to be completed to bring the home up to a good liveable standard.”
This three-bedroom house at 65 Rose St, North Ward, recently sold for $540,000.
ROCKYVIEW
The Rockhampton suburb of Rockyview is considered a champagne location in the area, but buyers could compromise on extras to afford something on a beer budget there.
On the northern outskirts of town, the suburb offers rural residential living, with an acre or so of land and a pool and shed, the norm.
“If you can find a three-bedroom home without the pool or shed, the entry-level price point would reduce to around $550,000 with the scope to add the pool and shed later as your budget allows with a low risk of overcapitalisation,” HTW associate director Cara Pincombe said.
A four-bedroom house on acreage at 11 Bunya Road, Rockyview, is currently advertised for offers over $630,000.
This four-bedroom house at 11 Bunya Rd, Rockyview, is for sale for offers over $630,000.
THE RANGE
The Range, on the southern side of the Fitzroy River in Rockhampton, is full of grand Queenslanders in elevated locations.
But buyers would need to sacrifice views and size to afford an entry-level property in the suburb.
Ms Pincombe said purchasing vacant land was not an option for entry-level into the area, so a dated two-bedroom unit for around $200,000 would represent the absolute entry level to The Range, with limited detached housing available under $280,000.
“Investors will likely find buying into these premium localities easier than owner-occupiers as
rental returns are normally higher,” she said.
“With the lower purchase price however, maintenance costs and depreciation benefits should also be considered.”