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January 12, 2024 by ash

Here are some suburbs to watch out for in 2024 in Brisbane

Despite a strong year in 2023, Brisbane’s property market isn’t slowing down, and these suburbs could see major growth next year.

According to CoreLogic, Brisbane’s median dwelling price went up 11.9% from 1 December to 1 December. On average, houses were going for $870,000, now only about 7.5% below Melbourne.

Key points

  • Brisbane’s prestige suburbs are expected to keep growing, where the charm and lifestyle create a demand that never goes away.
  • The fast-growing Moreton Bay LGA might be a good place to look for a bargain.

Brisbane’s market hasn’t slowed down yet like Australia’s second largest city. Before too long, buying a house in Melbourne will be cheaper than in Brisbane if the current growth rate continues.

One analyst says prices in Brisbane will keep going up in 2024 is Louis Christopher of SQM Research

“Brisbane prices are expected to rise [in 2024]…driven by a recovering Chinese economy with strong demand for base commodities like iron ore,” he says.

Whether it’s mining jobs, the 2032 Olympics or our beaches, Brisbane’s population is set to grow for a long time.

Within a decade, 350,000 people will emigrate to Brisbane, both internally and from abroad, according to consulting firm RSM. Brisbane needs more housing than ever before, said former Deputy Premier Stephen Miles.

A plan is needed to make sure homes are delivered when and where they need to be.

In the 12 months to November, SQM reported the number of Brisbane property listings had fallen 12.6%.

Canberra listings were up 24.4%, Hobart listings were up 22.1%, Melbourne listings were up 4.2%, and Sydney listings were up 3.5%.

Several experts in the real estate industry have helped us pick spots in Brisbane that could be particularly lucrative.