Geebung: One of the Most affordable and Liveable Suburbs in Brisbane

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Geebung is among the most liveable and most affordable suburbs in Brisbane; this, along with quite a few other surprises, are what has been revealed in the latest property report released for Sydney, Melbourne, Brisbane, and Hobart.

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 factors.

The liveability factors include 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. This was in contrast to previous reports, where hotspots were distributed in all regions of Brisbane.

Affordable and Liveable Hotspots Suburbs in Brisbane for Houses

Suburb Median Price1 Rental Yield Future Projects2
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
1Median price captures sales transactions from 1 January 2018 to 30 September 2018
2Project 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

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Geebung, approximately within the 15.1-km radius from the CBD, is where first-time buyers can take advantage of affordability and proximity to amenities such as schools, parklands, medical centres, and shops, as well as access to public transport.

A median price growth of 0.9 percent, rental yield of 3.9 percent (above the Brisbane Metro average of 3.8 percent), and $7.6 million worth of future developments make Geebung a desirable suburb for property investment.

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%
Hobart – Price Range 
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.