Where to buy a home for under $500,000 just 1km from the CBD

first_imgCoreLogic data has found you can buy a unit for under $500,000 within 1km of Brisbane’s CBD. Image: AAP/Claudia Baxter.FORGET settling for a home miles away in suburbia.If the bright lights of inner-city living are more your style, you can still pick up a unit for under $500,000 in the heart of Brisbane.New data from CoreLogic has revealed five suburbs with median unit values of less than $500,000 within less than 1km of the Brisbane CBD — that’s right, just 1km. GET THE LATEST REAL ESTATE NEWS DIRECT TO YOUR INBOX HERE This one bedroom unit at 2707/79 Albert St, Brisbane City, is available for offers over $325,000.Compare that to Sydney where you have to travel more than 12km from the CBD to find something similar.More from newsParks and wildlife the new lust-haves post coronavirus18 hours agoNoosa’s best beachfront penthouse is about to hit the market18 hours agoCoreLogic analyst Cameron Kusher said housing options under $500,000 were available much closer to the CBD for units compared with houses in most capital cities. “This likely also goes some way to explaining why in Sydney and Melbourne, where house values are falling, the more affordable unit market is holding up better,” he said. FROM RECEPTIONIST TO $2M INCOME This one bedroom unit at 801/8 Church St, Fortitude Valley, is for sale for $330,000.CoreLogic figures reveal there were 185 unit sales in Spring Hill in the past year, with a median sale price of $405,351 — that means half of those properties sold for below the median and half for above that price.In South Brisbane, 290 units sold in the past 12 months at a median sale price of $467,662, while in neighbouring Kangaroo Point, 284 units were sold in the past year.center_img This apartment at 32/15 Goodwin St, Kangaroo Point, is on the market for offers over $419,000.Mr Kusher said most suburbs in Greater Brisbane had a median unit value below $500,000. “Even within the CBD and surrounds median unit values generally sit below $500,000 offering a much more affordable alternative, particularly in the inner city to houses,” he said.Brisbane CBD has a median unit value of $473,101.The other four cheap suburbs to buy units close to the city centre are Spring Hill, 0.6km, South Brisbane, 0.7km, Kangaroo Point, 0.8km and Fortitude Valley, 0.8km. HOW FAR FROM THE CBD CAN YOU BUY A HOUSE FOR UNDER $500,000? last_img

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