Brisbane's fastest selling suburbs: Where buyers face hot competition

As first and second home buyers get priced out of Brisbane’s inner ring, they’re seeking houses further into the city’s middle ring, up to 20 kilometres out from the CBD.  

“It follows a pattern of demand we’ve seen through Brisbane in the past few years,” said Dr Wilson. “We see a lot of buyers trading up into these areas.”

“They’re low-rise typically, with high value infrastructure.”

Ray White Mount Gravatt principal Grant Boman said Mount Gravatt had entered a period of high demand in recent months. “It seems to be that people are waking up to the fact that it is a really convenient area and the prices are still within reach and reason,” he said.

Mr Boman said a tightening hold on land in inner city Brisbane meant even developers were turning their sights to the fringes. “Clearly the next step out is Mount Gravatt, we’re seeing a rise in land values thanks to what developers are willing to pay for the land.”

“There’s enough buyer traffic and buyer interest there, we could realistically [sell a house] in one phone call.”

Place Advisory director Lachlan Walker used a 12-month average, which placed Chermside West at number one with an average of 34 days on the market.

Mr Walker said similar factors pushed Chermside West to the top of his list. “It’s an affordability and availability thing,” he said. “Some people are willing to make some sacrifices to get into the market, like moving further out.”

The biggest surprise was that Brisbane’s blue-chip suburbs didn’t make the list, Mr Walker said. “Your Ascots, your Bulimbas, your Hamilton’s, New Farms, our premium suburbs.”

“There’s definitely demand there, it’s just some of the other suburbs are turning over quicker.”

In Dr Wilson’s results, he said beachside Sandgate was the most surprising. With an average of 29 days on the market last month, Sandgate was the seventh fastest suburb in Brisbane.

“It’s a part of that surrounding energy from that area,” Dr Wilson said. “It’s movement in the northern fringes from places such as Aspley and Albany Creek.”

Jim McKeering Real Estate agent Jacqui McKeering said Sandgate was another tightly held, yet affordable area. “There’s never much stock on the market,” she said. “The saying in Sandgate goes you move here, you’ll stay for 50 years.”

“Any good stock that comes on the market does tend to go very quickly.”

Ms McKeering said a lack of residential land in Sandgate was the cause for high demand. “It’s the CBD of the surrounding area so it’s taken up by a lot of shops and parklands.”

“So when buyers see something with a Sandgate postcode, they’ll jump on it.”