Brisbane’s Top Growth Suburbs of 2024–25

Brisbane’s Top Growth Suburbs of 2024–25

Introduction: Brisbane’s property market has been on a tear, chalking up some of the nation’s fastest price rises leading into 2024–25. The Queensland capital’s median home values have surged over 60% since 2020, including around 13% growth in the last 12 months alone (through late 2024). This broad boom has lifted the entire market, but certain suburbs have far outpaced the average – with annual price jumps that are turning heads. In this roundup, we highlight Brisbane’s top growth suburbs in the recent period, including examples like Taringa, Geebung, and the prestigious Teneriffe, where property values have soared by 40% or more in a year. We’ll also explore what’s driving these price surges (from chronic supply shortages to lifestyle appeal and new infrastructure) and discuss what it all means for buyers and sellers as we move through 2025.

Record-Breaking Suburb Price Surges

Brisbane’s boom has produced some astonishing suburb-level gains. Even against a backdrop of double-digit citywide growth, these locales managed to stand out:

Taringa (Inner West Brisbane): This leafy suburb saw its median house price spike by around 45% in just one year, reaching roughly $1.46 million. Taringa’s surge can be attributed to its attractive location – only ~5 km from the CBD, with good transport links (train and bus), popular schools, and proximity to the University of Queensland. As buyers flocked to secure a slice of this convenient lifestyle, limited listings created bidding frenzies. The result was an explosive price jump that put Taringa firmly on the map as one of Brisbane’s fastest-growing markets.

Geebung (Northside): An otherwise quiet, affordable suburb about 10 km north of the CBD, Geebung made headlines when its unit prices jumped nearly 44% in one year. Median unit values leapt from around $365k to $525k, reflecting renewed buyer interest in Brisbane’s more affordable options. First-home buyers and investors, priced out of trendier inner areas, turned to Geebung for its value and amenities (train line access, nearby employment hubs in Chermside and industrial precincts). With very few units available in Geebung, even a slight uptick in demand sent unit prices skyrocketing. (Notably, Geebung’s house market also grew strongly – over 30% annually in that period – as families discovered this suburb’s charms and relative value compared to neighboring Wavell Heights or Chermside.)

Teneriffe (Inner City): Already Brisbane’s most expensive suburb, Teneriffe’s prestige house market still managed to soar ~37% in one year, with medians climbing from ~$1.93M to ~$2.65M. This former woolstore district turned luxury enclave (famous for its riverside apartments and heritage charm) exemplifies how top-end buyers have driven up prices. Wealthy downsizers and professionals competed for scarce character homes and upscale units along the Brisbane River. The combination of Teneriffe’s boutique cafes, riverwalk lifestyle, and proximity to the CBD proved irresistible – pushing prices to new heights despite already lofty bases. It’s a reminder that lifestyle suburbs with prestige cachet can experience big gains in a boom, as moneyed buyers chase quality and are willing to pay a premium.

Other Notable Performers: Brisbane’s growth story is broad, and several other suburbs deserve mention. In the bayside east, Manly saw houses jump around 38% annually (median now ~$1.59M) on the back of coastal lifestyle demand. Nearby Wynnum wasn’t far behind, with ~25% growth as buyers priced out of inner suburbs looked to the bay for more space and scenery. On the northside, Virginia (next to Geebung) saw house values climb ~37% in a year, benefitting from the same affordability-plus-location sweet spot. These examples underscore that the boom lifted a diverse mix of suburbs – from blue-chip inner enclaves to family suburbs in the middle ring – especially where supply was tight and lifestyle factors were attractive.Insight: Many of the top growth suburbs had one thing in common – scarcity. Whether it was a limited number of character homes in an inner locale, or a shortage of any homes for sale in an affordable suburb, low supply amplified price rises. When even a modest surge of buyers descended on a suburb like Taringa or Geebung, the lack of available properties created competition frenzy, causing prices to leap dramatically in a short time.

What’s Driving the Price Growth?

Several key factors have been propelling Brisbane’s property values upward and fueling these suburb-level booms:

Persistent Undersupply of Listings: Brisbane entered 2024 with record low housing stock on the market. Over the year to late 2023, the number of properties listed for sale in Brisbane had fallen by ~12.6%, even as other cities saw listing volumes rise. This chronic undersupply has meant more buyers chasing fewer homes, inevitably driving prices higher. In suburbs with especially tight stock (e.g. only a handful of listings at any given time), price growth has been amplified. Owners have been reluctant to sell (partly due to low interest rates earlier and then wanting to hold for more gains), creating a vicious cycle of low supply. Scarcity = competition, and competition pushes up prices – a fundamental rule playing out across Brisbane’s market.

Lifestyle Appeal and Migration: Brisbane’s lifestyle advantages – warmer climate, spacious living, and relative affordability compared to Sydney/Melbourne – have attracted waves of new residents. The city has been Australia’s leader in net interstate migration, with thousands moving from southern states in search of a better lifestyle and housing value. This influx has particularly benefited suburbs offering a mix of lifestyle and value: for example, coastal suburbs (like Manly/Wynnum) lured those seeking a seaside lifestyle, while well-connected middle-ring suburbs (like Taringa or Holland Park) appealed to families for their greenery and schools. Population growth of around 2.5% in 2024 alone added immense pressure to the housing market. People want to live where there are cafes, parks, good schools, and transport – and many of Brisbane’s top growth suburbs tick these boxes, hence commanding booming demand.

Infrastructure and Economic Growth: Major projects and the upcoming 2032 Brisbane Olympics are boosting confidence in Brisbane’s future. Billions are being invested in infrastructure – from the Cross River Rail and Brisbane Metro (transport projects) to new highways and the Queens Wharf development. Areas positioned near new or upgraded infrastructure often see heightened buyer interest, anticipating future convenience and desirability. (For instance, suburbs along new transport routes or near Olympic venues are already expected to surge in value.) This infrastructure narrative has given both homebuyers and investors a “fear of missing out,” encouraging them to buy now and ride the growth. Additionally, Brisbane’s economy has been strong, with rising employment opportunities, which always underpins housing demand.

Affordability (Relative) and Low Interest Rates (Earlier): Through 2020–2022, record low interest rates enabled buyers to borrow more, and Brisbane – starting from a lower price base – looked extremely affordable compared to Sydney. Investors and first-home buyers turned their attention to Brisbane, seeing better value for money. Even after interest rates rose in 2023, Brisbane’s momentum continued due to the other factors above. The city’s median house price hit the ~$950k range, surpassing Melbourne and Canberra, yet many suburbs (especially outer and some middle-ring) still looked like “bargains” to interstate buyers. This relative affordability meant upward price pressure, as buyers from more expensive markets felt comfortable paying top dollar in Brisbane, resetting price benchmarks in many suburbs.

Investor Activity and Rental Boom: Brisbane has also seen strong investor interest, fueled by a tight rental market. Vacancy rates in Brisbane lingered below 1% through 2023–24, and rents jumped at the fastest pace in decades. Investors chasing rental yield have targeted Brisbane suburbs where rents were climbing sharply and where entry prices were lower (for better yields). Geebung’s unit surge, for example, coincided with investors snapping up apartments in affordable areas to capitalize on rising rents. This investor demand added an extra layer of competition, on top of owner-occupiers, in many high-growth suburbs.

In summary, a perfect storm of low supply, high demand (from both migrants and locals), attractive lifestyle offerings, and economic optimism has driven Brisbane’s property boom. Suburbs that combined several of these elements – say, a limited supply of homes plus a desirable location near new infrastructure – inevitably became the ones with the biggest price hikes.

Outlook for 2025: What It Means for Buyers and Sellers

As we move deeper into 2025, the big question is whether these growth trends will continue and how participants in the market should react:

For Buyers: The rapid price gains in Brisbane mean that buyers need to adjust expectations and strategies. Suburbs like Taringa or Teneriffe that have already jumped significantly are now much more expensive – buyers may find themselves priced out or facing stiff competition at auctions. Thus, some buyers are looking at the “next wave” suburbs that might not have boomed yet but show similar appeal (e.g. neighboring suburbs or those with new transport projects). It’s a classic ripple effect: once one suburb surges, adjacent areas often follow as buyers seek relative value. Buyers should also be prepared for a strong seller’s market – well-presented properties in high-demand suburbs can still attract multiple offers in 2025, though the pace of growth might moderate. Diligent research is key: look at sales trends for the past 6–12 months, days on market, and inventory levels. If a suburb still has very low stock and high demand, prices are likely to remain on an upward trajectory (even if not as steep as 2021–24). On the flip side, buyers might get a slight breather in ultra-high-end segments that cooled off – for example, some inner-city prestige pockets saw a minor correction, which could present opportunities to buy into a blue-chip suburb during a plateau. Overall, buying in 2025 means balancing urgency (the market isn’t crashing by any means) with caution (don’t overextend budget in a FOMO frenzy). Keep an eye on interest rate changes too – projected rate cuts in 2025 could increase buyer competition if borrowing power rises, so acting before that could be advantageous.

For Sellers: Many Brisbane homeowners now find themselves sitting on substantial equity gains after the boom. For those in the top growth suburbs, 2025 could be an opportune time to consider selling if you’ve been waiting for peak prices. The market is still tipped to rise further in 2025, but at a more moderate pace. That means the feverish 20–40% annual jumps are likely behind us; however, values are at record highs. Sellers can benefit from the still-strong buyer demand – especially with Brisbane’s population and economy growing – while also taking advantage of the current scarcity of listings (less competition from other sellers). If your suburb has had an exceptional run-up (like those mentioned), there may be pent-up buyers who missed out and are eager to pay top dollar for any new listing. Presenting your property well and highlighting any unique features (e.g. large lot, renovated kitchen, views) can fetch premium offers when the buyer pool is deep. It’s also worth noting the profile of buyers has broadened – you might be marketing not just to local Brisbane families, but interstate migrants, expats returning, or investors, depending on your area. Engaging a knowledgeable local agent - such as Nortons Real Estate Agency, which closely tracks these suburb trends) can help in targeting the right audience and setting an optimal price strategy.

Market Trajectory: Experts anticipate Brisbane’s market will remain robust but normalize compared to the frenzied growth of the pandemic era. Price growth is expected to continue (forecasts of, say, 5–10% for 2025 are common), fueled by ongoing low supply and high demand, but we might also see some catch-up in supply as more homeowners decide to sell and builders ramp up projects. Already by late 2024, there were signs of more listings coming onto the market – if this trend continues, buyers will have a bit more choice, and price growth should ease into a sustainable level. For sellers, this means the sooner, the better to take advantage of the imbalance; for buyers, it means there’s hope on the horizon for slightly less competition (though significant relief likely awaits only once new housing construction catches up in a few years).

Segmentation of the Market: It’s important to recognize that not all Brisbane suburbs are behaving identically. The “two-speed market” phenomenon is emerging: some affluent inner suburbs have plateaued or even slipped slightly after huge gains (as seen with West End or Hamilton’s recent dip), whereas many affordable or middle-ring suburbs are still climbing rapidly. This is partly due to buyer affordability constraints – as prices push past certain thresholds, demand naturally cools at the top end, diverting more buyers to mid-tier suburbs. Additionally, units vs houses are a divergent story: house prices exploded first, and now units are catching up (since they’re the remaining affordable option for many buyers). Indeed, Brisbane’s unit prices have started rising faster as buyers seek entry points into desirable areas (we saw this with Geebung’s units, and similarly unit growth in inner Brisbane). Buyers and sellers should thus consider the specific dynamics of their property type and price point. In 2025, family houses in outer suburbs might continue to see solid competition (driven by first-home buyers and migrants), while $2M+ inner-city homes may face a smaller buyer pool. Conversely, quality units and townhouses could be in hot demand as an affordable alternative, giving those sellers a strong market.

Bottom line: Brisbane’s recent suburb price surges highlight the city’s rise as Australia’s new real estate powerhouse. For buyers, the challenge is to navigate a market that’s no longer “cheap” but still offers growth potential – often by identifying the next hotspots or being flexible on location. For sellers, these are rewarding times: many can sell at prices unimaginable a few years ago. As the market matures into 2025, staying informed on local trends (supply levels, buyer interest, infrastructure plans) will be crucial. Both buyers and sellers should plan for a scenario of continued (if calmer) growth, rather than any major downturn. With the Olympics on the horizon and Brisbane firmly on the radar of migrants and investors, the city’s property momentum looks set to carry on, albeit in a more sustainable fashion.

In conclusion, Brisbane’s top growth suburbs of 2024–25 demonstrate what a combination of low supply and high demand can achieve – from Taringa’s 45% leap to Geebung’s remarkable unit boom. These increases underscore the importance of suburb-specific research: by understanding why certain areas are booming (and others lagging), property participants can make savvy decisions. Whether you’re aiming to invest in the next growth suburb or capitalize on your home’s increased value, the Brisbane market offers plenty of opportunity – just tempered now with a dose of post-boom reality. Here at Nortons Real Estate Agency, we continue to monitor these trends closely, ready to assist buyers and sellers in making the most of Brisbane’s dynamic market in 2025 and beyond.

This blog is intended for general information only and should not be considered financial or professional advice. Please seek independent guidance before making any property-related decisions.