Beaches, reef, and resorts: what makes these Brisbane suburbs the costliest

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Brisbane, the capital of Queensland, is also the surfing capital of the country, and a mecca of beaches for many enthusiasts. Beautiful coasts, Great Barrier Reef, powerful waves, and resort islands are some of the natural gems the state offers.

Most importantly, Brisbane is lucky to have a subtropical climate that works as a significant factor for Brisbane residents, who enjoy warm weather all year around.

Apart from the ocean environment, Brisbane has many vineyards and green surfaces, which are available to those who appreciate the land.

Brisbane wonders catch one's eye and leave an everlasting impression. One should check out top five most prestigious suburbs in the area, according to data that CoreLogic collected in November 2020.

ALSO READ: Revealed: 10 most expensive suburbs in Sydney

#1 – Teneriffe

Named after a famous Spanish island, Teneriffe is an inner-city suburb of Brisbane, located next to the Brisbane River. For that reason, Teneriffe is suitable for everyone who wants to be away from the beach rush but loves swimming in the city's urban area.

Today, Teneriffe heritage-listing buildings are being transformed into modern apartments, trendy bars and cafes, five-star restaurants, and boutique shops.

During WWII, Teneriffe hosted a submarine bay, a place where military sea weapons were stationed. The same location has been turned into a famous walk, which offers a breathtaking view of the marina.

Teneriffe residents are also fond of sipping a variety of coffee and eating brunch in the area. For that reason, the suburb has many exciting places that fulfil all dining wishes.

For a house in Teneriffe, one would need to spend A$1.9 million on average. Last year, not many people joined the Teneriffe community, as only 18 homes were sold in the luxurious area.

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#2 – Chandler

The only suburb outside the inner city is Chandler, which has the second place on the list of the wealthiest Brisbane suburbs.

The area is located 14 kilometres away from the city centre. However, Chandler is close to the beach and owns part of the Tingalpa Reservoir.

Chandler was named after Sir John Chandler, who held numerous positions such as Lord Mayor in the mid-20^th century.

In a suburb where residents have close access to shopping centres, schools, and quiet family life, they can easily afford the freewheeling lifestyle.

For a private and secure life in Chandler, one would need to cash out A$1.6 million on average. CoreLogic reported 16 homes were sold in 2020.

GOOD READ: A look at Melbourne’s top 5 priciest suburbs

#3 – Ascot

Ascot is one of Brisbane's retro parts, as it is full of old mansions, vast chunks of land, and an all-time-famous racing club. For those who are not familiar with horse races – Australians love them!

The very first race at the club dates back to 1865. The venue still has a vintage vibe with a beautiful interior, which provides a perfect setting for old racing experience.

Ascot is also home to many delicious cuisines, from an authentic Italian gelato to modern Australian specialties. 

A median house price in Ascot is A$1.56 million. Seventy-seven houses in the area were sold last year to the elite. With such a high sell figure for a premium chunk of land, Ascot became the suburb with the highest housing sales in 2020.

#4 – Hamilton

Residential Hamilton in Brisbane could be the ideal residency for those who enjoy the water, and the views of blue sky .

Hamilton is located on the north side of the Brisbane river, which is very close to ocean beaches.

However, Hamilton is well known for Portside Wharf, a complex of high-end restaurants with several cuisines, including Japanese and Mediterranean food, as well as refreshing cocktails.

In contrast to Ascot, Hamilton is the city's urban area with modern buildings facing the Brisbane River. The site is also vibrant, so the young generation may find it convenient to live in Hamilton.

Anyone who wishes to move to Hamilton would need to spend A$1.5 million on average for a house. Compared to other prestigious areas, Hamilton has sold many homes, 55 to be precise.

#5 – New Farm

Last but not least, New Farm is the fifth Brisbane suburb for the highest median house price.

New Farm is the closest suburb to Brisbane's centre, which has many green zones and overlooks the Brisbane River.

The suburb residents are heavily involved in outdoor activities. New Farm Park is one of the most famous meeting areas, where residents go for picnics or spend some time in nature.

For the house surrounded by leaves and the river, one needs to set aside A$1.4 million on average. Sixty-two house were sold in New Farm in 2020, making it the second most popular suburb in the top five richest areas.