Gordon Park Among Brisbane’s Cheapest Suburbs To Rent

Gordon Park has been listed as the fifth cheapest suburb to rent a unit in Brisbane, based on Domain Group’s median weekly rent data over the past 12 months.

According to Domain Group’s latest property reports, Brisbane is one of the capital cities where you can rent the most affordable house or unit in Australia. Current median rent price for units in Brisbane is at  $370 per week while units in Sydney and Melbourne are priced at $550 and $410 per week respectively.

Making it to the top of the list of Brisbane’s cheapest suburbs to rent is Grange with a median weekly rent of $295 a week. Others suburbs that followed are Bardon at $305 a week, Gordon Park at $325 a week and Newmarket at $328 a week.

Photo credit: CC-BY/Brisbane City Council/Flickr

When it comes to the choices of rental properties, Brisbane has lots to offer with the number of new residential developments in and around the CBD. According to experts, one of the factors that affected the prices of units in the said suburbs is the number of older apartment buildings in those areas. While the prices of units in suburbs close to the city centre remain competitive, units in other suburbs have reportedly suffered.

In order to compete with newer developments, older buildings with no facilities needed to bring down their prices to increase their demand.

According to Domain Group, rents in Gordon Park fell by three percent over the past year, as did rents in Grange which went down down by 1.7 percent, Newmarket down by 0.8 percent, and Bardon down by 4.7 percent.

When it comes to the current demand for properties in Gordon Park, figures from realestate.com.au show that the suburb currently has a high demand market with 953 visits per property over the last 12 months.

If you want to know other suburbs in Brisbane with the lowest prices for units for rent, here are the 10 cheapest suburbs to rent a unit in Brisbane.

  1. Grange: $295
  2. Strathpine: $300
  3. Bardon: $305
  4. Red Hill: $320
  5. Gordon Park: $325
  6. Newmarket: $328
  7. Camp Hill: $330
  8. Herston: $330
  9. Clayfield: $335
  10. Wooloowin: $335

*Based on median weekly rent data over the past 12 months. Source: Domain Group