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AU Beachmere, north of Brisbane, has Australia's cheapest units

Property Here - Wednesday, October 16, 2013

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UNITS in Beachmere, 38km north of Brisbane, are cheaper than anywhere else in Australia, according to a new report on Australia's most expensive and cheapest property markets.

The RP Data Spring Buyers' Guide analysed median unit values in 8700 suburbs across Australia.

Beachmere came in the cheapest with a median unit value of just $91,112.

But don't expect to be buying a luxury waterfront penthouse for that sort of money.

The majority of the unit market in the suburb is retirement-style living.

Online property listing site, realestate.com.au had only one property for sale around that price point, a one-bedroom, one-bathroom unit in for $85,000.

It is rented for $240 per week, has air-conditioning, internal laundry and a wheelchair friendly bathroom.

The unit is part of a seniors independent living complex and is one street back from the beach. It also has a dining area and meals for residents and their guests, plus a community lounge area with a big-screen television.

Clermont in Mackay was next on the list nationally with its median unit value, $99,104.

There are only three units listed for sale in the suburb on realestate.com.au and all are for more than $300,000.

Of the 407 suburbs analysed in the Brisbane's housing market, 61 had a median value lower than $300,000. None were within the Brisbane City Council area, all were within the Logan and Redland council areas.

In the unit market, 272 suburbs were analysed, with 74 of those suburbs having a median unit price below $300,000.

Once again none were within the Brisbane City Council area, they were within Logan, Ipswich and Moreton Bay regions.

According to Tim Lawless of RP Data the greater Brisbane area had a large number of suburbs where the median value was lower than $300,000 but he said generally they were not close to the CBD.

To download the full report; www.myrpdata.com.au/springbuyersguide

Greater Brisbane's cheapest house suburbs

Russell Island $209,504

Ebbw Vale $216,727

Leichhardt $217,920

Dinmore $223,056

Riverview $224,297

Greater Brisbane's cheapest unit suburbs

Beachmere $91,112

Logan Central $170,755

Bundamba $171,997

Woodridge $175,922

Beenleigh $188,547