St Lucia is one of the most prestigious suburbs in Brisbane because of its close proximity to the Brisbane CBD, its peninsular-like ‘no-through traffic’ position, and vast expanse of prime riverfront land.
In this St Lucia market update, we investigate the change in property prices for the area, review St Lucia’s suburb profile and give you an idea of how much your home is worth in the St Lucia property market.
The median sale price for a house in St Lucia is currently $1,550,000 which represents an impressive 21.09% YoY growth for the suburb. Apartments in St Lucia are also performing exceptionally well, achieving a median sale price of $516,000 with 14.16% YoY growth. In the rental market, houses in St Lucia are achieving an average rent of $588pw while apartments for rent in St Lucia are averaging $400pw.
Ideal for families with long-term education goals, St Lucia is a world class university precinct surrounded by a wide variety of quality homes. Many families choose to move to St Lucia so their children can attend the coveted Ironside State School, renowned high schools and then have the option to go on to study at the University of Queensland.
Enhancing St Lucia’s vibrant outdoor spaces
St Lucia has also undergone several improvement projects recently, including the St Lucia Community Garden at Lex Ord Park, Guyatt Park Ninja Warrior Course and upgrades to the Junior Playground.
Demand for properties in St Lucia remains high
According to realestate.com.au, 197,000+ buyers are searching for properties to buy in St Lucia, every single month. Buyer activity has been exceptionally high in 2021, particularly throughout February and March.
Property values soar by 22% in St Lucia
Property prices for houses in St Lucia have increased by 22.81% in just 12 short months. In May 2021, the median sale price for St Lucia reached $1,507,500 which is now the highest within Brisbane’s inner-western suburbs, surpassing both Auchenflower and Paddington.
Apartments on the other hand, unfortunately have not performed as well. Units in St Lucia were the most heavily impacted by the pandemic because of their reliance on university students. As of May 2021, the median sale price for a unit in St Lucia is $450,500 which is -2.49% lower than 12 months ago.
Although the unit market is a little softer than the house market in the area, we are confident that St Lucia’s appealing lifestyle and increasing connections to West End, Southbank and the City, will reinvigorate demand for apartments.
Interested to know more?
Your free 2021 Local Market Report includes our St Lucia Property Market Update, St Lucia Suburb Profile and St Lucia Property Values.
How many people are looking for homes within the St Lucia property market?
Our complimentary Local Market Report provides residents with a detailed look at property values and the trends we are currently experiencing throughout Brisbane’s inner-western suburbs.
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Byrony O’Neill
It’s no secret that Byrony is firmly established as Brisbane’s inner west property expert. Her experience and knowledge of the St Lucia property market define Bryony’s reputation as a trusted sales professional.
Whether you would like to know how much your home is worth in St Lucia, or how to prepare your house for sale, Byrony can offer practical advice that will help you achieve a premium sale price in St Lucia.
M: 0412 132 480
E: byrony@byronyoneill.com
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St Lucia Property Prices: September update based on the most recent property data released from CoreLogic (May 2021). Demand for St Lucia: The number of monthly buy or rent searches on realestate.com.au in June 2021.