The Brisbane battlers ‘sitting on a goldmine’ as housing prices skyrocket

Homes in working class suburbs of Brisbane are now pushing the $1 million mark as peak demand sends prices skywards.

Peak demand for homes is at an all-time high for Brisbane's outer-ring suburbs of Nudgee, Clontarf, Moorooka, Springwood, Kingston and Booval, according to real estate agent Rob Honeycombe of Bees Nees City Realty.

“They're not places you'd expect to see a million-dollar home, but if you've got a large parcel of land of new home you might tip through that mark,” Mr Honeycombe said.

Also getting close to the million-dollar price tag are the suburbs of Capalaba, Cannon Hill and Coopers Plains.

Ross Heldom bought his Nudgee property two years ago for $550,000. After renovating the cottage and building a new home at the back, he believes it’s now worth significantly more.  

“If we can get $1.6 million we'll be very happy,” Mr Heldom told 9NEWS.

New infrastructure like rail lines, tunnels and arterials are making once-relegated areas more desirable, according to Mr Honeycombe.

Brisbane's construction boom has also provided an additional boost to prices of new and renovated home, with building and materials costs selling at a premium.

“Median sized home across Australia are now about 230 square metres, so that can cost you $400,000 to $500,000 dollars in construction costs,” Mr Honeycombe said.