We crunch the numbers to reveal the smarter move for buyers in 2025
By Paul Palella – Director, Brisbane Buyers’ Agency
Enoggera, just 6km from Brisbane’s CBD, has emerged as a suburb where buyers often face a critical decision: do you purchase an older home to knock down and rebuild, or buy a newly completed property outright? With a mix of traditional Queenslanders on generous blocks and prestige new builds reshaping the suburb, the cost–benefit equation has never been more relevant.
Entry-Level vs New: The Numbers
Entry-level homes in Enoggera, typically three bedrooms, one bathroom, on 600m² blocks, have surged in value over the past five years. In 2020, these properties sold for a median of $715,000. By 2025, the same type of stock is trading around $1.375M—a staggering 92% increase in just five years.
Meanwhile, new homes in Enoggera are now commanding a median of $2.629M. These are architect-designed, large family residences with premium finishes, often sitting on similar block sizes but catering to the top end of the local market.
What It Costs to Build
David Farrer, Director of Sales and Business Development at McCarthy Homes, provides context on today’s build costs:
“Currently, construction costs on a (turnkey) build with a typical size of 380m² would be approximately $2,700 per m². Such a price would encompass premium finishes and is based on a relatively flat site.”
That equates to about $1.026M to build a new 380m² home. Adding the cost of acquiring an entry-level site in Enoggera (~$1.375M), plus ~$70,000 for landscaping and external works, takes the total project cost to $2.471M.
Knockdown & Build vs Buy New
|
Option |
Site / Land |
Build (380m² @ $2,700/m²) |
Landscaping & External |
Total Cost |
|
Knockdown & Build |
$1.375M |
$1.026M |
$70,000 |
$2.471M |
|
Buy New |
– |
$2.629M (median) |
– |
$2.629M |
On the numbers alone, building your own comes in about $160,000 cheaper than buying an equivalent completed new home. The gap isn’t vast, but for some buyers it represents both savings and the ability to design a home exactly to their specifications.
Positioning for Long-Term Success
Enoggera’s property market has demonstrated both strong growth and a clear appetite for prestige homes . For buyers, the decision often hinges on lifestyle priorities and tolerance for risk.
- Buy New: Immediate occupation, no build management, predictable outcomes. The premium is clear, but so is the convenience.
- Knockdown & Build: Potential cost savings, design control, and scope for creating instant equity if the build is tightly managed. However, risks include construction delays, price escalations, and holding costs.
At Brisbane Buyers’ Agency, we see Enoggera as a suburb where both options make sense depending on the strategy. Buyers who value certainty and convenience may lean towards buying new, while those prepared to manage a project can unlock value by building.
Data disclaimer: Sale prices, rental yields, and median values have been sourced and calculated using figures from CoreLogic RP Data (2020–2025). Always consult your financial advisor or property strategist for personalised investment advice.
📞 Call Paul Palella directly on 0409 499 034
📧 Email: paul@brisbanebuyersagency.com.au