By Paul Palella – Director, Brisbane Buyers’ Agency
Tucked just 6km east of Brisbane’s CBD, Cannon Hill is a suburb that has captured the attention of both families and high-end purchasers. Its mix of traditional post-war homes on generous blocks and newly built prestige residences creates a unique choice for buyers: do you secure a ready-to-go modern home, or purchase an entry-level block and build from scratch?
A Suburb with Dual Appeal
Cannon Hill blends city access with a community lifestyle. Transport links include Cannon Hill train station, bus corridors, Wynnum Road, and the Gateway Motorway — making the CBD, airport, and bayside all within easy reach. Retail and dining options are plentiful, from Cannon Hill Plaza to nearby Westfield Carindale, while families are drawn to Cannon Hill State School, Balmoral State High, and private options like Cannon Hill Anglican College (CHAC). Green space is equally strong, with Murarrie Recreation Grounds and river parklands just minutes away.
New Homes: What Are They Selling For?
Prestige homes in Cannon Hill now regularly achieve prices in excess of $3M. Recent sales highlight the strength of demand:
|
Address |
Beds |
Baths |
Land (m²) |
Sale Price |
Sale Date |
|
42 Imperial Ave |
4 |
3 |
668 |
$3,610,000 |
Oct 2024 |
|
72 Dorothea St |
5 |
4 |
728 |
$3,265,000 |
Mar 2024 |
|
165 Dahlia St |
4 |
3 |
602 |
$2,825,000 |
Nov 2024 |
|
9 Prince St |
5 |
3 |
610 |
$2,630,000 |
Aug 2024 |
Median new build price (2025): $3.045M
These figures confirm Cannon Hill’s emergence as a prestige pocket, where newly built luxury homes command significant premiums.
The Entry-Level Alternative
On the other side of the spectrum, entry-level properties (3 bed, 1 bath on 600m² blocks) have risen from $702,500 in 2020 to a current median of $1.2M in 2025.
For buyers considering redevelopment, the equation looks like this:
- Land purchase: $1.2M
- New turnkey build (380m² @ $2,700/m²): $1.026M
- Landscaping/pool allowance: $70K
Total projected cost: ≈ $2.296M
This sits $750K below the cost of purchasing an already completed new build — with the added bonus of creating a bespoke home that meets your lifestyle and design preferences.
Growth Story So Far
The capital growth story in Cannon Hill is compelling. Entry-level homes have surged 71% between 2020 and 2025, reflecting the suburb’s gentrification and rising demand from both locals and interstate buyers. New homes, now breaching the $3M mark, are proving the suburb’s ability to attract high-net-worth purchasers.
With Brisbane’s infrastructure pipeline and the lead-up to the 2032 Olympic Games, Cannon Hill is strategically placed for continued appreciation.
Making the Decision
The choice between buying new and building comes down to priorities:
- Buy New: Ideal for buyers who want immediate occupancy, premium finishes, and zero build management.
- Build Your Own: Better suited for those who want design control, are comfortable with a 12–18 month timeline, and want to leverage the cost advantage to create instant equity.
Final Thoughts
Cannon Hill offers one of Brisbane’s most interesting investment choices: pay a premium for a completed prestige home, or build your dream residence at a lower overall cost. Either way, the suburb’s fundamentals — location, schools, amenities, and growth trajectory — make it a strong long-term play.
At Brisbane Buyers’ Agency, we help buyers weigh these decisions with a strategy-first approach. Whether your path is to buy or build, we ensure your purchase is aligned with your goals and backed by deep market insights. Whilst we are a Buyers Agent Cannon Hill we provide property insights all over Brisbane.
Contact us today to book your free strategy session and discover how we can help you buy in Cannon Hill with confidence.
Data including sale prices, rental yields, and median values have been sourced and calculated using figures from Cotality RP Data (2020–2025). Always consult your financial advisor or property strategist for personalised investment advice.