Ithaca Creek runs through it, and that matters more than the elevation suggests. Ashgrove is also spread across three secondary catchments, so the school question here genuinely has to be answered street by street.
Our patch / Ashgrove 4060
Ashgrove sells a house in eighteen days on 159 sales a year, which for a suburb of this price is quick. Seventy two per cent owner occupied, median household income $149,000.
The numbers
Every figure on this page is Cotality's, for the twelve months to July 2026, and we have left it as published rather than rounding it into a nicer shape. The median is the middle sale price, not an average, and not a valuation.
Kaló haus found here
4
Median house price
$2,000,000
Houses sold, 12 months
159
Days on market
18
Median unit price
$940,000
Cotality, data to July 2026. Brisbane is the whole council area.
Cotality, data to July 2026. Brisbane is the whole council area.
Median house, a year earlier
$1,795,000 in the twelve months to July 2025
Change in median value
+5.3% over twelve months. This is Cotality's valuation series, which runs on a different base from the median sale price above, so the two will not agree and are not meant to.
Vendor discount
-4.5% from the asking price, typically
Units
$940,000 median, 47 sales, 12 days to sell
In context
Cotality, data to June or July 2026 depending on the suburb. The periods are not identical, so read this as the order rather than the gap.
The rest of the patch
We have bought right across Brisbane, 306 kaló haus in 108 suburbs, and we will happily work anywhere in the city. This patch is simply where we have done it most often, and the whole of it is on Our patch.
Who lives here
72%
Owner occupied
28%
Rented
$900
Median weekly rent, house
$635
Median weekly rent, unit
2.3%
Gross yield, house
3.5%
Gross yield, unit
13,450
Population
38
Median age
$149K
Median household income
Tenure, population, age and household income are ABS Census 2021. Rents are the Cotality median weekly asking rent, read November 2026, with periods running from June to October 2026 depending on the suburb. Gross yield is the annualised rent against the median sale price on this page, before costs, so it is a comparison between suburbs rather than a forecast of your return. A thin rental market moves these figures around, and where a suburb has too few sales to mean anything the line is left out rather than filled in.
Before you buy here
This is not a river suburb, and the risk here is creek flooding and overland flow rather than the Brisbane River. Overland flow does not follow the creek line and catches people out for exactly that reason, because elevation on its own is no protection. Council maps it property by property, so we read the report rather than assuming the high side of the street is fine.
Brisbane City Council publishes flood risk address by address through the FloodWise Property Report. There is no suburb level answer, and anyone who gives you one is guessing. Council's creek mapping was last updated in September 2024, so older advice may be out of date.
Roads, rail and river
Train
Newmarket station 2.3km, Alderley 2.6km
Bus
the Waterworks Road corridor
Road
4.3km to the CBD
State school catchments
Primary
Ithaca Creek State School, Ashgrove State School and Oakleigh State School
Secondary
Kelvin Grove State College, The Gap State High School and Everton Park State High School
Catchments follow streets, not suburb boundaries, and Ashgrove falls across more than one. Confirm your exact zone by street address on EdMap before you let a catchment decide anything. We do this on every property.
What’s coming
Plenty gets talked about at an open home as though it were settled. Each item below carries the stage it is actually at, because the difference between a project under construction and one somebody has merely lodged is the difference between a reason to buy and a reason to wait.
Ilé Ashgrove, 257 Waterworks Road
Approved in June 2025 as a four storey retail scheme with a full line supermarket. A change application lodged in July 2026 would make it nine storeys and 97 apartments with less retail, and it is undecided. No supermarket operator has been confirmed.
Two things get quoted at open homes across all of Brisbane and both are worth getting right. Cross River Rail is now expected to carry its first passengers in 2029, not 2026, and its four new stations are Boggo Road, Woolloongabba, Albert Street and Roma Street, so most of the eastern suburbs gain network capacity rather than a station. And the 2032 main stadium is at Victoria Park: the Gabba rebuild was abandoned in March 2025 and the athletes village moved from Northshore Hamilton to Bowen Hills.
Checked 27 October 2026. Development status changes constantly, so we check every one of these again before you make an offer rather than trusting this page.
Ithaca Creek runs through it, and that matters more than the elevation suggests. Ashgrove is also spread across three secondary catchments, so the school question here genuinely has to be answered street by street.
The market now
The medians above cover the twelve months to July 2026, and Brisbane has turned since. Cotality has the city down 1.5 per cent in September 2026 and 4.7 per cent across the quarter, a sixth consecutive monthly fall, leaving values close to 6 per cent below the peak they reached in May. Annual growth was revised down from 10.8 per cent to 5.9 per cent in a single release.
Here is the clearest measure of how far it has turned. A year ago a house in Brisbane sold in a median 17 days. It now takes 38. The figure for Ashgrove above is a median across the twelve months to July 2026, not today, which is exactly why a twelve month median is the wrong thing to buy off on its own. Total listings are up more than 60 per cent while new listings have fallen, sales are down about 27 per cent on the same quarter last year, and in the week to 24 October only 21 per cent of Brisbane auctions sold under the hammer. A hundred and seventeen passed in. Every one of those is a conversation rather than a contest.
Two other things are shaping who you are bidding against. The cash rate has been at 4.6 per cent since the end of September, and from July 2027 negative gearing on residential property is limited to new builds while the fifty per cent capital gains discount is replaced by indexation plus a minimum tax. Both are law, neither touches the main residence exemption, and your accountant is the right person to advise you on your own position. The effect we see at inspections is fewer investors in the room.
What all of that means for a buyer here: a twelve month median is a rear view mirror, and right now it is flattering. There is more stock, more time, and more room to negotiate than there has been in four years.
Cotality Monthly Housing Chart Pack, October 2026; Domain auction results, week to 24 October 2026, preliminary; Reserve Bank of Australia; Australian Taxation Office. Read on 27 October 2026 and superseded by the November release.
An hour, no charge, and no commitment at the end of it. If we cannot add value to your search in Ashgrove, we will say so on the call.