Balmoral, Windsor top suburbs for property value growth Balmoral and Windsor were Brisbane's top performing sububs for house property value growth in the year to September. Balmoral and Windsor have been the top suburbs for Brisbane house value growth over the past year. And while property value growth will remain slow in River City in 2014, it will be good news for property hunters, according to an RP Data summary of the 2013 property market. RP Data research analyst Cameron Kusher said property values in Australian capital city grew by 8.3 per cent overall in the 12 months to September, with Sydney and Melbourne values beginning to slow. In Brisbane property values grew by 3.1 per cent. "The Brisbane housing market has recorded value growth of just 3.1 per cent throughout 2013 and may be best placed to capitalise on the looming affordability constraints and easing investment demand in Sydney, Melbourne and Perth," Mr Kusher said. The ongoing weak market conditions in Brisbane over recent years means that housing is significantly more affordable in the city, particularly relative to Sydney and Melbourne. Mr Kusher said low mortgage rates kept homes affordable and property values increasing. "In 2014, however, we anticipate that the rate of growth will be slower next year than it was in 2013," he said. According to the report, southeast Queensland's cheapest homes are on Russell Island, which have a median value of $217,243 and Dinmore ($224,026). The cheapest units are at Beachmere ($159,219) and Woodridge ($180,582). Brisbane's property value growth hotspots The RP Data report shows value growth for houses was highest in Balmoral (15.2 per cent), Windsor (11.5 per cent) and Woodend in Ipswich (11.5 per cent). The largest value growth for units, meanwhile, was in Dutton Park (18.6 per cent), Mt Gravatt (16.5 per cent) and Wooloowin (12.4 per cent). Over five years house value growth has been highest in Wilston (15.9 per cent), Samford Village (15.7 per cent) and Ashgrove 15.5 per cent). Unit growth over those same five years has been the highest in the Logan suburbs of Marsden (50.3 per cent), Eagleby (20 per cent) and Waterford (18.3 per cent). Top suburbs for house value growth (12 months) Balmoral - to $830,530 median value - a growth of 15.2 per cent Windsor - to $658,077 median value- growth of 11.5 per cent Woodend - to $305,670 median value - growth of 11.5 per cent Loganholme - to $357,570 median value - growth of 11.2 per cent Toowong - to $694,964 median value - growth of 10.5 per cent Seventeen Mile Rocks median value - to $520,183 - growth of 10.4 per cent Nundah - to $591,630 median value - growth of 10.0 per cent Marburg - to $304,869 median value - growth of 10.0 per cent Runcorn - to $439,495 median value - growth of 9.9 per cent Bulimba - to $919,159 median value - growth of 9.8 per cent Dutton Park - up to $383,977 median value- growth of 18.6 per cent Mount Gravatt - up to $348,230 median value- growth of 16.5 per cent Wooloowin - up to $328,770 median value - growth of 12.4 per cent East Brisbane - up to $384,479 median value - growth of 12.2 per cent Windsor - up to $345,757 median value - growth of 12.2 per cent Coopers Plains - up to $432,734 median value - growth of 11.8 per cent Kenmore - up to $528,146 median value - growth of 10.1 per cent Morningside - up to $413,548 median value - growth of 9.4 per cent Herston - up to $428,98 median value - growth of 9.1 per cent Sunnybank - up to $368,451 median value - growth of 9.0 per cent What you pay in rent Renting a house is the most expensive in Brookfield and cheapest on the Moreton Bay Islands. At Brookfield in Brisbane's western suburbs a family pays an average $840 a week to rent a home. But the average weekly rent is only $210 a week at Lamb Island, $225 a week for Russell Island and $240 a week at Macleay Island. On the mainland, Ipswich is where you find the cheapest homes to rent - West Ipswich ($250 a week), Leichhardt ($260 a week) and Ebbw Vale ($260 a week). Top five most expensive suburbs to rent a house Brookfield - $840 a week Pullenvale - $813 a week Mackenzie - $750 a week Newstead - $700 a week Fortitude Valley - $660 a week New Farm Brisbane - $650 a week Five least expensive suburbs to rent a house Lamb Island - $210 a week Russell Island - $225 a week Macleay Island - $240 a week Karragarra Island- $250 a week West Ipswich - $250 a week Leichhardt - $260 a week