Ellen Grove vs Forest LakeTwo Brisbane suburbs compared for a home loan
Ellen Grove (QLD 4078) is approximately 24 km south-west of the Brisbane CBD, beside the Centenary Highway. Forest Lake (QLD 4078) is approximately 24 km south-west of the Brisbane CBD, around a constructed lake. At the 2021 Census, Ellen Grove had 3,586 residents with a median age of 30, and Forest Lake had 22,676 residents with a median age of 37.
In both suburbs the most common occupied dwelling was separate houses. Flats and apartments made up 2% of occupied dwellings in Ellen Grove and 2% in Forest Lake, while 69% of Ellen Grove households rented compared with 26% in Forest Lake. These differences matter for finance, because lenders assess apartments, strata buildings and houses on land differently.
Both suburbs are in the same state, so transfer duty is calculated on the same scale and the difference in upfront cost comes from the purchase price. The panel below applies that scale, and an estimate of lenders mortgage insurance, to the prices you enter.
QLD 4078 · South West Brisbane
Ellen Grove
Ellen Grove is an outer south-west Brisbane suburb where 68.6 per cent of households rented at the 2021 Census and only 11.1 per cent owned outright.
Brisbane City Council. Approximately 24 km south-west of the Brisbane CBD, beside the Centenary Highway.
Read the full Ellen Grove guideQLD 4078 · South West Brisbane
Forest Lake
Forest Lake is Brisbane's first master planned community, where 3,625 dwellings were owned with a mortgage at the 2021 Census, or 47.5 per cent.
Brisbane City Council. Approximately 24 km south-west of the Brisbane CBD, around a constructed lake.
Read the full Forest Lake guide
What buying in Ellen Grove and Forest Lake would mean for the loan
The difference between two suburbs is usually a difference in price, and price drives the deposit, the transfer duty, any lenders mortgage insurance and the repayment. Enter the prices you are seeing and the panel works out each of those for Ellen Grove and Forest Lake.
Your prices and deposit
Enter the price you are seeing in each suburb. BorrowWise does not quote prices, so the comparison uses yours.
Enter a price for Ellen Grove to see the repayment, transfer duty and upfront cash.
Enter a price for Forest Lake to see the repayment, transfer duty and upfront cash.
Warning: The interest rate used here is an example only. It is not a comparison rate and is not a rate offered by any lender, and it does not include fees and charges. Different rates, terms, fees or loan amounts will give a different result.
Estimates only. Repayments assume a principal and interest loan at a constant rate, which is an assumption and not a current market rate. Transfer duty is indicative for established homes, first home buyer relief depends on eligibility, and upfront cash includes an allowance of $3,000 for conveyancing and inspections. Lenders mortgage insurance is an estimate and is added to the loan. A lender makes its own assessment.
Ellen Grove and Forest Lake: Census profile compared
Figures are from the 2021 Census, so rents, repayments and incomes have moved since. They are most useful for comparing one suburb with another and with Australia as a whole.
| Measure | Ellen Grove | Forest Lake |
|---|---|---|
| People and households | ||
| Residents | 3,586 | 22,676 |
| Median ageAustralia 38 | 30 | 37 |
| Average household sizeAustralia 2.5 | 2.9 | 2.8 |
| Median household income, weeklyAustralia $1,746 | $1,353 | $1,921 |
| Housing costs at the 2021 Census | ||
| Median rent, weeklyAustralia $375 | $350 | $390 |
| Median mortgage repayment, monthlyAustralia $1,863 | $1,491 | $1,690 |
| Who owns and who rents | ||
| Households rentingAustralia 31% | 69% | 26% |
| Owned with a mortgageAustralia 35% | 19% | 47% |
| Owned outrightAustralia 31% | 11% | 25% |
| Types of home | ||
| Separate housesAustralia 72% | 61% | 95% |
| Townhouses, terraces and semi-detachedAustralia 13% | 37% | 3% |
| Flats and apartmentsAustralia 14% | 2% | 2% |
| Homes with two bedrooms or fewer | 4% | 4% |
| Homes with four bedrooms or more | 19% | 52% |
| Dwellings unoccupied on Census night | 7% | 4% |
Source: Australian Bureau of Statistics, 2021 Census (CC BY 4.0). Tenure shares exclude households that did not state their tenure. Dwelling shares are of occupied private dwellings.
Home loan considerations in Ellen Grove and Forest Lake
Lenders treat houses on land, townhouses and apartments differently, and some apply extra conditions to small apartments, high-density buildings or particular postcodes. These are the points each guide raises.
Ellen Grove
- First home buyers
- Investors
- Median household income of $1,353 against the national $1,746 makes assessed serviceability the binding constraint.
- A lender counts only the applicants' income, while each dependant raises the household expenditure measure applied.
- Body corporate levies on the 423 attached dwellings reduce assessed borrowing capacity as a committed expense.
- Single-development exposure limits and a high proportion of rented lots can lower the loan-to-value ratio offered.
- Bullockhead Creek exposure should be checked address by address through a FloodWise Property Report.
Forest Lake
- First home buyers
- Upgraders
- Investors
- A deep pool of comparable estate houses makes a shortfall between contract price and valuation unlikely.
- A mortgage share of 47.5 per cent leaves the suburb sensitive to changes in the cost of borrowing.
- Housing built from the early 1990s is reaching the point where roofing, guttering and fencing need replacement.
- Unapproved decks, pergolas, sheds, carports and pools are a common compliance issue in estate housing.
- Flood exposure varies by address and should be checked through a FloodWise Property Report before going unconditional.
Housing stock in Ellen Grove and Forest Lake compared
Ellen Grove
- Three-bedroom dwellings
- The Census recorded 878 of 1,155 occupied dwellings with three bedrooms, an unusually uniform stock.
- Townhouses
- Townhouse and semi-detached dwellings numbered 423, or 36.6 per cent, close to three times the national 12.6 per cent.
- Detached houses
- Separate houses numbered 707, or 61.2 per cent, below the national share of 72.3 per cent.
Forest Lake
- Detached houses from the 1990s
- Separate houses numbered 7,337 at the 2021 Census, 94.9 per cent of occupied homes, most built within one cycle.
- Three and four bedroom homes
- The Census recorded 3,364 dwellings with four bedrooms and 3,306 with three, out of 7,731 occupied homes.
- Limited attached housing
- Townhouses numbered 266 and flats or apartments 125, together under 5 per cent of occupied homes.
Official sale price and rent figures for Ellen Grove and Forest Lake
Only figures published free of charge by a government agency are shown. Where none is published the space is left empty rather than filled with an estimate. Each guide charts the full series.
Ellen Grove
No government agency publishes a free median sale price or rent series for Ellen Grove, so none is shown. A broker can supply recent comparable sales for a specific property as part of a free assessment.
Forest Lake
No government agency publishes a free median sale price or rent series for Forest Lake, so none is shown. A broker can supply recent comparable sales for a specific property as part of a free assessment.
Transport, schools and amenities in Ellen Grove and Forest Lake
Ellen Grove
Transport
- Richlands station (train)
- Springfield station (train)
- Waterford Road bus services (bus)
- Centenary Highway (road)
Amenities
- Waterford Road shops
- Ellen Grove Post Office
- Bullockhead Creek corridor
- Forest Lake Uniting Church
Forest Lake
Transport
- Richlands station (train)
- Forest Lake bus services (bus)
- Centenary Highway (road)
- Forest Lake Boulevard (road)
Schools and campuses
- Forest Lake State School (primary, government)
- Grand Avenue State School (primary, government)
- Forest Lake State High School (secondary, government)
- St John's Anglican College (combined, independent)
Amenities
- Forest Lake Shopping Centre
- Forest Lake parkland
- Lake pedestrian and cycleway circuit
- Forest Lake Village Shopping Centre
School listings show name, level and sector only. Enrolment areas change, so confirm eligibility for a specific address with the school or the Queensland education department.
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Request a free assessment: Ellen Grove or Forest Lake
An accredited mortgage broker can check your borrowing power against prices in Ellen Grove and Forest Lake, and explain how lenders treat the homes you are considering. The assessment is free of charge and carries no obligation.