St Lucia vs The GapTwo Brisbane suburbs compared for a home loan
St Lucia (QLD 4067) is approximately 5 km south-west of the Brisbane CBD, on a peninsula of the Brisbane River. The Gap (QLD 4061) is approximately 10 km north-west of the Brisbane CBD, in the valley between Mount Coot-tha and Enoggera Hill. At the 2021 Census, St Lucia had 12,220 residents with a median age of 25, and The Gap had 17,318 residents with a median age of 42.
The most common occupied dwelling was flats and apartments in St Lucia and separate houses in The Gap. Flats and apartments made up 60% of occupied dwellings in St Lucia and 1% in The Gap, while 54% of St Lucia households rented compared with 15% in The Gap. 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 4067 · Western Brisbane
St Lucia
St Lucia is a University of Queensland riverside suburb where the 2021 Census recorded a median age of 25 and 53.7 per cent of households renting.
City of Brisbane. Approximately 5 km south-west of the Brisbane CBD, on a peninsula of the Brisbane River.
Read the full St Lucia guideQLD 4061 · North-Western Brisbane
The Gap
The Gap is a large bushland valley suburb where 92.0 per cent of occupied homes are separate houses and 45.1 per cent of households hold a mortgage.
City of Brisbane. Approximately 10 km north-west of the Brisbane CBD, in the valley between Mount Coot-tha and Enoggera Hill.
Read the full The Gap guide
What buying in St Lucia and The Gap 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 St Lucia and The Gap.
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 St Lucia to see the repayment, transfer duty and upfront cash.
Enter a price for The Gap 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.
St Lucia and The Gap: 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 | St Lucia | The Gap |
|---|---|---|
| People and households | ||
| Residents | 12,220 | 17,318 |
| Median ageAustralia 38 | 25 | 42 |
| Average household sizeAustralia 2.5 | 2.4 | 2.9 |
| Median household income, weeklyAustralia $1,746 | $1,761 | $2,573 |
| Housing costs at the 2021 Census | ||
| Median rent, weeklyAustralia $375 | $410 | $490 |
| Median mortgage repayment, monthlyAustralia $1,863 | $2,000 | $2,253 |
| Who owns and who rents | ||
| Households rentingAustralia 31% | 54% | 15% |
| Owned with a mortgageAustralia 35% | 18% | 45% |
| Owned outrightAustralia 31% | 27% | 39% |
| Types of home | ||
| Separate housesAustralia 72% | 33% | 92% |
| Townhouses, terraces and semi-detachedAustralia 13% | 7% | 7% |
| Flats and apartmentsAustralia 14% | 60% | 1% |
| Homes with two bedrooms or fewer | 45% | 4% |
| Homes with four bedrooms or more | 24% | 54% |
| Dwellings unoccupied on Census night | 11% | 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 St Lucia and The Gap
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.
St Lucia
- Investors
- First home buyers
- Purpose-built student accommodation is specialised security attracting much lower maximum LVRs.
- Lenders set a minimum internal floor area below which unit lending tightens or is declined.
- Single-development exposure limits can constrain lending within a large apartment complex.
- Only 18.0 per cent of households held a mortgage, roughly half the national share.
- Flood exposure varies by address, so obtain a FloodWise Property Report for the property.
The Gap
- Upgraders
- First home buyers
- Downsizers
- Mortgaged ownership at 45.1 per cent means serviceability usually binds before deposit.
- Whether a bushfire overlay applies is a council question for the specific address.
- Creek and overland flow flooding differ from river flooding, so obtain a FloodWise report.
- Insurers price bushfire and flood risk, and a lender requires cover at settlement.
- Only 15.3 per cent of households rented, so the tenant pool is small for investors.
Housing stock in St Lucia and The Gap compared
St Lucia
- Apartments
- Flats and apartments numbered 2,347 at the 2021 Census, 59.6 per cent of occupied homes.
- Separate houses
- Separate houses numbered 1,297, or 33.0 per cent of occupied homes, well below the national 72.3 per cent.
- Two and three bedroom dwellings
- At the 2021 Census, 1,583 dwellings had two bedrooms and 1,196 had three.
The Gap
- Detached family houses
- Separate houses numbered 5,438 at the 2021 Census, 92.0 per cent of occupied homes.
- Three and four bedroom homes
- At the 2021 Census, 2,458 dwellings had three bedrooms and 2,361 had four, with 844 having five or more.
- Almost no apartments
- Only 54 flats were counted among 5,914 occupied private dwellings, or 0.9 per cent.
Official sale price and rent figures for St Lucia and The Gap
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.
St Lucia
No government agency publishes a free median sale price or rent series for St Lucia, so none is shown. A broker can supply recent comparable sales for a specific property as part of a free assessment.
The Gap
No government agency publishes a free median sale price or rent series for The Gap, 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 St Lucia and The Gap
St Lucia
Transport
- University of Queensland Bus Station (bus)
- Guyatt Park and University of Queensland ferry terminals (ferry)
- Eleanor Schonell Bridge (road)
- Toowong and Taringa stations (train)
- Sir Fred Schonell Drive (road)
Amenities
- University of Queensland St Lucia campus
- St Lucia Golf Links
- Hawken Drive shops
- Schonell Theatre
- Brisbane River foreshore parks
The Gap
Transport
- Waterworks Road (road)
- Settlement Road (road)
- Brisbane buses (bus)
Schools and campuses
- The Gap State School (primary, government)
- Payne Road State School (primary, government)
- Hilder Road State School (primary, government)
- St Peter Chanel Primary School (primary, catholic)
- The Gap State High School (secondary, government)
Amenities
- The Gap Village
- Enoggera Reservoir
- D'Aguilar National Park
- Walkabout Creek Discovery Centre
- Walton Bridge Reserve
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: St Lucia or The Gap
An accredited mortgage broker can check your borrowing power against prices in St Lucia and The Gap, and explain how lenders treat the homes you are considering. The assessment is free of charge and carries no obligation.