The Median Varsity Lakes Property Is $1,412,500. Here's What That Actually Looks Like.

The median is the most-quoted number in property, and the least understood. It's an abstraction — a midpoint pulled from dozens of sales. Right now, 8 Rice Place makes it concrete. At $1,395,000, this is about as close as a real home gets to "what the average buyer in Varsity Lakes pays."

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The Property

8 Rice Place is a single-level, four-bedroom house on a 514 sqm block in a cul-de-sac pocket of Varsity Lakes. Two bathrooms, a double lock-up garage, and a pool. The layout runs to multiple living and dining zones — the kind of flexible floor plan that suits a growing family more than a first home. An ensuite off the main bedroom, ducted comfort throughout, and an outdoor area complete the picture.

There are no clear renovation signals in the listing, and no premium view. This reads as a solid, liveable family home rather than a recently updated showpiece — which, for a median-benchmark exercise, is exactly the point. The block itself sits above the suburb's median lot size of 464 sqm, giving it 50 sqm more ground than the typical Varsity Lakes sale. Whether that land advantage offsets the absence of a renovation premium is the question a buyer has to price for themselves.

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Why This Sale Matters

Buyers hear the median quoted constantly, but they rarely get to stand inside it. The Varsity Lakes median sale price is $1,412,500. What does that money actually buy? This listing is the answer — priced 1.2% below the suburb median, and 0.4% below the median specifically for four-bedroom homes ($1,400,000). On price alone, it is within a rounding error of the exact midpoint of the market.

So the interesting exercise isn't whether this home is cheap or expensive. It's whether it's representative. On land, it's slightly better than median — 514 sqm against a 464 sqm typical block. On the dwelling itself, it appears to sit right in the middle: four bedrooms, two bathrooms, double garage, pool, no renovation, no view. That's the median specification, more or less, delivered on a slightly larger-than-median block for a slightly below-median price.

That combination is worth watching, because it tests a specific claim about the current market. Varsity Lakes is running a median days on market of 26 days, with 69.2% of sales clearing inside 30 days. If this home is genuinely a fair representation of the median at a fair median price, it should sell near that pace. If it lingers, it tells you the number on paper and the home behind it aren't lining up the way the statistic implies.

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What the Numbers Say

• Asking price: $1,395,000
• Suburb median (quarterly, Q2 2026): $1,412,500 — this home asks 1.2% below it
• Four-bedroom median: $1,400,000 — this home asks 0.4% below it
• Lower quartile: $1,205,000 | Upper quartile: $1,503,750
• Days on market: Listed 1 day ago, against a 26-day suburb average
• Sales tracked (last 12 months): 60
• Median lot size: 464 sqm — this block is 514 sqm

The wider trend gives the price context. Varsity Lakes has posted +17.7% annual price growth and +8.5% over the quarter — a market in what the data calls strong expansion. But supply is loosening: 5.1 months of stock, the deepest in the southern corridor, and stale listings over 60 days have edged up to 12.9%. For comparison, neighbouring Burleigh Waters is running 3.5 months of supply. Varsity Lakes has more choice on the shelf, which matters when a home is priced to be the market's midpoint rather than its standout.

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Our Take

This looks like a fair deal at the median — not a bargain, not a stretch. The pricing is honest: a touch under both the suburb and the four-bedroom median, on a block that carries a genuine land advantage over the typical Varsity Lakes sale. That's a defensible ask.

The open question is the dwelling. With no renovation and no view, this home leans on its footprint, its pool, and its cul-de-sac position to justify sitting at the midpoint. In a market where nearly 70% of sales clear inside a month, a well-presented median home priced at the median should move. But with supply the deepest in the corridor and stale listings creeping up, median money now buys buyers a little more patience than it did a quarter ago. The test is whether "representative and fairly priced" is enough to sell quickly when there's more competition on the market — or whether buyers hold out for something with an update or a view at the same money. That's the thread to pull. Watch the days on market against that 26-day average.

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Follow This Sale

We'll publish the result in our How It Sold series once this one settles — and whether the median home sold at the median will tell us plenty about where Varsity Lakes really sits right now. Follow Fields to see what happens.

Know your ground.

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Disclaimer: The information in this article is for general informational purposes only and does not constitute financial, investment, or valuation advice. Fields Real Estate (Licence No. 4832972) makes no warranty as to the accuracy or currency of data published. Readers should conduct their own due diligence and seek independent professional advice before making any property or investment decision. Read our full disclaimer →