As Brisbane property prices soar to record highs, the hopes of many first home buyers are fading. However there are still pockets of affordability in Brisbane for first-time buyers, ready to make their move.
The stringent guidelines surrounding the First Home Owners Grant, and the requirement to purchase a new build, mean that it is not suitable for everyone.
At LJBA, we’ve been able to help a multitude of first home buyers, by looking at some alternatives.
Consider a Unit for your First Home
Due to rising property prices and economic pressures, many first home buyers are choosing instead to purchase a unit, villa, or townhouse. Units in Greater Brisbane have shown better median price growth than both Melbourne and Sydney over the past year – so they can certainly offer a sound long-term investment, in addition to offering low maintenance and the ease of single level living.
The big advantage of considering a unit is that you are likely to be able to purchase close to the city and major suburban centres, with all their conveniences.
Areas to consider include Fortitude Valley, Newstead, Chermside and Nundah on the northside; or Coorparoo, Morningside, Murarrie and Thorneside in the south.
Best Northern Suburbs
Affordable established homes are still available in some parts of Brisbane’s northside.
Petrie is an example. Located 24km north of Brisbane, it offers a blend of older homes and modern townhouses, with a median house price of $687,500. The train station makes it appealing to commuters, and there are ample amenities such as schools, parklands, and the new Moreton Bay campus of the University of the Sunshine Coast – making Petrie an excellent choice for first home buyers seeking affordability with growth potential.
Suburbs with similar potential include Bracken Ridge, Burpengary, Griffin and Narangba.
Affordable Brisbane Suburbs
There are still some areas of south-east Queensland with properties available within a a first home buyer’s budget. These include:
- Some Ipswich suburbs, such as Goodna and Collingwood Park.
- In the south, Logan suburbs such as Marsden and Browns Plains.
- Units in Acacia Ridge and Kuraby.
How A Buyers Agent Can Help
It’s an extremely competitive market, with buyers needing to move on properties faster than ever. If you’ve been looking for a while, you’ll know how difficult it is!
Engaging a buyer’s agent can save you time, money and stress – and when you choose LJBA, you benefit from our expertise, strong relationships with local selling agents, and in-depth knowledge of the market. We know the best suburbs in Brisbane for first home buyers, and can help you achieve your home ownership goal within your budget, much sooner than if you go it alone!
Click to book in your FREE consult call today and let’s get started!