Queensland Treasury first home homebuyer grants over the second half of 2022 showed there were 2,457 payments made, equalling $36.88 million.
That sounds like a lot but it’s a 53 per cent drop on the same period last year, and a 52 per cent drop compared to the year before that, reports realestate.com.au.
PropTrack head of economic research Cameron Kusher says short of a new burst of government stimulus targeting first home buyers, the trend isn’t likely to change soon.
“For the moment it is cheaper to be paying rent rather than servicing a mortgage so I think that will continue to lead to fewer first home buyers,” he said.
However not every market is bereft of first timers. PropTrack shows searches for units are dominating the first home buyer hunt, which is not surprising given their relative affordability.
The most popular search areas for units in the greater Brisbane area include:
- Brisbane City
- West End
- Toowong
- Chermside
For those looking to live luxe on the north side without the price tag, Chermside is worth a look. It’s like a self-contained satellite city built around the sprawling Westfield complex.
Transport connections are plentiful with buses and major road networks connecting commuters to the CBD, airport or the coast (in either direction).
Unit prices start in the $300,000s and if your budget extends into the $400,000s you can have your choice of luxe lifestyles with modern apartment complexes offering swimming pools, city glimpses and space.
Looking to break into the market with a first home buyer budget? Contact us for a chat or view our current listings for sale