Southeast Queensland First Home Buyer Hotspots
It’s a prime time to get a foot onto the property ladder, as low-interest rates are here to stay but property prices are forecasted to increase by 20 per cent in the next two years. Queensland first home buyer hotspots have been revealed as record-low interest rates encourage a younger generation to enter the property market.
Upper Coomera with a median house price of $515,000, Coomera with a median house price of $539,250 and Pimpama with a median house price of $460,000, are the most in-demand suburbs among first home buyers for houses. This might be due to the positive outlook on these suburbs future and a good median house price that more first home buyers can afford due to the low-interest rates.
When it comes to units, first home buyers are looking to get into Surfers Paradise with a median unit price of $400,000 and Southport with a median unit price of $365,500, as these areas make a perfect lifestyle change with million-dollar views without the million-dollar price tag for eager beachgoers.
In Greater Brisbane, Springfield Lakes with median house price of $439,000, Redbank Plains with median house price of $318,000 and North Lakes with median house price of $500,000 are the most popular suburbs.
With a median price like in Redbank Plains, it’s not a surprise it’s infiltrated with first home buyers looking to take advantage of the low-interest rates and affordable properties. Neighbouring Springfield Lakes, in particular, is one of the country’s fastest-growing developments with more than 45,000 residents, with 10 per cent of new buyers being from interstate.
Have you been thinking of buying your first home? Check out this link for the currently available properties.
Do you know what property you can afford? Get in touch with our Mortgage & Finance team to find out.