This program gives first-time buyers the chance to secure a Brisbane property for under $1 million with just a 5 per cent deposit – without paying lenders mortgage insurance. That’s a nice saving.
But what can you get in Brissie in that price range?
The answer is quite a bit!
Here in the northern middle ring, an into the outer, you’ll have the option of standalone homes. Value hunters should seek out post-war homes with good bones and the chance to add value.
Those who want something newer might want to consider a townhouse. Prices for townhouses have risen considerably recently, but options still exist in the sub-million-dollar range.
Unit hunters will be spoiled for choice – take your pick of burbs and unit styles!
But prices are changing fast as competition hits up below the million dollar mark.
“For select, well-located properties, price steps of more than $100,000 compared with a couple of months prior were evident through October as scarcity collided with buyer urgency,” reports Australian Property Investor Magazine.
“Only around 43 per cent of Brisbane suburbs have a median house value below the $1 million threshold, whereas roughly 94 per cent of Brisbane suburbs have a median unit value under $1 million.
“This structural reality channels a large pool of first-home buyers and budget-constrained upgraders into the unit segment, amplifying competition there.”
So if you’re looking to buy, get your plans sorted and get ready to roll!
Ready to make your move into the property market? View our current listings for sale.
Ready to cash in? Find out how much your property is worth or talk to us about selling.
