This is a boost of $300,000 compared to the current cap.
Not surprisingly this is expected to see a rush of interest in suburbs that appeal to first timers.
“Uncapping the number of places almost surely will see more first-time buyers using the scheme,” REA Group executive manager of economics Angus Moore told realestate.com.au.
“While first-home buyers are a reasonably small part of the market overall, we may see bigger effects in the price brackets and areas where first-home buyers are particularly concentrated.”
Here on Brisbane’s north side, suburbs like Bald Hills are already experiencing high demand with 98 enquiries per listing. Given the median price tag of $850,000 it is expected to see a surge in demand as the price cap lifts.
Units in Aspley are also tipped to get hotter. Units for sale in this burb are already attracting 77 enquiries per listing and the median price of $780,000 is likely to see increased interest under the expanded scheme.
Check out the most in-demand Brissie suburbs for houses with median prices under the First Home Guarantee price cap:
- Redbank Plains, $700,500
- Browns Plains, $802,500
- Slacks Creek, $743,500
- Loganlea, $780,000
- Waterford West, $720,000
- Darra, $950,000
- Tanah Merah, $900,000
- Beenleigh, $715,000
- Loganholme, $792,500
- Bald Hills, $850,000
View the most in-demand Brissie suburbs for units with median prices under the First Home Guarantee price cap:
- Paddington, $850,000
- Newmarket, $725,000
- Windsor, $700,750
- Wishart, $780,000
- Aspley, $780,000
- Eight Mile Plains, $725,000
- Greenslopes, $760,000
- Ashgrove, $805,000
- Alderley, $700,000
- Kangaroo Point, $767,500
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