20 Oct 2021

The QLD suburbs where first-home buyers should be looking now

The Queensland property market is red hot, but there are still suburbs and towns offering first home buyers the opportunity to get their foot on the real estate ladder.

You just have to know where to look.

Here, four Queensland property experts share their tips on where buyers should be looking this spring selling season.

FIRST HOME BUYERS UNDER $750,000

BRISBANE NORTH

Teneriffe: Teneriffe is Brisbane’s most expensive suburb with a median now over $2 million. It is however still possible to enjoy the suburb’s amenity without the big price tag by looking at the apartment market. The median apartment price in Teneriffe is $630,000 which means for under $750,000 you should get a fair assortment of options available. NC

Ferny Hills/Arana Hills: Both are becoming increasingly popular due to the high demand, affordability, high rent returns and liveability of this area. Both are becoming increasingly a favourite for the first homebuyer or for the entry level property portfolio investor. JM

Albany Creek, Eatons Hill, Warner: Approximately 20-25km from the CBD, which in Sydney would be classed as ‘inner city’. Established homes from new through to 20-years-old. Still has availability of low set four-bedroom, two-bathroom homes on 600-700sq m blocks in good locations and school catchments. JD

Banyo: If you are searching for the perfect blend of proximity to the city and affordability look no further. MP

BRISBANE SOUTH

Windaroo: Windaroo has a median price of $585,000 and has seen decent price and rental growth over the past 12 months. The homes are large and blocks are a decent size. It has a golf course which adds to the amenity of the suburb. NC

South Brisbane/Woolloongabba: Both offer a choice of cafes, retail and bars, and it is walkable. In Woolloongabba, South City Square is set to create another inner south hub and further development and redevelopment ahead of the 2032 Olympics. JM

Mount Gravatt East, Carina Heights, Mansfield: Approximately 10km from the Brisbane CBD, there is still value to be had in these south/eastern suburbs. Offering a mixture of older entry level houses and townhouses, these suburbs offer the conveniences sought by first home buyers. JD

Slacks Creek: First home buyers must be serious about Logan. Positioned just outside the Brisbane City Council, Slacks Creek offers affordability without sacrificing any amenities and easy access to the M1. These markets are only getting stronger. MP

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BRISBANE EAST

Russell Island: Island life isn’t for everyone and the isolation may not appeal but the median price for Russell Island is less than $250,000. It has also become incredibly popular during the pandemic with prices rising by in excess of 30 per cent. If you have a flexible job, enjoy a laid back lifestyle and don’t have a big deposit, it may be worth a look. NC

Wynnum/Manly: The unit market in the heart of Wynnum and Manly for FHB’s is offering choice and it’s one of the most picturesque parts of the east to live. There are also housing options just a little further back from the waterfront. The growing restaurant and cafe/bar culture is what seems to be keeping generations here and they are bringing their friends to enjoy the bayside lifestyle with boating at the top of the list. JM

Morningside: There is still great buying in Morningside, with a variety of near-new townhouses still great value. Morningside is the more affordable option to first home buyers looking to be close to the city. Alternatively, houses in Murarrie that are ripe for renovation still fall into this bracket. JD

Wynnum: Buying close to the water and 14 kilometres to the CBD is a recipe for success and Wynnum has flown under the radar with many affordable properties transacting over the last 12 months. This lifestyle is attracting some significant builds and renovations which are setting the tone for strong years of growth on the Bayside ahead. MP

BRISBANE WEST

North Ipswich: It is almost impossible to find suburbs with medians under $350,000 in our capital cities, particularly one that is seeing more than 14 per cent price growth and over 6 per cent rental growth. North Ipswich has a mix of houses – from renovated Queenslanders to some that require a lot of work. It certainly is affordable. NC

Springfield Lakes: Springfield Lakes is growing rapidly with a number of new infrastructure projects and it provides a choice of housing from small to large land parcels and some unit or townhome dwellings. Surrounded by parks and lifestyle living. It’s the perfect place for those who are not looking to reside close to the city. JM

Centenary: The Centenary cluster suburbs (postcode 4074) is a very hot market. It is where first home buyers, many with children, some planning to have them, are attracted by the good schools and affordability. They buy to stay in the home for at least 10 to 15 years. They can buy 40 to 50-year-old homes that need work, without overcapitalising. JD

Oxley: Follow the road from the prestigious suburbs of Chelmer, Sherwood and Graceville and you will find this bustling community that has taken off. Further development is underway and owners have experienced accelerated growth over the last year. This region is one to watch. MP

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GOLD COAST

Palm Beach: The best thing about the Gold Coast are the beautiful beaches (at least in my opinion) so if I had a budget of less than $750,000 I would look at a beachside apartment. In Palm Beach, the median price for an apartment is $600,000. Not only have apartments in this area seen strong price growth but rental growth has also been great. NC

Surfers Paradise: For units, Surfers is proving to be a hot spot for first home buyers who love the night life and cafe culture, and then they can just chill out at the beach in their down time. Also you don’t have to own a car as everything is here. JM

Benowa, Southport, Labrador, Molendinar, Carrara: These suburbs offer mainly townhouses, duplexes and units or very small houses for this price. Popular for the young workers because they are close to all amenities like – hospitals, university and CBD. JD

Upper Coomera: This corridor has enjoyed rapid growth and is becoming the choice for families who are looking for a blend of Gold Coast proximity and practicality with the commute to Brisbane being not too far for some. MP

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SUNSHINE COAST

Sunrise Beach: The Sunshine Coast has seen incredible price growth over the past 12 months and buying a house in many beachside areas is now out of reach for most first home buyers. Buying an apartment however isn’t, and Sunrise Beach’s median price for an apartment is $600,000. NC

Beerwah: Beerwah people are wonderful and friendly and there is a great community feel. It is surrounded by the hinterland and it is well poised for solid growth. It’s a beautiful area to live and you can still enjoy the beach lifestyle only 30 minutes away. JM

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CAIRNS

Freshwater: Freshwater houses are likely to have now exceeded the $750,000 median but it is still possible to get a unit for an affordable price. The median for units is currently just $250,000 however prices have increased significantly over the past 12 months. Close to the beach, to the CBD and lots of amenity, there is a lot to like. NC

Gordonvale, Babinda: First home buyers are now gravitating towards established homes in the $450,000 to $550,000 price range, predominantly in the outer suburbs. The southern Cairns corridor offers relatively new homes, good schools and sporting facilities and there is considerable infrastructure in pace or planned to meet the needs of young families. JD

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TOWNSVILLE

Bushland Beach: Townsville is not an expensive city and has lots of options at this price point. The suburb of Bushland Beach has a median of $420,000 and has seen significant price and rental growth over the past 12 months. It also has a great beach. NC

North Ward: North Ward and it’s proximity to the The Strand and the Townsville beach precinct makes it very attractive. There are markets and plenty of running tracks including Castle Hill just a stroll away. Those wanting a city buzz and atmosphere are choosing to live here. JM

New estates: The newer subdivisions such as Harris Crossing, Greater Ascot and Sanctum are definitely on the radar of a lot of first home buyers entering the market. Here they can take full advantage of the rebates while gaining a brand-new home with builders’ warranties and worry-free living for many years to come. JD

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MACKAY/WHITSUNDAY

Blacks Beach: Containing arguably the best beach in the region, Blacks Beach is also surprisingly affordable with a median of $385,000. Prices have increased significantly over the past 12 months. NC

Blacks Beach: First home buyers can live the lifestyles of the rich and famous with a budget of $750k in Mackay and the Whitsundays. $500,000 in Mackay will get you four bedrooms, two bathrooms, side access and a decent yard near the beach. JD

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WIDE BAY/FRASER COAST

Tin Can Bay: It is a popular tourist destination but also affordable for first home buyers. Tin Can Bay has a median of just $379,000. Prices have increased by 17 per cent over the past 12 months. NC

Hervey Bay: This is the up-to-$450,000 price bracket, if a property can be found in what is and extraordinarily tight market. The best chances are in Urangan, Kawungan, Eli Waters and Urraween. JD

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TOOWOOMBA

Kingsthorpe: There are a lot of options for suburbs with medians under $400,000 in Toowoomba however Kingsthorpe is currently seeing the highest price growth, nearly 15 per cent. The suburb is a bit out of town and is quiet which may not appeal to everyone. NC

East Toowoomba: Properties here hold their value long term. They are mostly character homes on large blocks. The $400,000 to $450,000 range is the popular buy-in price in a suburb with a $380,000 median. First home buyers see serviceability in their loans and a location that affords the greatest opportunity for capital growth. JD

Originally published as The QLD suburbs where first-home buyers should be looking now

SOURCE: https://www.news.com.au/national/queensland/the-qld-suburbs-where-firsthome-buyers-should-be-looking-now/news-story/aaf92e4a825404d050310acc7c3074c5

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