Home
  • plan
  • Invest
  • Property
  • enquire now
  • Learn
Home
DPN
  • plan
  • Invest
  • Property
  • enquire now
  • Learn

Sidelined FHBs coming back in Queensland

First homebuyers are returning to the Queensland market after spending the last two years "waiting on the sidelines".

TAGS

Beginner (575) / Intermediate (540) / Expert (564)

First homebuyers are returning to the Queensland market after spending the last two years "waiting on the sidelines".

ABS data has indicated that first homebuyer commitments accounted for 20% of all Queensland owner-occcupied dwellings financed in April. The result is above the long-term average for the state, and is up 35% on the same period last year.

REIQ chair Pamela Bennett said first homebuyers were returning after being inactive in the market since the removal of the First Home Owners Boost in 2010.

"There is little doubt that the FHOB was a successful policy during the GFC which brought the buying decisions of many first homebuyers forward and helped to underpin our market during uncertain times. It has taken a few years for underlying demand from first-timers to strengthen once again and that is what we are now starting to see in the market," she said.

Bennett said interest rates had fallen since the removal of the FHOB, and that buyers could now access the $7,000 First Home Owners Grant, as well as stamp duty concessions up to $15,000. She said comparative affordability had also coaxed buyers back into the market.

"The REIQ median house price for Greater Brisbane, where Brisbane first home buyer activity is generally the strongest, is $425,000 compared to $641,000 in Sydney and $535,000 in Melbourne," Bennett said.

 


Follow us on Twitter for more news, tips and inspiration.
Like us on Facebook and Google+ explore our Pinterest boards.

Like this article or found it helpful? Share it!

Newsletter

Receive our articles directly to your inbox

Next article

Low rates paying off with investors By Adam Smith | 13/06/2012 4:30:00 AM | 0 comments

Go to articles list

Programs

Work with us
Giving back
Become an affiliate
Refer a friend
Help desk
Property Management
Finance

Locations

Head office
Australia
Hong Kong
Singapore

Contacts

Toll free in Australia
P. 1300 723 318
Outside of Australia
P. +61 2 9525 2033

Social Media

Newsletter

Terms of use | Privacy policy | Guarantees

This information is provided by DPN Pty Ltd ABN: 94 630 700 186 Australian Credit Licence 514759. DPN Finance Pty Ltd is an authorised credit representative 504129 and related entity of DPN. Credit for Dream Big 100% Offset and Work Smart 100% Offset is provided by Adelaide Bank a division of Bendigo and Adelaide Bank Ltd, ABN 11 068 049 178 and Australian Credit Licence 237879. Casa Capace Operations Pty Ltd, NDIS provider number 4050038018 trading as Casa Capace.