New data from one of Australia’s Big Four banks has revealed the top five hot spots where first home buyers have bought in the past six months, with parts of Brisbane making a strong showing.
NAB Executive Home Ownership Andy Kerr said despite the rising cost-of-living, first home buyers continued to take advantage of easing house prices and government support schemes in Qld to get into the market.
Three of the top five locations for FHB’s in Qld were in regional cities – Toowoomba, Mackay and Bundaberg – but Greater Brisbane also had a strong showing with Beenleigh/Yarrabilba and Springfield Lakes/Goodna ranked second and third respectively.
Mr Kerr said demand for those areas was strong int he second half of 2022 and expected to remain steady heading into 2023.
“The popularity of these areas for first home buyers remained strong throughout the second half of 2022 and we expect to see steady demand early this year, as first home buyers look to areas representing the best value.”
“Value and location remain the two most important factors for first home buyers when looking to purchase their first property,” Mr Kerr said.
“Many of the areas are also attractive areas for investors and have high growth over the past five years as well as good rental yields.”
The NAB data found the Garden City of Toowoomba was the most popular location for first home buyers, with the area experiencing an infrastructure boom.
The suburbs of Darling Heights and Drayton were the most popular for FHB’s there, it found.
“Toowoomba has been going from strength-to-strength in past years, attracting families with it’s quick commute to Brisbane, schools, laid-back lifestyle and spacious land sizes,” Mr Kerr said.
“With billions of dollars of investment coming down the pipeline on the Inland Rail Link and a new Toowoomba Hospital, the Garden City is shaping up as an exciting place to buy and live.
QLD top FHB sales by postcode in the past 6 months
(Based on NAB data from June – November 2022)