Despite COVID-19 restrictions and uncertain economic futures, first home buyers in Queensland have been out and about.
The National Housing Finance and Investment Corporation’s (NHFIC) inaugural research report has revealed the hottest areas for buyers who secured a highly sought First Home Loan Deposit Scheme (FHLDS) spot. The scheme allows those looking to get a foot on the property ladder to purchase a home with a 5% deposit, with the government acting as a guarantor for the remaining 15%. This is great for first home buyers, as it allows them to avoid the costly lenders mortgage insurance that usually applies if a buyer has a deposit of less than 20%.
Almost 1,850 FHLDS guarantees were issued in Queensland across the first six months of this year.
70 were provided for properties in the postcode 4350, making it the most popular area for the period. It includes, among others, the suburbs of Toowoomba, Centenary Heights, Newtown.
56 guarantees were issued for homes in the postcode 4305, which encompasses the suburbs of Ipswich, Eastern Heights, Leichhardt.
Further north, 45 properties in the postcode 4740 (Mackay, Mount Pleasant, Andergrove) were settled with the backing of the FHLDS.
The top 10 areas were rounded off with postcodes 4510 (Caboolture, Donnybrook, Bribie Island); 4209 (Coomera, Sanctuary Cove, Pimpama); 4814 (Townsville, Heatley, Vincent); 4701 (Rockhampton, Glenmore Park, Sandringham); 4818 (Burdell, Thuringowa Central, Cosgrove); 4503 (Dakabin, Murrumba Downs, Griffin), and 4300 (Springfield, Goodna, Camira).
All-in-all, these number confirm a growing trend in millennial buyers (many of whom are buying their first homes): outside of cities is the place to be. Ever-growing numbers of buyers are making the move to more remote or regional areas, driven by rising house prices, the want for larger homes, and the more healthy lifestyle. Many