First home buyers: Where to start your hunt in Qld in 2024

Experts have revealed where buyers should focus their search across Qld this year. Today, we start with first home buyers, who have arguably never found it tougher to get on the ladder.

PROPERTY experts have revealed where buyers should focus their home hunt across Queensland this year, and they range from the usual blue-chip locales to some suburbs where affordability is now king.

The experts have varying backgrounds in real estate, data analytics and economics, and were asked to consider the budgets of first home buyers, investors, upsizers, downsizers and prestige buyers, but were not given a price range due to the rapid rise in home values since the start of the pandemic in early 2020.

Today we start with first home buyers, with the experts sharing the places to consider in Brisbane and the regions.

And it has arguably never been tougher for first home buyers to get into the market, with the cohort up against higher interest rates, lower borrowing capacities and sky-high median prices, at the same time as they are up against high inflation, soaring rents and stagnant wage growth.

But there are still places where you may just get your foot on that increasingly steep ladder.

***TOMORROW WE LOOK AT THE PLACES TO LOOK FOR UPSIZERS!

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THE EXPERTS

Ray White QLD CEO Jason Andrew (JA)

Place Estate Agents CEO Damian Hackett (DH)

LJ Hooker Group GM (Network), Stephen Mutton (SM)

McGrath National General Manager of Sales Troy Malcolm (TM)

PropTrack economist Paul Ryan (PR)

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FIRST HOME BUYERS

Brisbane

Darra

Darra has improved immensely with amenities over the years. It is a quiet suburb with easy access to highways. Houses in Darra have lifted 5.17% to a median of $686,852 since January. (JA)

Sandgate – Shorncliffe

Neoval data shows units in Sandgate / Shorncliffe rose 5.34% since January to a median of $690,726. If you’re looking for a coastal lifestyle, then Sandgate and Shorncliffe should be at the top of your list. Sandgate is highly walkable with plenty of open space for residents to enjoy. (JA)

Banyo

Banyo offers affordability and a family-friendly atmosphere, fostering a close-knit community near essential amenities. (DH)

Damian Hackett

Rochedale

Rochdale offers a tranquil suburban lifestyle with quality parks and schools. (DH)

Manly West

Manly West presents a coastal ambience and a relaxed lifestyle for those taking their first steps into homeownership. (DH)

Karana Downs

Karana Downs combines a leafy environment with proximity to excellent amenities, providing a welcoming setting for first home buyers. (DH)

Chermside

With Westfield as its economic driver and social hub, Chermside is a bustling outer suburb that provides convenient access to the CBD and the Sunshine Coast. Apartment living around the offers a convenient entry point to property ownership with the median unit price of $477,500. (SM)

Eagleby

Eagleby has recently witnessed steady growth, boasting a median house price of $500,000. Its appeal lies not only in affordability but also in its easy accessibility via the M1 highway. (SM)

Capalaba

The median unit price is $480,000 and the area is destined for rejuvenation, increasing liveability and appeal. (SM)

Bundamba

Bundamba is among the most affordable suburbs in Ipswich and, despite significant growth in the past year, it remains budget-friendly. It also offers the convenience of a train station on the line to Brisbane making it a popular choice for those on a tight budget. (SM)

Fortitude Valley

Fortitude Valley continues to attract buyers for its vibrant lifestyle, cafe society, proximity to the CBD and its affordable one-bedders. (TM)

Springfield

Located in the Ipswich region, Springfield has one of Qld’s highest inquiry rates but below average price growth. With a median of $759,000 on the back of 8.9% growth in the past 12 months, it has an average of 46 key inquiries per listing. (PR)

Camira

Located in the Ipswich region, Camira has one of Qld’s highest inquiry rates but below average price growth. With a median of $708,000 on the back of 8.4% growth in the past 12 months, it has an average of 46 key inquiries per listing. (PR)

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Regional Qld

Nerang

Nerang strikes a balance between city conveniences and a relaxed lifestyle, making it favourable for first home buyers. (DH)

Sippy Downs

Sippy Downs has great educational facilities and green spaces, creating an ideal environment for families and individuals entering the property market. (DH)

Woombye

Located in the Sunshine Coast region, Woombye has one of Qld’s highest inquiry rates but below average price growth. With a median of $835,000 on the back of -1.6% growth in the past 12 months, it has an average of 34 key inquiries per listing. (PR)

Whitfield

Whitfield (Cairns) blends suburbia with tropical beauty, offering a unique living experience in a welcoming community. (DH)

Fairfield Waters

Fairfield Waters (Townsville) provides modern amenities and a growing community, making it a promising location for first home buyers to invest in their initial property. (DH)

Centenary Heights

Centenary Heights (Toowoomba) offers a peaceful setting with access to quality schools, creating an ideal foundation for first home buyers. (DH)

Hervey Bay

Hervey Bay combines coastal charm with a growing community, making it an appealing choice for those seeking a blend of lifestyle and opportunity. (DH)

Nerang

Just on the western side of the M1, Nerang has all the amenities you need in your backyard – supermarkets, speciality shops, pubs, parklands and schools and a median unit apartment price of under $500,000. (SM)

Nambour

With a hospital, train station, Sunshine Coast Council Administration Centre and village shopping, Nambour is one of the region’s original commercial hubs with numerous employment opportunities. Nambour is affordable with a median house price around $655,000. (SM)

Manunda

On the edge of the Cairns CBD with a combination of apartment living and larger 600sqm plus blocks. Rain Trees Shopping Centre offers convenience and the Cairns TAFE campus is also housed in the suburb. (SM)

Idalia

There’s been a lot of growth in apartments in Idalia (Townsville) over the last 12 months but the suburb – which is still only a 10 minute drive to the CBD – still holds a median of $268,000. (SM)

Glenvale

In Toowoomba’s western growth corridor, 50% of the population is aged under 40 in Glenvale. The median house price is just over $500,000 and there’s been double digit growth in the suburb on the back of its affordability. (SM)

Bundaberg

House and land packages in the region are quite affordable in the region, with many new estates opening up between the town and the beachside communities. (SM)

Coomera

Coomera is experiencing explosive infrastructure growth including train stations, shopping centres and hospitals. A large selection of new schools. New roading reduces commutes to Gold Coast suburbs and Brisbane. (TM)

Rockhampton City

Units in Rockhampton have risen 2.6% since January to a median of $318,143. Rockhampton is a great place with plenty to do. Features such as the Botanic Gardens and the Art Gallery are world class – certainly one of the best of any regional centre in Australia. (JA)

Mackay

Units in Mackay have risen 5.58% since January to a median of $531,853, according to Neoval. The people are friendly, the scenery is breathtaking and it offers a great lifestyle. There is always something on and something to do in Mackay. (JA)

Baringa, Narimba and Banya

All offer modern affordable living (at Stockland’s Aura) with a multitude of outstanding parks, shopping and education centres all 10 minutes from the beaches of Caloundra. (TM)