Revealed: Surprising top 10 postcodes for first home buyers

New mortgage data has revealed surprise hotspots where first home buyers are flocking across Brisbane, SEQ and further north, including some of the state’s most expensive suburbs.

A couple of inner Brisbane postcodes have emerged as surprise first homebuyer “sanctuaries” in latest mortgage data. Picture: NCA Newswire / Dan Peled

New mortgage data has revealed surprise hotspots where first home buyers are flocking across Brisbane, SEQ and further north, including some of the state’s most expensive suburbs.

Analysis of over 3,000 property transactions by independent mortgage brokers uncovered the top 10 postcodes where first home buyers were flocking this calendar year, with almost a fifth sinking funds into two postcodes in Toowoomba 4250 and 4352.

But it also found that inner Brisbane was getting a fair share of first homebuyer activity, including some of the most expensive suburbs in the country Teneriffe, New Farm (4005) and Bowen Hills, Fortitude Valley, Herston, Newstead (4006).

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Fortitude Valley and Bowen Hills postcode 4006 is one of the top 10 in Queensland that FHBs are buying into.

HashChing CEO Arun Maharaj, whose firm analysed the buying activity, said Queensland was clearly a sanctuary for first home buyers, with strong interest coming from interstate FHBs as well who were priced out of their own markets.

While median prices for houses in inner Brisbane were out of reach for almost all first home buyers on mortgages, units were a different story and providing a foot in the door for those who wanted that lifestyle without significant costs.

“Unit pricepoints are slightly more affordable, and for inner city suburbs like 4005 this means they take the lion’s share of first homebuyer transactions,” Mr Maharaj said.

He expected Queensland’s reputation as an FHB-friendly hotspot to continue for the near future, which would continue to draw interstate buyers.

Toowoomba postcodes 4350 and 4352 made up 24 per cent of FHB transactions in the figures analysed by HashChing.

“Comparatively, Queensland still offers a great opportunity, particularly for those in Sydney or Melbourne who have been priced out of those markets and will be working with their mortgage brokers to find property options elsewhere.”

But he said the Olympics in Brisbane and proposed infrastructure plans could see demand for properties increase significantly which would impact FHBs especially.

“Once median prices start to increase, this will change the landscape for first home buyers significantly.”

The data showed Toowoomba region was “far above the others” in terms of Queensland postcodes that first timers were flocking to with 4350 making up 20 per cent of all Queensland first homebuyer transactions analysed, while nearby postcode 4352 came in second with 4 per cent.

Toowoomba City Hall … the area is a stronghold for first home buyers now.

“The data shows that Toowoomba has got that mix of affordable housing, job opportunities and transport making it an attractive destination to settle down in. While other states have some regional centres (such as Port Lincoln in South Australia) that are appealing to first home buyers, none have captured such a big percentage of the FHB demographic as Toowoomba has in Queensland. There will almost certainly be profound economic benefits from this down the track – young families are big drivers of economic activity.”

Top 10 First Home Buyer postcodes in QLD:

4350 Toowoomba – 44 areas from Athol and Blue Mountain Heights to Wyalla Plaza.

4352 Toowoomba – 72 areas from Ballard and Bapaume to Yandilla.

4655 Fraser Coast – 26 areas from Booral to Toogoom.

4209 Coomera, Pimpama, Upper Coomera, Willow Vale.

4152 Camp Hill, Carina, Carina Heights, Carindale.

4216 Biggera Waters, Coombabah, Hollywell, Paradise Point, Runaway Bay, South Stradbroke.

4006 Bowen Hills, Fortitude Valley, Herston, Newstead.

4109 Macgregor, Robertson, Sunnybank, Sunnybank Hills, Sunnybank South.

4005 New Farm, Teneriffe.

4300 Augustine Heights, Bellbird Park, Brookwater, Camira, Carole Park, Gailes, Goodna, Spring Mountain, Springfield, Springfield Central, Springfield Lakes.

* Source: HashChing (based on analysis of over 3000 property transactions this calendar year by independent mortgage brokers).

Originally published as Revealed: Surprising top 10 postcodes for first home buyers