Brisbane first home buyers jostling to develop new homes: HTW

First home buyers across Brisbane are competing with investors and owner occupiers to develop new homes, with suburbs such as Springfield Lakes, Leichardt and Mango Hill seeing strong demand from all three types of investor.

According to Herron Todd White's August month in review, building grant incentives for first home buyers are driving them into the home building market in other suburbs such as Murrumba Downs, Brassall, North Lakes and Dakabin.

The report noted the differences between building in 2009 and now.

"Nowadays you’re looking at between $900 and $1,100sqm and on smaller lots, tinier homes are being built and that sees the rate per metre rise. These courtyard style dwellings can cost as much as $1,200 to $1,300," the report stated.

"For this money, expect laminate cabinetry, Caesarstone bench tops in the kitchen, one light bulb to each room, limited power points and split system air conditioning to the living room only. Outside there’ll be a driveway and fencing, but possibly no landscaping. 

"Step up a little further and you’ve got stone bench tops, air conditioning throughout, high ceilings and quality finishes. These homes were costing $1,100 to $1,300 per square metre in 2009 and that price is still about the same in 2015. Another $200 per square metre would get you ducted air-conditioning instead of a split system and a higher standard of appliances and finishes. 

"A nice contemporary home with a bit of flair is going to come in at around $2,200 to $3,300 per square metre in 2009, and once again, not much has changed since then."