Moorooka pinpointed as Brisbane awaits first home buyers: HTW

Moorooka pinpointed as Brisbane awaits first home buyers: HTW
Jonathan ChancellorDecember 7, 2020

Brisbane still seems relatively affordable amongst the capital city rivals, according to valuers, Herron Todd White.

"Everyone out there is waiting for it to really start kicking in – particularly beyond five kilometres from the CBD," their latest report suggested.

"It feels like our turn after the gun market runs of Sydney and Melbourne," it added.

The outcome falls firmly upon the shoulders of the first home buyers looking for options in south east Queensland.

"They’ve been less present of late compared to the end of last year," the May report noted. 

The first home buyers are likely to secure a typical single level home priced under $500,000 since HTW has detected suburbia is increasingly hip.

Their advice is in the southern suburbs of Brisbane to look towards the eight to 15 kilometre band.

"For example, Moorooka is getting a name for itself amongst the young and typical 1950s three bedroom, one bathroom dwellings of average condition below $600,000 will find suitors."

Moorooka's median unit price sits at $377,750 and $507,500 for houses, according to RP Data.

New apartment offerings include Canopy 11 (pictured below) due for completion mid 2014 with prices starting at $340,000 with first home buyer able to get the $15,000 grant.

The cheapest unit offering (in the building picture below) is seeking $225,000 plus for a one bedroom.

The cheapest house is $375,000 for a three bedroom fibro and tiled roof cottage on 685 square metres at 374 Beaudesert Road (pictured below).

Mid-ring investors are active in the same pockets as first home buyers, particularly Mount Gravatt where there is quite a bit of proposed development with an increase in infrastructure in coming years.

Entry-level investors are looking closer in, according to HTW.

Investors are active with detached houses up to $600,000 and in inner city units too – particularly interstate and international buyers. 

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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