Market conditions in Brisbane give first home buyers advantage

Market conditions in Brisbane give first home buyers advantage
Market conditions in Brisbane give first home buyers advantage

Government grants and current low interest rates are helping first home buyers get into the Brisbane property market.

Alex Veal, Mint Residential Principal said more than 60 percent of the recent buyers at Vantage Lutwyche, have been new to the market.

"The increased First Home Owner Grant to $20,000 and stamp duty concession under $500,000 means they can purchase a new property with minimal savings and lock in an interest rate at circa four percent to give them certainty in payments at the front end of their mortgage," he said.

"When you add all those factors together, there really has not been a better time for purchasers to enter the market for some time - and they are increasingly recognising this."

Vantage Lutwyche fetures 55 one and two bedroom apartments across six residential levels, a 160sqm roof terrace and pavilion.

Buyers also get  a year's supply of coffee at local cafe Coddle and Co., an annual gym membership and quality blinds.

One bedroom apartments at Vantage Lutwyche start from $324,000 and two bedroom apartments from $439,000.

Loretta Reinke, and Hasitha Samaratunga, each purchased an apartment off-the-plan in Vantage Lutwyche

Ms Reinke said she was looking at apartments that were up to 10 years old, and they were no cheaper and offered a similar level of space.

"So I figured why not buy new, where I did not have to worry about how other people had treated the apartment," she said.

"The extra $20,000 I would receive for buying new was certainly very handy."

An on-site display is now open at the corner of Isedale Street and Lutwyche Road, Lutwyche between 4.30pm and 5.30pm on Wednesday, 10.30am to 12.30pm on Saturday or by appointment.  For further information call 1300 789 959 or visit vantagelutwyche.com.au

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First Home Buyers Brisbane

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