Ipswich ranked the quickest FHB path to house ownership in Greater Brisbane: Domain
Staff reporterDecember 7, 2020
The quickest path for first time buyers to purchasing a house in Greater Brisbane is Ipswich, according to a report released this week by Domain.
The report noted first home buyer numbers have risen in Queensland, likely stimulated by the First Home Owners’ Grant, an incentive available for new homes valued under $750,000, providing a first home buyer $20,000.
Introduced in 2016, this measure was only meant to last for six months but was extended due to its popularity and as of 1 July, Queensland is set to reduce this grant to $15,000.
Indicative of Ipswich price potential, 3 Quarry Lane, Ipswich (pictured above) a 3 bedroom, 1 bathroom sold for $315,000 three months ago.
“In Greater Brisbane, the time needed to save for an entry level deposit on a house has increased by one month from last year, bringing the total time to 4.2 years, while the time to save for an entry level deposit for units fell by three months, to 3.3 years,” Domain noted.
