Australia's best city for first home buyers revealed – with homes for just $ 500,000

Australia's best city for first home buyers revealed – with homes offered for just $ 500,000 – half the price of the average Sydney property

  • Report found Brisbane has the most suburbs with homes for sale below $ 500,000
  • The report says that this is extremely encouraging news for buyers of first homes
  • Other capitals did not do so well in terms of affordability and quality of life
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Brisbane has been named the prime location for first-home buyers with nearly half of the city's suburbs with entry-level properties for less than $ 500,000.

A total of 42.4 percent of the suburbs in the capital of Queensland had homes for sale under the half a million mark, according to the Brisbane Affordable and Livable Property Guide from PRDnationwide.

& # 39; The housing market in Brisbane currently ranks first for buyers of first homes & # 39 ;, says the report.

This home on 100 Griffith Street, Everton Park is for sale for offers of more than $ 499,000

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This home on 100 Griffith Street, Everton Park is for sale for offers of more than $ 499,000

This townhouse at 50/34 O Doherty Circuit, Nudgee is on sale for offers of more than $ 475,000

This townhouse at 50/34 O Doherty Circuit, Nudgee is on sale for offers of more than $ 475,000

This townhouse at 50/34 O Doherty Circuit, Nudgee is on sale for offers of more than $ 475,000

& # 39; This is extremely encouraging news for the first home buyers in Brisbane, as it is a blow in the market from a market of $ 500,000 to $ 800,000 to a market of less than $ 500,000. & # 39;

Sydney and Melbourne did not do so well.

In Sydney, 0.5 percent of the suburbs had a home below 500,000, while in Melbourne it was 4 percent.

According to the report, all affordable and livable suburbs in Sydney had negative median price growth on an annual basis – a sign of market cooling – although average prices were still well above Brisbane.

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Hobart prices were also low, but the report indicated that much cheaper suburbs did not meet the liveability criteria – which looked at crime rates, facilities, and unemployment rates.

PRDnationwide national research manager Dr. Asti Mardiasmo said that for the first home buyers, Brisbane was the best place in the country.

& # 39; The number of suburbs below $ 500,000 has risen to 42 percent, which is gold for buyers of first homes because it means they have more choice and can broaden their horizons & # 39 ;, she said. realestate.com.au.

This house and land package at 34 Mews Lane, Doolandella has a price tag of $ 365,880

This house and land package at 34 Mews Lane, Doolandella has a price tag of $ 365,880

This house and land package at 34 Mews Lane, Doolandella has a price tag of $ 365,880

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& # 39; This is a good thing because, for example, you do not want first home buyers, young professionals, and young families all to be concentrated in one bag. & # 39;

They said in their last report for the second half of 2018 that only that figure was 12.4 percent.

Dr. Mardiasmo said that while the affordable suburbs were located throughout the city and were not concentrated in one bag, the cheapest suburbs were Everton Park, Nudgee and Doolandella.

She also said that Brisbane has traditionally been a more stable market than southern states, and inner city centers were probably safer in terms of value.

This house on 50 Wallaroo Way, Doolandella is for sale for offers of more than $ 430,000

This house on 50 Wallaroo Way, Doolandella is for sale for offers of more than $ 430,000

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This house on 50 Wallaroo Way, Doolandella is for sale for offers of more than $ 430,000

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