As Brisbane’s property market continues its upward trajectory, with predictions of 9-14% growth in 2025, first-time buyers might feel the pressure. However, there are still hidden gems where you can find affordable homes under $650,000. This guide will help you navigate these budget-friendly suburbs and explore options for those entering the property market.
Market Overview 2025
Brisbane’s housing market is expected to outperform most other capital cities, driven by strong population growth and interstate migration. With potential price increases of $77,000 to $120,000 for median dwellings, entering the market sooner rather than later could be beneficial for those who can manage it.
Affordable Houses Under $650K While finding houses under $650K close to Brisbane CBD is challenging, opportunities exist in these suburbs:
Eagleby (35km southeast of CBD)
- Median house price: $502,000
- Located between Brisbane and Gold Coast
- Strong 10-year average annual growth of 9.40%
Goodna (26km southwest of CBD)
- Median house price: $460,000
- Convenient location along Ipswich Motorway
- Solid 10-year average annual growth of 8.00%
Affordable Townhouses and Units Across Brisbane
For first-time buyers looking to maximize their budget and lifestyle, townhouses and units offer excellent value in desirable locations:
Bowen Hills (3km from CBD)
- Median unit price: $420,000
- Close to RNA Showgrounds and major hospitals
- 10-year average annual growth of 1.80%
Chermside (10km from CBD)
- Major shopping centre and hospital nearby
Nundah (8km from CBD)
- Trendy cafes and easy airport access
Expanding Your Search: Up-and-Coming Areas For those willing to look further out, these areas offer potential for future growth:
Woodridge 23km from CBD (Various suburbs, 20-40km from CBD)
- Median house prices ranging from $642,500
- Transport accessibility
- Community atmosphere
Deception Bay – 32Km from CBD (Various suburbs, 30-40km from CBD)
- Median house price $641,000
- Coastal suburb with seaside lifestyle and affordable prices
First Home Buyer Support
The Queensland Government offers several support schemes for first home buyers:
First Homeowners’ Grant
- $30,000 for contracts signed between 20 November 2023 and 30 June 2025
First Home Concession
- Full exemption from transfer duty for properties valued up to $700,000
- Potential savings of up to $24,525
- Partial concession available for properties between $700,001 and $799,999
- https://qro.qld.gov.au/duties/transfer-duty/concessions/homes/first-home/
Australian Federal Government First Home Guarantee Scheme
- Purchase a home with as little as 5% deposit
- Government guarantees up to 15% of the property value
- https://www.housingaustralia.gov.au/support-buy-home/first-home-guarantee
These schemes can significantly reduce the upfront costs of buying your first home, making it easier to enter the market.
Tips for First Home Buyers
- Research thoroughly and stay informed about market trends.
- Consider up-and-coming suburbs that may offer better value for money.
- Look for properties with renovation potential to add value over time.
- Don’t overlook units and townhouses, especially if you want to live closer to the city.
- Work with a mortgage broker who understands first-home buyer schemes.
- Be prepared to compromise on location or property type to stay within budget.
- Factor in additional costs such as legal fees and moving expenses.
Market Factors to Consider
- Potential interest rate cuts in early 2025 could further stimulate the market.
- Strong population growth (estimated at 2.5% in 2024) is putting pressure on housing supply.
- The 2032 Olympics are driving infrastructure investment, potentially boosting property values.
By exploring these hidden gem suburbs and considering various property types, first-home buyers can still find affordable options in Brisbane’s competitive market. Remember to factor in your lifestyle needs, commute times, and future growth potential when making your decision. Your First Home Journey Starts Here
Your Brisbane Home Loans specialist is ready to help you:
- Calculate your accurate borrowing capacity
- Understand first home buyer assistance and apply for First Home Guarantee and First Homeowners Grant during the application process.
- Navigate loan options tailored for you
We’re With You Every Step. Your dedicated Brisbane Home Loans Mortgage broker will guide you from application to settlement, making your first home dream a reality. With careful planning and the right guidance, your dream of homeownership in Brisbane can become a reality in 2025. Don’t let the process overwhelm you—reach out to Brisbane Home Loans today to start your journey towards owning your first home.
