Expert says first-home buyer demand below $1m is pushing price pressure into the $1.4m bracket
Brisbane’s established house market may be approaching a fresh repricing phase, according to a Brisbane buyers’ agent, with pressure from the heavily contested sub-$1 million segment beginning to shift into the $1.4 million bracket.
“We are at a genuine inflection point in Brisbane,” said Leanne Spring, founder of Tailored Buyers Agents. “The $1.4 million price band has not yet moved the way the sub-million market has, but the forces pushing it there are already in motion.
“Buyers who recognise this shift early and act quickly will look back on this period very favourably.”
Spring (pictured right) said government-backed first-homebuyer support has intensified competition under $1 million in Queensland, with flow-on effects for borrowers and lenders assessing borrowing capacity and household budgets at higher price points.
“The Federal Government’s 5% Deposit Scheme’s $1 million price cap for Queensland has turbocharged first homebuyer demand, which has compressed the sub-million segment dramatically,” she said. “Buying a decent-sized established home in Brisbane’s inner suburban ring for under a million dollars is nigh on impossible.
“The ripple from the bottom end is now pressing into the $1.4 million band, but this market is yet to reprice fully.”
Spring identified 11 suburbs in Brisbane’s established five-to-ten-kilometre ring that she said are positioned to benefit most from any recalibration in the $1.4 million segment.
They include Geebung; Stafford and Everton Park; McDowall and Chermside West; Keperra; Mount Gravatt East; Wishart; Wynnum and Manly; and Tingalpa.
She also said borrowers purchasing at this level should consider dwelling type and long-term suitability alongside suburb selection.
“A $1.4 million home is a significant financial asset that will play a role in long-term household wealth. That means selecting the right type of home will be crucial to getting the most from your purchase,” Spring said.
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
