The national conversation about housing affordability is focused on skyrocketing prices in Melbourne and Sydney, but Brisbane property pundits say first-home buyers still have more than a fighting chance to get onto the property ladder in the Queensland capital.
And if you are still feeling shut out of Brisbane’s property market it might be time for a little drive. About 9km south of the Brisbane CBD is a ring of affordability.
It’s where cottages and Queenslanders, sitting on generous-sized blocks, sold for a median house price of $540,000 and units changed hands for $397,000 in 2016.
Salisbury, which is sandwiched between Tarragindi, Archerfield, Coopers Plains and Moorooka, offers home prices that are still achievable for many buyers, but for how long it stays that way is another question.
Mark Ward Property principal Mark Ward said the majority of properties which sold last year were snapped up by first home buyers but with the median price heading north, the window of opportunity is beginning to tighten.
“There are investors coming into the area but predominantly 80 per cent of the people who are buying in Salisbury are first home buyers”, Mr Ward told The Courier-Mail.
“It sure is one of the prime (south of the CBD) suburbs for first home buyers who are working in the city.
Mr Ward has been selling houses in the area for more than decade and he said the bargains are drying up and it won’t be long before Salisbury, which is home to some 6100 residents, is out of reach of those trying to break into the market.
Families were also drawn to the area because Salisbury bordered Nathan and Toohey forests and there are a handful of decent-sized parks and playgrounds scattered through the streets.
The suburb also is home to Brisbane Christian College, Salisbury State School and St Pius X Catholic Primary School, while neighbouring Nathan has a Griffith University campus.