REA Group economist Angus Moore says first-home buyers are active despite market challenges
First-home buyer numbers were up over the past year despite challenging market conditions, with more than six years required for an average-income household to save a 20 per cent deposit for a typical Queensland home.
Rate cuts and lower mortgage rates would put more homes within reach of first-home buyers in the year ahead, according to PropTrack CommBank First-Home Buyer Report released today.
The report analysed opportunities for prospective owners to get into the market sooner, identifying Brisbane's top ten hotspots for first-home buyers.
REA Group senior economist Angus Moore said more first-home buyers were active in the past year than was typical a decade earlier, indicating a determined cohort finding pathways to home ownership.
"Saving for a deposit is the key hurdle for first-home buyers, creating a substantial savings burden," Mr Moore said.
"On top of this, record low housing affordability and tough mortgage serviceability have been significant challenges."
For an average-income household in Queensland, saving a 20 per cent deposit for a median-priced home required 6.1 years of dedicated saving, slightly above the national average of 5.9 years.
A first-home buyer household aged 25-39, currently renting and earning a typical income of $117,000, could afford just 12 per cent of homes sold in the past year.
Mr Moore said workarounds for first-home buyers included a shift in government policy making support more accessible, low deposit loans, and Lenders Mortgage Insurance.
"The good news for first-home buyers is that conditions are improving.
"Interest rates have already fallen from their peak, and further cuts are expected.
"While home prices are rising, lower mortgage rates will likely help put more homes within reach of first-home buyers," he said.
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The report identified first-home buyer hotspots, based on realestate.com.au search data from 2024 to May 2025.
The North Lakes region in Moreton Bay, Springwood - Kingston in Logan, and Forest Lake - Oxley in Ipswich were the most popular overall areas for first-home buyers in Queensland.
Also making the top ten were Browns Plains, Strathpine, Springfield - Redbank, Beenleigh, Rocklea - Acacia Ridge, Ipswich Inner, and Sunnybank.
The report found young buyers were approaching home ownership with a flexible mindset, with many opting for more affordable areas or property types such as units or townhouses.
About six per cent of first-home buyers chose to rentvest, or lease out an investment property instead of living in it, as a strategy to enter the market sooner.