First-home buyers settle for less to buy into Queensland’s soaring housing property market

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Queensland first-home buyers are bucking the national trend by snapping up real estate at the fastest rate in 13 years, the Real Estate Institute of Queensland (REIQ) says.

With prices soaring “through the roof” at a 20-year high, savvy young buyers are settling for less just to get their foot in the door.

REIQ chief executive officer Antonia Mercorella said first-home buyers were buying around 3,000 homes every month in the Sunshine state.

Australian Bureau of Statistics (ABS) data said a year ago that figure was down to around 2,000 a month, but sales started to outpace other states early on in the new year. 

“Certainly what we are seeing the market doing nationally is pretty extraordinary…

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