A new report has named Queensland as the most affordable first homebuyer property market on the eastern seaboard. First-time buyer couples there only need to save for 3.8 years to complete a 20% deposit. The sixth annual Bankwest First Time Buyer Deposit report said the national average is 4.1 years.
“Compared to the other eastern states, Queensland offers the most-manageable first-time buyers’ market,” said Ian Rakhit, Bankwest head of specialist banking. “But with strong wage and population growth across the state, it’s possible that Queensland’s first-time home market will soon gain pace, in line with New South Wales and Victoria. Queenslanders in a position to buy their first home now will benefit from relatively favourable conditions.”
It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan