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This house at Riverhills, in Brisbane’s western suburbs, is listed for sale at $458,000. While Sydney continues to battle a housing affordability crisis, Queensland first-home buyers have 92 suburbs in Greater Brisbane alone with a median below the average purchasing power ($392,000) to choose from. In the Brisbane LGA, 17 suburbs still have medians of $500,000 or less, the latest Domain Group data shows, whereas Sydney now has no suburbs with a median of $500,000 or less. Acacia Ridge, Boondall, Tingalpa, Deagon and Riverhills all have a median house price of $500,000 or less. With the $20,000 grant scheduled to drop back to $15,000 at the end of the year, developers are now making a renewed push to get first-time buyers to take advantage of the extra cash before it expires. One of Australia’s biggest residential land developers, Peet Limited, is leading the push, recently releasing 40 new house and land packages under $400,000, with some packages starting as low as $295,000 with the First Home Owners’ Grant. The packages are available in communities near Ipswich, Caboolture and Logan – some of south-east Queensland’s biggest growth corridors – and include front landscaping and fencing. Peet Limited CEO and managing director Brendan Gore said the company wanted to show homebuyers that there was still a big choice in quality, affordable homes available. “People are hearing a lot about escalating property prices and are really worried about being priced out of the market. “We want to reassure them that it isn’t too late.
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