Researching the market
Start your research by getting some general ideas about how much you’re likely to pay for a new home.
A good first step is to look at property listings. You can find these:
- in real estate agency windows
- on the internet
- in newspapers’ property sections.
If you’re thinking about a certain suburb or neighbourhood, you should make sure you have a clear idea about property prices in this area.
Do this by:
- using SmartMaps to find out what properties have sold in the area, and for how much (you must pay a fee for this service)
- attending open inspections in the area
- talking to friends or family who have recently bought a home in the area
- talking to a licensed real estate agent.
These factors have a long-term impact on housing prices:
- General economic trends
- Changes in the balance between housing supply and demand.
Look at things like:
- Reserve Bank of Australia (RBA) statements about official interest rates (look for ‘monetary policy decisions’ on the first Tuesday of each month)
- media reports about trends in house prices, supply and demand
- property agents’ reports about these trends.
Grants and concessions
The Queensland first home owners' grant can help you afford your first home.
You might also be eligible for a transfer duty home concession.
Find out about other financial help and concessions.