- First home buyers have continued a shift back to the outer suburbs
- Between May and August, NAB lending to first home buyers surged +77%
- There continues to be an increasing shift for first home buyers to opt for metro
First home buyers have continued a shift back to the outer suburbs in the four months to August, according to new data from NAB.
Between May and August, NAB lending to first home buyers surged 77% compared to the corresponding period last year, with May the peak month. It also rose +20% against the first four months of 2021.
While tree and sea change gained popularity in 2020, there seems to be an increasing shift for first home buyers to opt for metropolitan areas in 2021.
First home buyer activity in metro areas over this period increased +24% while regional areas are up 16% for the same period.
“What we’ve seen over the last 18 months during the pandemic is a big shift in the way many Australians are working,” said NAB home ownership executive Andy Kerr.
“This has fundamentally changed home buyer options with locations based on hybrid working, opening suburbs that haven’t been available in the past with the daily commute.”
As for Queensland, Mr Kerr said that first home buyers have “capitalised” on the apartment boom in Hamilton, on the fringe of the Brisbane river.
“Acacia Ride in Brisbane’s south grew in popularity supported by access to shopping, restaurants, and TAFE Queensland,” he said.
“Bray Park also presents an opportunity to buy an affordable home in an established area just 20kms to Brisbane’s CBD. Southport – just north of Surfers Paradise – has proved a popular hotspot for first home buyers seeking a lifestyle on the Gold Coast.”
Top 10 first home buyer suburbs – QLD
|Postcode||Location||First home buyers||Type|
|4110||Acacia Ridge||+ 115%||Metro|
|4078||Forest Lake||+ 37%||Metro|
|4300||Springfield Lakes||+ 51%||Metro|
|4500||Bray Park||+ 60%||Metro|
|4740||East Mackay||+ 55%||Regional|
Source: NAB, 2021