Vikram Singh moved to Brisbane earlier last year for work and has spent months searching for a home within his family's budget."Even getting a good rental place was very, very difficult.He's now spending his weekends checking out open homes and apartments across Brisbane.He's hopeful rising housing prices will stabilise this year, making his search slightly easier.It's the second highest average house price after Sydney.
"In south-east Queensland though conditions are still fairly strong, but they're not as strong as they were in the year to June 2024," Ms Conisbee said."South-east Queensland is quite unique in that it is still attracting a lot of people.Antonia Mercorella is the CEO of the Real Estate Institute of Queensland, the peak body representing that industry in the state.
"Now, unemployment is still quite low, and of course, the other critical factor is that established housing is so precious, and we're still seeing some constraints in terms of that new housing supply." "But fundamentally, for Queensland, there is under supply of housing that's going to lead to prices remaining elevated.""We have seen a slowdown in the rate of increase, so that's a positive," Ms Conisbee said.'Out of the box' solutions needed
The state government is now allowing first home buyers to rent out a room of their home without losing stamp duty concessions.The scheme, which allows those first home buyers stamp duty concessions while renting out a room, was implemented by the former Labor state government just before the election and made permanent late last year by the LNP.
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