Recent research has confirmed what all of us in the inner city have seen as a clear emerging trend: Brisbane’s home buyers are turning more and more to apartments and units with houses in the inner suburbs no longer affordable to most. According to a recent report from Matusik Property Insights the average Brisbanite could have afforded just 12 per cent of the detached houses that were sold during 2005.Commissioned by the Urban Development Institute of Australia, Michael Matusik’s research found just 1,916 of the houses sold were attainable for Brisbane households. Michael said the key to his study was finding what choice average buyers could afford across Queensland.
“In just five years we have seen affordability eroded, so in most towns the average household has a very limited choice in what they can buy. Previously, young people would have bought a block of land and built a house, but now younger people are more often buying a second-hand apartment,” he said.
Noosa is the state’s dearest house address on Michael’s measure and for the good news – if you’re happy to move to Rockhampton the study shows it’s Queensland’s most affordable city. The beef capital’s average household can afford to buy three-quarters of the city’s houses. Worth a moooooove?! Visit Michael’s site at www.matusik.com.au