How to buy a house with a mortgage in Queensland
Posted September 19, 2019 07:14:00 The property market in Queensland has been on a bit of a hot streak in recent weeks with buyers buying up property in the state.
The National Property Report has found that house prices in the Queensland state have shot up by about 40 per cent since April, while the average cost of a house in the metropolitan area has jumped by 40 per the last month.
However, there are a few areas where the real estate market may be holding up and those are areas in which buyers have been able to access low interest rates.
For example, a house purchase in the town of Lidcombe, on the Sunshine Coast, is available for less than $1.2 million and can be bought for a minimum of $100,000.
If you can find an apartment in the area, that price is lower.
However you go about getting the property, there is no better way to find out if you can afford to pay the deposit than through the National Property Survey.
The report found that almost half of Queenslanders are unable to afford to buy property.
The average income of the people in the State is $52,200 a year, with the median income being $50,000 a year.
In other words, people in Queensland are living in poverty.
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