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Make 2015 the time to get onto the property ladder

By James Brown

Queensland's property market is working in the favour of first-time buyers at the moment, so if you're ready to make your move, then now could be just the time to do it.

Bankwest recently released its First Time Buyer Deposit Report, which identified Queensland as the most affordable location along the eastern seaboard.

There has been a slight rise in the amount of time it would take to save a 20 per cent deposit on a property in the state over the past year, but it nevertheless remains lower than the national average.

At present, Bankwest estimates it would take 3.8 years to build an ample enough deposit, which is lower than the average of 4.1 years across the rest of the country.

Ian Rakhit, Bankwest's head of specialist banking, suggested buyers should act sooner rather than later if they're eyeing a purchase of real estate in Burpengary.

"With strong wage and population growth across the state, it's possible that Queensland's first-time home market will soon gain pace in line with New South Wales and Victoria," he commented.

"Queenslanders in a position to buy their first home now will benefit from relatively favourable conditions."

For assistance buying your first home in the region, make sure you speak to the team at Ray White Caboolture.

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