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Following the federal election results, the Brisbane market has seen a surge in first home buyers’ optimism, set to drive demand and prices up, reshaping the market for $1 million inner-city apartments.
As a result of the Labor government’s election victory, Brisbane real estate agent and sales director of K&S Property Group, KC Yeung, observed a surge of interest in first property buyers in the inner city market.
“Homes and apartments under the $1 million mark – particularly in inner-city pockets – could see sharp interest and price increases,” Yeung said.
According to Yeung, the federal government’s Help to Buy scheme, set to launch in late 2025, has boosted first property buyers’ interest and will likely increase the market activity in the next 12 months.
“The election outcome has effectively lit a fire under the first home buyer segment.”
Right before the federal election, as part of the March 2025–26 federal budget, the Labor government amended its Help to Buy scheme, increasing the maximum income and property price caps to align with the current market.
The program enables 40,000 eligible first-time home buyers nationwide, earning under $100,000 individually or $160,000 jointly or as single parents, to share property equity with the government.
Under the scheme, buyers share up to 40 per cent equity for new homes and 30 per cent for existing homes, by contributing a minimum 2 per cent deposit.
Price caps around eligible properties have also been raised in each state and territory to provide first property buyers with more choices.
“This scheme is a game-changer. It will allow first-time buyers to seriously consider purchasing their first home in inner Brisbane suburbs that were previously out of reach,” Yeung said.
According to the agent, the Brisbane inner-city market, close to the CBD, had been traditionally out of reach for first-time buyers but is now gaining momentum as owners seek to sell as demand heightens.
“These properties are ideally suited to young couples and families starting their home ownership journey,” he said.
According to the latest market update by Cotality, Brisbane’s median house value was up by 0.4 per cent in April to $989,818.
Similarly, the Brisbane unit market rose by 0.5 per cent to $698,479 over the same period.
Yeung said while Brisbane's inner circle had always been coveted for its lifestyle appeal and proximity to the city centre, schooling opportunities have driven young families to move into the area.
“Brisbane’s inner suburbs are home to some of the city’s best-performing schools, which is a huge attraction for families,” he said.
“One school that’s frequently mentioned by my clients is Brisbane State High School – it’s seen as a key factor when choosing where to buy.”
As market momentum grows and community values remain a priority, Yeung said the next 12 months will be crucial for first home buyers and the future of Brisbane’s inner suburbs.
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