First-home buyers locked out of 169 affordable Queensland suburbs

Key points

• First-home buyers have been locked out of 169 previously affordable Queensland property markets since the federal 5 per cent deposit scheme was expanded a year ago. An analysis of Realestate.com.au data found that 852 of 890 house and unit markets have risen in value.
• Deagon houses jumped 31.2 per cent to $1.187 million. Since October, new Queensland mortgage lodgements have fallen 30 per cent, with first-home buyer applications down 18 per cent, according to Loan Market.
• Buyer's agent Lauren Jones said rising interest rates and living costs have cut borrowing power, leaving young buyers largely absent from the market.