Borrowing capacity crash: Where to buy in Qld for under $465k

News Corp Australia Network

A TYPICAL first homebuyer has seen as much as $160,000 wiped from their budget, with the chances of buying a house for under $465,000 in southeast Queensland as rare as hens teeth.

Just 10 months ago a first homebuyer with a gross income of $83,000 and a deposit of 20 per cent could borrow $500,000 and have a maximum purchase price of $625,000.

Now, they could borrow $372,000 and spend $465,000, according Canstar.

And while it is slim pickings in Brisbane – think flood-affected houses in Rocklea or a townhouse in Richlands – the prospects open up for those willing to buy a unit or townhouse or make the move to the regions.

Here are 10 properties that are within budget for first home buyers across Queensland now.

1. FOR SALE: 64 Wau Road, Darra is listed for $435,000+

2. UNDER OFFER: 67 Bale Street, Rocklea was listed for $399,000+

3. FOR SALE: 58 Vista Street, Russell Island is listed for $465,000

4. FOR SALE: 43 Amazon Close, Mount Sheridan, has a price range of $380,000-$430,000

5. FOR SALE: 32 Cooper Street, Currajong, is listed for $448,000+

6. FOR SALE: 26 Ferntree Street, Kirwan, is listed for $425,000+

7. FOR SALE: 23 The Grange, Shaw, is listed for $465,000

8. FOR SALE: 8 Pacific Ave, Ilbilbie is listed for $450,000

9. FOR SALE: 18 Helmsman Drive, Bucasia, is listedfor $429,000+

10. FOR SALE: 40 Roderick Street, Bentley Park, is listed for $429,000

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