According to research by credit scoring and information service Credit Simple, Queensland is the most popular state for mortgage applications by people under 30.
Breaking down each state and territory across January to June 2017, Queensland had 17 per cent of its mortgage applicants under 30 years old, higher than the national average at 15 per cent.
This was followed by Western Australia at 16 per cent, South Australia at 15 per cent, Victoria at 14 per cent, NSW and Tasmania at 13 per cent, the Australian Capital Territory at 12 per cent and the Northern Territory at 11 per cent.
“Strategies for young Aussies [to] get into the property market are hotly debated, with commentators regularly providing tips from reducing your avo on toast intake to advising people to get higher paid jobs,” said Credit Simple spokesperson Emily Price.
“We’re not sure about the going rate for avocados in Queensland, but it’s clear that it’s one of the best places for young Aussies to get on the property ladder. With average asking prices of $476,406 for a house in Brisbane, it’s a lot more affordable than other major cities such as Sydney ($799,000).”
The research also revealed the top five postcodes and suburbs for mortgage applications by under 30s across the country and in each state and territory:
Nationally
- 3029, Victoria – Truganina, Hoppers Crossing
- 3064, Victoria – Craigieburn, Roxburgh Park
- 4350, Queensland – Kearney’s Spring, Glenvale
- 2170, New South Wales – Liverpool, Moorebank
- 3977, Victoria – Cranbourne, Botanic Ridge
Queensland
- 4350 – Kearney’s Spring, Glenvale
- 4300 – Springfield, Goodna
- 4305 – Brassall, Yamanto
- 4870 – Redlynch, Earlville
- 4209 – Upper Coomera, Pimpama
Western Australia
- 6112 – Armadale, Harrisdale
- 6164 – Aubin Grove, Cockburn Central
- 6171 – Baldivis
- 6061 – Mirrabooka, Balga
- 6065 – City of Wanneroo, Landsdale
South Australia
- 5085 – Clearview, Enfield
- 5162 – Morphett Vale, Woodcroft
- 5114 – Craigmore, Blakeview
- 5108 – Salisbury, Paralowie
- 5159 – Aberfoyle Park, Chandlers Hill
Victoria
- 3029 – Truganina, Hoppers Crossing
- 3064 – Craigieburn, Donnybrook
- 3977 – Cranbourne, Botanic Ridge
- 3030 – Werribee, Quandong
- 3023 – Ravenhall, Caroline Springs
New South Wales
- 2170 – Liverpool, Moorebank
- 2176 – Bossley Park, Prairiewood
- 2145 – Wentworthville, Westmead
- 2148 – Blacktown, Arndell Park
- 2570 – Camden, Glenmore
Tasmania
- 7250 – Launceston, Trevallyn
- 7249 – Kings Meadows, Punchbowl
- 7005 – Sandy Bay, Dynnyrne
- 7310 – Devonport, Spreyton
- 7010 – Dowsing Point, Rosetta
Australian Capital Territory
- 2913 – Franklin, Nicholls
- 2617 – Belconnen, Bruce
- 2905 – Calwell, Tuggeranong
- 2914 – Amaroo, Harrison
- 2615 – Higgins, Charnwood
Northern Territory
- 0810 – Alawa, Brinkin
- 0870 – Alice Springs
- 0832 – Rosebery, Mitchell
- 0820 – Bagot, Bayview
- 0830 – Durack, Shoal Bay
[Related: Home ownership rate among young Aussies falls by 10%]