First-home buyers have lost up to $225,000 in equity in less than a year

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Brisbane’s first-home buyers are losing up to $225,000, completely wiping out their deposits as the property market grinds to a halt. Exclusive SuburbData research found more than half (54.1 per cent) of Brisbane homes that can be bought with a five per cent deposit have lost equity since the scheme was expanded in October, when the federal government waived income caps, waitlists and lenders mortgage insurance. Almost a quarter (24.3 per cent) have lost enough to erode the money spent on a five per cent deposit. New data has revealed more than $54.1 per cent of five per cent deposit-eligible homes in Brisbane have lost up to $225,000 worth of equity in 10 months. Picture: Brendan Radke SuburbData director and property analyst Jeremy Sheppard said Brisbane would be one of the riskiest markets for first-home buyers over the coming years, if prices continued to fall. “The worst market to buy with a five per cent deposit is an area that is peaking, and that’s what’s happening in a lot of Brisbane,” he said. “There may still be growth in a lot of areas, but it would be a risky deal to buy in a lot of the Brisbane market right now.” SuburbData director and property analyst Jeremy Sheppa...

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