Why Brisbane first-home buyer packed up for Melbourne

Victoria’s softer property market is drawing first-home buyers from interstate and pushing others to rethink how they get a foothold. Picture: Mark Stewart A Brisbane first-home buyer moved almost 1700km south after deciding Melbourne offered him a better shot at home ownership on one income. James Miller had been reassessing his future after a relationship ended and learning his job would be made redundant in 2027. But when it came to deciding where he could realistically afford to buy, Melbourne emerged as the standout. RELATED: ‘We’re done’: Block house resurfaces after chaos Local Vic pizzerias becoming Pizza Huts in takeover push Vic homeowners facing $167bn wipeout “Realistically, if Brisbane was the same price, I wouldn’t have moved,” Mr Miller said. “Out of all the capital cities, it was by far the most achievable for a single income for what I was chasing.” Mr Miller ultimately paid $522,500 for a two-bedroom unit in Elsternwick after considering whether to remain in Brisbane. He said getting into the market now mattered more than trying to pick the perfect time. “If I didn’t get in now, it would have been very difficult to get in later on because obviously the property pr...