Revealed: Massive savings if you build a house

Buyers are being urged to turn to the ‘burbs where the average house and land package is as low as $793,746 in Ipswich.

It’s more affordable to buy a house and land package in Brisbane’s major growth areas, over an existing home in the river city, new research reveals.

With Brisbane’s median house price topping $1m, buyers are being urged to turn to the ‘burbs where the average house and land package is as low as $793,746 in Ipswich.

That’s cheaper than 81 per cent of suburbs in southeast Queensland.

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New research from Oliver Gume Property Group compares the price of a house and land package with buying an established home.

New research from Oliver Hume Property Group — that compares the price of a house and land package with buying an established home — found Logan was the next most affordable with house and land cheaper than 77 per cent of suburbs across the region.

The data showed Moreton Bay’s median new house and land price was more affordable than 73 per cent of southeast Queensland suburbs, while the average price in Redland was more affordable than 55 per cent of suburbs.

The most expensive city (excluding Brisbane) for new homes was the Gold Coast at $1.153m — but that is still more affordable than 45 per cent of suburbs.

The average Sunshine Coast home and land package was $1.135m, while Brisbane’s was $1,332,659.

Matt Bell from Oliver Hume

Oliver Hume chief economist Matt Bell said buying new house and land packages in Brisbane’s growth corridors remained one of the most attractive options for buyers priced out of established suburbs.

“When you buy a new house and land package, you’re purchasing a home that is built to today’s standards, designed for modern living, and usually supported by new community infrastructure,” he said.

“That combination often represents better overall value than an established home.

House and land packages were also generally located in growth corridors.

“New builds also come with some important financial advantages, including builder warranties and far lower maintenance costs in the first decade of ownership.”

“Buyers can also access depreciation allowances, particularly appealing for investors who want to offset their taxable income.

“Energy efficiency is another area where new homes stand out.

“From insulation and glazing to solar readiness and water-saving fixtures, new homes generally have much lower running costs. Over a 20-to 30-year horizon, the savings on utilities alone can add up to tens of thousands of dollars compared with older housing stock.”

Construction at Skyridge estate in Worongary on the Gold Coast. Picture: Supplied

Mr Bell said house and land packages were also generally located in growth corridors, where governments and developers were investing heavily in new schools, transport links, and community amenities.

“This creates strong potential for capital growth as the area develops. For many buyers, it’s not just about owning a new home, but also about securing a place in a growing community with future upside.”

“Taken together, these benefits make new house and land packages a compelling choice for value-conscious buyers.”

The benefits make new house and land packages a compelling choice for value-conscious buyers.

The data follows the decision to expand and fast track the Labor Party’s signature First Home Guarantee scheme.

Under the updated scheme, the government will guarantee a portion of a first-home buyer’s home loan, so they can purchase a home with a deposit as low as 5% and avoid paying lenders mortgage insurance (LMI).

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