Melbourne to Queensland exodus 'starting to see reversal' amid housing unaffordability
Some first-home buyers in South-East Queensland are relocating to Melbourne due to worsening housing affordability, despite the federal government's 5% Deposit Scheme aimed at improving access to homeownership. The scheme's price caps have not kept pace with rapidly rising property values in SEQ, making it difficult for buyers to secure homes even with financial assistance. As a result, cities like Melbourne, with lower median prices and better alignment with the scheme’s caps, are becoming more attractive for aspiring homeowners.
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SEQ first-home buyers turn to Melbourne as 5% Deposit Scheme provides limited opportunityHBy Heloise VyasABC Gold CoastTopic:Housing Policy19m ago19 minutes agoTue 28 Apr 2026 at 7:42pmSiddharth Nagar is leaving the Gold Coast for Melbourne after a prolonged house hunt. (ABC News: Glenn Mullane)abc.net.au/news/gc-homebuyers-relocate-melbourne-5-pc-deposit-scheme-helps-few/106492412Link copiedShareShare articleWith a full-time job as a civil engineer, Siddharth Nagar believed he was financially on track to becoming a home owner.But six months on and dozens of auctions later, the 32-year-old Gold Coast man said it was an impossible prospect on a single salary."You either have to do two jobs or you need a partner with a really good income," he said.A $1.5 million unit sale captures a growing…
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