Hotspot in Focus: North Lakes
North Lakes is a suburb of the Moreton Bay Region of Queensland, Australia. North Lakes is located approximately 26 km north of the Brisbane CBD. Originally part of Mango Hill, the suburb of North Lakes was only established in 2006. We take a look at why the suburb of North Lakes is so popular with first home buyers.
Disclaimer: This article is general nature and should not be relied upon. FHBA is not qualified or licensed to recommend locations for your first home. If you do not know where you want to buy your first home, you should speak to a licensed professional.
Why the suburb of ‘North Lakes’?
A family-focused suburb with all of the convenience of a city. This has made North Lakes a very popular among aspiring first home buyers. Some reasons why first home buyers might find North Lakes as a suitable first home choice include:
Variety & Lifestyle – For young people & families, North Lakes is located in an ideal setting to experience a supportive community and for future residents. With the following amenities available within the suburb, it is no surprise that there are very few reasons why North Lakes residents would ever want to leave their suburb.
- Schools
- Sporting fields
- Westfield Shopping Centre – with Myer, supermarkets and more than 200 specialty stores, shoppers can find everything they need within minutes of home.
- Libraries
- Swimming pool
- Medical centres
- Golf Course
- Bike paths
- Gyms
- Major specialty stores – North Lakes is also home to the Brisbane region’s first Costco Warehouse and its second IKEA store, as well a Bunnings Warehouse.
Therefore, first home buyers in North Lakes can enjoy all the benefits of community living but with easy access to everything Brisbane has to offer.
The median age of residents is 31, which is six years less than the national average. As a comparatively young community, North Lakes is the perfect home for young professionals, singles, and families with the kids.
Transport & Location – The Bruce Highway entrance is located close by, running south to Brisbane and north to the Sunshine Coast, and there is also a main arterial Anzac Avenue takes you to the bay in ten minutes for a swim or some fresh seafood.
There is a major bus station in North Lakes and trains can be caught from nearby Mango Hill.
Schools – There are six child care and early learning centres in North Lakes, plus a number of public and private schools, making it the ideal suburb for young families. As the North Lakes Business Park continues to grow with more businesses coming to the area, more parents will be able to avoid the commute to Brisbane and work in the local area.
North Lakes is home to some of the QLD’s best ranked schools.
Aerial view of North Lakes
The North Lakes economy
With huge growth predicted for this area, and more investment from the government and local businesses, North Lakes is a community for today and tomorrow. North Lakes has already recorded a population increase of 39% between 2011 and 2016.
The economy of North Lakes is stable and steadily growing. The unemployment rate is at 5.1%, which is below the national unemployment rate of 5.6%. 21.3% of residents are professionals. The median weekly income for families is $1873, well above the national average of $1481. The lower unemployment rates and higher median incomes in North Lakes indicate that the suburb is surrounded by a robust economy that allows residents to enjoy higher standards of living.
North Lakes is one of the fastest growing suburbs in the state, with the population almost doubling between 2011 and now.
The local government in the North Lakes area is also working closely with the QLD Government to make North Lakes a greater attraction for residents looking to move to the Northern suburbs of Brisbane.
North lakes first home buyer housing
With the median house price in Brisbane’s inner suburbs unaffordable for first home buyers, it is no surprise that the North Lakes suburb is popular with aspiring first home buyers, especially those looking to take advantage of the QLD FHOG. and the Stamp Duty concessions available for established home buyers under $505,000
According to APM Data, the median prices in North Lakes are as follows (as of January 2018):
North Lakes Houses – $495,000
North Lakes Units – $438,150
The median prices mentioned above shows the region is comparatively more affordable than many other parts of Brisbane. First home buyers are able to take advantage of QLD FHOG of $20,000 – for brand new homes, as there are several new home options available in North Lakes & surrounding suburbs. In QLD, first home buyers are also able to enjoy stamp duty exemptions (for both established & new houses) up to a purchase price of $505,000 and stamp duty concessions up to $550,000
Other popular & affordable suburbs surrounding North Lakes include (house price median as of January 2018):
- Mango Hill – $514,900
- Dakabin – $415,506
- Griffin – $465,000
A boom in the construction industry in QLD has also resulted in a greater number of house & land packages and new apartments becoming available in the area and allowing first home buyers take advantage of the $20,000 FHOG in QLD and affordable prices relative to other Brisbane regions.
You can own this brand new home in North Lakes for $462,000 – well below the median price!
Looking to determine if you have saved enough for your first home in one of the above suburbs? Click here to use our Eligibility Estimator.
How can FHBA help secure your first home in North Lakes?
Buying your first home can be quite tricky. That’s why at FHBA, we are with you every step of the way, even as far as helping you move into your first home!
First Home Loan
Your FHBA Coach will explain all the steps, determine your borrowing capacity, offer suitable loan options, compile your loan application paperwork and even assist you with applications for the FHOG in QLD. Click here to get pre-approved with a no-charge assessment!
FHOG eligible brand new home
We have access to a range of brand new property opportunities for aspiring first home buyers looking to buy in North Lakes and surrounding areas (all with FHOG eligibility + the FHBA 50 Rebate!). Be sure to complete the form at the bottom of this page if you are interested and want to know more about the exciting apartments, townhouses and house & land packages we have access to. Alternatively, search our large range of properties by clicking here.
Established homes
FHBA assists first home buyers looking to buy an established home – regardless of budget, property type, or property location, we will not rest until you have successfully settled on a property you have chosen & you have comfortably moved into your first home.
If you are looking for more information or if you have any questions, please complete the form below to speak with an FHBA Coach.
Written By,
First Home Buyers Australia
