Compare Home loans in QLD

Compare Home loans in QLD and calculate mortgage repayments - Data last updated on

Compare Home loans in QLD


Home loans in QLD

Often called the Sunshine State, both investors and families alike are attracted to Queensland by its mild climate and famous beaches. The population is mostly centred in the southeast corner, with the major cities of Brisbane and Gold Coast being a hub for employment, culture and government. The cities of Townsville, Cairns and Rockhampton are also popular centres along the North Queensland coastline. These areas are extremely appealing to both interstate and foreign buyers due to employment opportunities and the exceptionally good lifestyle. 

What do I need to know about the Queensland property market and economy?

The cities and towns further east and along the coastline rely on tourism for a large part of their income, with the lovely beaches, the Great Barrier Reef and other natural features being a drawcard for tourists. The further you go west into the more arid rural areas, both the agricultural and mining industries become more prominent and economically lucrative. Properties towards the southeast coast and parts of the northern coast are generally in higher demand and can be more expensive than similar properties in other parts of the state and interstate. Conversely, properties towards the west of the state are more affordable but employment opportunities vary depending on the current success or otherwise of the agricultural and mining industries. 

Should I get a home loan in Queensland?

The Queensland economy and property market is usually stable and at times experiences positive growth. Due to the state’s attractive natural features, properties are usually in high demand and are a good investment. The state also has a relatively low or average cost of living compared to Victoria, New South Wales and the Australian Capital Territory. All home loans are regulated under the Commonwealth government laws and regulations.  

What are the potential downsides?

Parts of Queensland are susceptible to extreme weather events; this includes cyclones and heavy rain in the north and southeast as well as occasional droughts in many regions. Natural fires also occur. Certain suburbs, towns and properties are more vulnerable than others to these conditions. It is important to research this before purchasing a property in Queensland.

Does the Queensland Government charge extra fees or levies?

Like other states, the Queensland Government charges a transfer duty when purchasing a property. It is calculated on the value of the property or the consideration paid - whichever is greatest. There is usually an additional amount charged if a foreigner is purchasing residential land. Also, depending on the type and intended use of the property you are purchasing, you may have to pay a landholder duty. 

Can I apply for any concessions or grants?

The government offers a First Home Owners’ Grant if you are a first home buyer and are buying or building a new property. You may also be eligible for a housing finance loan provided by the government for the purchase of an established house, unit, townhouse or duplex, or to build a new house. These programs have a number of conditions and are subject to change.


Bad credit home loans can be dangerous if the borrower signs up for a loan they’ll struggle to repay. This might occur if the borrower takes out a mortgage at the limit of their financial capacity, especially if they have some combination of a low income, an insecure job and poor savings habits.

Bad credit home loans can also be dangerous if the borrower buys a home in a stagnant or falling market – because if the home has to be sold, they might be left with ‘negative equity’ (where the home is worth less than the mortgage).

That said, bad credit home loans can work out well if the borrower is able to repay the mortgage – for example, if they borrow conservatively, have a decent income, a secure job and good savings habits. Another good sign is if the borrower buys a property in a market that is likely to rise over the long term.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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