Expensive Sydney property prices are driving would-be first homebuyers to other capitals

Research by Mirvac and PIPA found buyers in New South Wales were the least inclined of any state to pursue a home of their own and the most inclined to invest, with nearly half planning an interstate purchase and more than 60 per cent open to rentvesting. Sydney’s median house price sat about $400,000 above Brisbane’s. Chairman Peter Koulizos said buyers were looking well beyond their own backyard.