In response to your post..

I would be looking at incentives such as the QLD builders grant ($10,000) to any investor, must be permanent resident or Australian citizen and purchase must be brand new or off the plan. For more information on this Government incentive please visit QLD office of state revenue website http://www.osr.qld.gov.au/

Furthermore It all really depends on your individual scenario. For example if you are paying to much tax might be a good idea to look at purchasing brand new or if you do not perhaps better waiting until you have saved more of a deposit. At the end of the day whatever you choose I recommend you do two things:

1. Purchase Below Market Value <moderator: delete advertising>. Just briefly the best guide to ascertain current market value is bank valuation however you need to ensure you are buying in an area with solid fundamentals such as transport, schools and industry/employment.

2. Take out all emotion when purchasing and look at the numbers and growth opportunity.

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I wish you the best of luck in your endeavours, just keep in mind the first property is always the hardest. If you buy correctly it will all be down hill from the first purchase choose wisely and make sure you listen to as many people as possible before making the final decision and purchasing your first investment.