Barcaldine's Affordable Housing: A Draw for New Residents
Barcaldine, a town in the Outback of Queensland, has become an attractive destination for new residents seeking affordable housing. Kerry Duncan, a 59-year-old receptionist, decided to retire in Barcaldine after selling her Townsville home, attracted by the town's low property prices. She found a charming cottage for $140,000, a significant savings compared to her mortgage payments in Townsville.
Similarly, Jack Jones, a 25-year-old university graduate, moved to Barcaldine for work and was drawn to the town's housing market. He purchased a three-bedroom Queenslander for $220,000, taking advantage of the federal government's 5% deposit scheme. Jones calculated that the mortgage repayments were cheaper than renting, making it an attractive opportunity to enter the housing market.
Barcaldine's median house price is a mere fraction of Brisbane's, at $162,500 compared to $989,000. The town's median rent is also significantly lower, at $320 per week, compared to $650 per week in Brisbane. This affordability is a rare find, with Ray White head researcher Vanessa Rader noting that it's cheaper to buy than rent in Barcaldine.
The town's low prices have attracted both investors and first-time homebuyers. Rader predicts continued growth in these markets due to the low entry point for investors and the rental yields available. The federal government's home buyer schemes have further fueled this trend, allowing buyers in regional areas to access affordable homes with ease.
Beyond the financial benefits, Barcaldine's small-town spirit is a significant draw for new residents. Kerry Duncan has already received help from her neighbors, and Jack Jones praises the community's spirit and the opportunities it offers. The town's affordability and sense of community make it an appealing choice for those looking to escape the high costs and fast-paced nature of city life.
