First home owners find Gympie gems
NEW data that suggests it will take first home buyers in Queensland 4.5 years to save a deposit for a house is good news for the Gympie region.
With the median house price in Gympie sitting between $270,000 and $300,000, Harcourts Real Estate sales manager Ann Maree Margetts said it would be easier for first home buyers to get into the market here.
Since first home owners won’t have to save as much to get into the Gympie market, it may entice a few new faces to the region.
“All the facilities are here, it’s a great location,” Ms Margetts said yesterday.
“Where else can you go with all the facilities and be so close to the coast (that’s still affordable)?”
And first home buyer Jeanne Borchert agrees.
Miss Borchert saved for two years to put a deposit on a block of land and house package that will cost her just $288,000 all up for a four bedroom, two-bathroom home.
“It’s awesome. It’s just so affordable in Gympie,” she said.
Ms Margetts said there were properties to suit everyone in the region, starting at $200,000 and going up to $500,000. She said with a great family and work life on offer, first home buyers should look to Gympie.
“Here you can buy a house and set up a business and have change. I would encourage first home buyers to come to Gympie; it suits everyone. It’s a very economical place to live.”
Gympie Regional Realty principal John Cochrane said it was important for young people to get into the market and, with great value property in Gympie, it would be easier.
He said to save for a deposit to buy a house in the Gympie region would not take four years as house prices started at about $240,000.
Mr Cochrane said to buy a block of land and build a new four-bedroom house with double lock-up garage and ensuite could cost as low as $290,000.
And with a new highway, Brisbane and the Sunshine Coast would be more accessible by Gympie region residents.
“Homes are much better value here than anywhere south,” he said.
He said there was a huge variety of homes for people looking for a cheaper option.
“Gympie is extremely affordable. I think the market has the potential to grow. Gympie is the number one spot for people to be buying. It’s a very solid self-supporting town with a variety of industries.”
PRD Nationwide principal Helene Faint said, naturally, people should be looking to buy in Gympie.
“People need to understand what a brilliant place (Gympie) is to live and how close to the coast,” she said.
Ms Faint said she was surprised with the amount of people she discovered who commuted from Gympie to Brisbane and the Sunshine Coast for work every day by train. But she thought it was a good idea, with house prices remaining affordable in the region.
She said people could have a wonderful lifestyle and still work in the city by commuting and encouraged first home owners to look to regional towns like Gympie.
“It’s not far (to commute) and the roads are getting better. (Commuting) gives you the best of both worlds,” she said.
Ms Faint said if first home buyers looked to buy in Gympie they would only have to save for about two years instead of four or up to six years to get into the Brisbane and Sunshine Coast markets.
“It’s definitely a buyer’s market. You’ve got to get into the market and start now while the prices are good. It’s worth the sacrifice.”
Laguna Real Estate office manager/licensee Emily Lang said it was more affordable to get into real estate in Gympie compared to the Sunshine Coast and Brisbane, but incomes in Gympie were relative.
So, although house prices were lower, it might still take just as long to save because people were earning less. But she said the lower deposit needed was still attractive.
“At the end of the day it’s still a lot easier to get into the market at a place like Gympie and it’s a beautiful place to live,” she said.
Ms Lang said she found there was a lot higher turnover of property in Gympie compared to the Sunshine Coast due to the region’s affordability.
The data that revealed it took about 4.5 years to save a home deposit of 20 per cent was published in the second annual Bankwest First Time Home Buyer Report.