Barcaldine Emerges as Affordable Housing Hub in Outback Queensland

Barcaldine, a town in outback Queensland, is attracting individuals seeking affordable housing and a lower cost of living. This trend is highlighted by the experiences of two residents who moved to the area due to its accessible real estate market.

New Residents Find Debt-Free Living and Entry into Housing Market

Kerry Duncan, 59, relocated to Barcaldine from Townsville to retire debt-free. She purchased a cottage for $140,000, enabling her to own her home outright after selling her previous residence.

She noted the availability of houses under her $150,000 budget online.

Jack Jones, 25, moved to Barcaldine for work after university. He acquired an old three-bedroom Queenslander for $220,000 using a federal government 5% deposit scheme.

He found the mortgage repayments to be less than local rental costs, citing the lower prices compared to Brisbane as a primary factor in his ability to enter the housing market.

Market Data Highlights Significant Affordability Gap

Barcaldine's median house price is $162,500, according to Cotality's Market Trends report. This is significantly lower than Brisbane's average of $989,000.

The median asking rent in Barcaldine is $320 per week, nearly half of Brisbane's $650 per week.

Expert Analysis: Buying Outweighs Renting

Vanessa Rader, head researcher at Ray White, indicated that Barcaldine is one of the few Australian markets where buying can be more economical than renting. This affordability is drawing both investors and first-home buyers.

Home buyer schemes, which have influenced price growth in major cities, are assisting buyers in regional areas to access properties with greater ease.

Community Spirit: An Added Bonus

Both Duncan and Jones also cited the community aspect as a significant benefit of moving to Barcaldine. Duncan mentioned receiving help from neighbors.

Jones appreciated the supportive and inviting community, contrasting it with the higher cost of living in Brisbane.