Property:Repayments can be cheaper than rent on Fraser Coast
THE Australian dream of owning a property might be out of reach in metropolitan areas like Sydney, but it's a far different story in regional Queensland.
A combination of low interest rates and homes readily available in the $200,000-$300,000 price bracket means this dream is becoming a reality for buyers on the Fraser Coast.
Sales Supervisor from Raine and Horne Hervey Bay Tim Wessling said in some cases paying a mortgage was cheaper than paying rent.
"Repayments are quite affordable, it's the best time to get into the market," Mr Wessling said.
"As long as properties are priced correctly and as a seller you know who your buyers are, you'll sell the property."
Mr Wessling said it wasn't just the lower end of the market in demand, there were currently a mixture of buyers including locals, those retiring to Hervey Bay and families making a move for our lifestyle.
Malcolm Quinn from Prime Agents in Hervey Bay, said there was an interesting supply and demand dynamic in the market at the moment.
"There are less properties on the market but the number of properties under contract are sitting higher than what we'd normally see," Mr Quinn said.
"Properties priced right are selling.
"Last week we sold a home for $310,000 and another one sold for $800,000," he said.
Mr Quinn said affordable price points meant young people were able to enter the market on the Fraser Coast.
"It must be very challenging for young people to enter the prop market in metro areas when you could enter it here and get so much more bang for your buck."