Blue-collar squeeze: Logan locals priced out, pushed west to buy
The couple, both fulltime workers with two-year-old twin boys and an older son, hoped to buy in Logan, on Brisbane's southern fringe, but struggled to find anything decent within their $600,000 budget.
'We were stuck with a certain amount we could spend, and it was getting more concerning as we were looking in Logan where we lived. It seemed like every week the properties were getting worse or smaller for the price you paid,' 29-year-old Mr Smith said.
They widened their search westward after routinely missing out on the few suitable properties available locally as rival buyers offered $50,000 to $100,000 above asking price.
The couple eventually secured a property in One Mile, Ipswich, on a 642 sqm block. The centrally located three-bedroom, one-bathroom home was move-in ready, a big backyard for the kids to play, and was affordable at $600,000.
'I always thought the place had a bad rap, but after living there the last month, I'm glad I agreed,' Mr Smith said. 'I was worried, but Sammy really liked the place from the get-go.'
Mr Smith is a self-employed contractor who was able to transfer to a local branch of the company, while Ms Smith, 34, now commutes to Slacks Creek for work and daycare.
'It is a compromise but if you can get into a home, it's worth it,' he said.
They worked with mortgage broker Tristan Vercoe, of Fortifi Finance, to secure a loan requiring just a 5 per cent deposit through the government's First Home Guarantee scheme.
'Most self-employed people think they will have to wait two years to get into a home, but if you get the right team working together you can get it done in six months with some forward planning, like we were able to do for Trent and Sammy,' Mr Vercoe said.
He said getting on the property ladder required a positive mindset but often also a reality check.
'Instead of focusing on the opportunities they don't have, the people who are successful are looking at the cards they've got and making the most of it.
'Trent and Sammy know this isn't their forever home, but they have already manufactured equity in that property by upgrading the floors and they are so happy,' Mr Vercoe said.
PropTrack modelling paints a stark picture of how far affordability has shifted in the past five years, by projecting 2030 home prices if recent growth continues at the same pace.
A typical house in Logan Central, now priced at $657,000, would hit $1.5m, based on 129 per cent growth since 2020.
One Mile, while currently slightly more affordable at $600,000, was on a similar growth trajectory of 134 per cent – with a projected median of $1.405m if the trend persists over the next five years.
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