Buyer confidence plunges but some still prefer to own home
A STUDY has revealed first-home buyer confidence is at its lowest level since 2008, but some Gladstone residents prefer to buy than pay high rents.
"With the amount of rent you're paying, you're better off paying for a house," local home owner Adrian Johnson said.
Mr Johnson has just bought his first home at 32 - a comfortable three-bedroom house in Kin Kora that will set his family up for the next few years.
"It just gives us the stability," he said. "We don't have to worry about the rent going up, and it's our own home."
The family had been renting a place from Mr Johnson's parents and were able to secure a new home for about $390,000.
"Yeah, it has dropped I would say," Mr Johnson said.
Research from company RFi found the rate of first-home buyers in Queensland had dropped because of changes to the grant and uncertainty in the job market.
Fortunately for local carpenter Dallyn Bishop, his skills have been employed in the past few years because of the boom.
Mr Bishop bought an acre of land (4046sq m) at Awoonga Country Estate for $260,000 in early 2012 and built his own home.
"Prices were about the same for a small block in town, but 700sq m," he said.
The 23-year-old lived at his parents' house paying board until he saved enough to purchase the land.