‘Still attainable’: First homebuyer seeks out gold in Ipswich

At a time when the Great Australian Dream is becoming a nightmare, one young woman is endeavouring to defy the odds.

25 year old Kate Spain-Mostina is in the market and looking to purchase her first home in Ipswich. Picture: Nigel Hallett.

At a time when the Great Australian Dream is becoming a nightmare, one young woman is endeavouring to defy the odds.

First homebuyer Kate Spain-Mostina, 25, is looking to buy her first home in Ipswich and still clings to hope that buying a home in the current market is attainable for young people like herself.

“I know it’s quite busy out there, the house prices are more affordable in Ipswich,” Ms Spain-ostina said. “Once I’ve got my savings at full capacity, then I’ll be more active in looking.

“I’m in a good position; I’ve got friends in real estate, close contacts and people who can help me.”

Ms Spain-Mostina said she would prefer buying an established home rather than a new build.

“I want something I can put some money into and renovate,” she said.

“The plan is to purchase something that will be a starter; it won’t be my forever home.

“I’ll stay in it for one to two years and use the equity to build my portfolio. My end goal is an ocean-view property, preferably on the Gold Coast.”

Property agent Chevy Sukkar from Ray White Ipswich said the market in the area was still affordable.

“When you look at the amount of infrastructure here in Ipswich compared to our affordability rate, we are much more affordable than Brisbane,” Mr Sukkar said.

“I’m having up to 40 groups for each open home. We have more stock than the Brisbane market compared to where we were 12 months ago; we have less stock but about as many buyers.

“There aren’t as many interstate buyers around now, but enough people are around to keep the momentum going.”

Chevy Sukkar, Ray White Ipswich

Mr Sukkar said the market in Ipswich was strong.

“Our market is going in a positive direction and has done so in the last 24 months, but hesitation is a huge factor for most people,” he said.

“When people hold off on buying because they want prices to come down even though they can afford it, they should buy anyway.

“When you pay for a piece of real estate, and you pay a lot of money, it incentivises all the other neighbouring properties to go up in value.

“It works hand-in-hand, and that’s how it should be. If everyone thought small, the market would also be small; it’s an algorithm.”

According to PropTrack, the median house price in Ipswich is $555,125, having risen 11 per cent in the past year.