Can’t Afford a First Home in Brisbane? Buy an Investment Property in Regional Queensland

You’re not the only one that is struggling to afford a home. First homes in Brisbane cost an arm and a leg and possibly a few organs too! But not all hope is lost. The soaring house prices are leading to rapid expansion around Brisbane in all four directions.

And it is only going to keep growing. Buying an investment property in regional Queensland might just get you ahead.

Consider Your Options

Regional Queensland is great for those who want a more laidback, slower-paced and simple lifestyle. But being away from the city, some people can find it hard to believe a regional property is going to be worth it. Wait until you see how cheap they can be for a decent size. And those prices are only going in one direction: Up.

According to Real Estate at the end of 2024, the cheapest regional places to buy a home are Russell Island ($392k), Macleay Island ($414k), Esk ($501k), Kilcoy ($539k) and Lowood ($550k). 

A piece of land that is 536 square meters on Russell Island can go for as little as $100,000. A decent size first home with three bedrooms in Macleay Island is currently going for $475,000. 

Compared to the median house price in Brisbane, which is over $1 million now, these are great first home prices. Investment properties in regional Queensland sounding good now?

These regional areas can also be quite diverse, with beach towns along the coast, islands and inner countryside areas for outdoor lovers.

Choosing a Regional Location

Of course, choosing which location you are going to buy an investment property in will take a bit of consideration. It’s no secret that regional locations have access to fewer facilities and job opportunities than Brisbane and it’s surrounds, so make sure that the location is good for potential tenants.

For those who don’t want to stray too far, Toowoomba is an increasingly popular area, less than 2 hours away from Brisbane. Being the centre of other regional areas, it has a university, hospital, sports clubs and more.

If you’re okay with being a bit further from main cities, Rockhampton and Yeppoon are perfect for beach and outdoor lovers. Rockhampton has the largest major hospital in Central Queensland and probably one of the better airports away from Brisbane. You can easily find a home in the Rockhampton region under $500k, such as this three bedroom on a huge piece of land.

For those who want a country lifestyle, Mackay is one of the biggest inland towns.

The very affordable areas like Lowood, Kilcoy and Esk in the Somerset Region are a little bit more on the rural side. However, they are quiet and peaceful, safe, clean and great for families. These suburbs are also accessible to Ipswich and Toowoomba.

Of course, the most affordable areas like Russell and Macleay Islands are perfect for those who want the island life, but access to the mainland is something to consider.

As a general guide, the closer you are to the southeast Queensland coast the less remote the area. 

Buying Your First Home

Wherever you go you need two things: a local real estate agent and a good building and pest inspector.

Local real estate agents know the area better. You’ll also be supporting local jobs, which is always a big bonus in regional areas.

A proper building and pest inspector will let you know everything you need to know about the structure and standards of a home. Regional Queensland properties tend to be older or behind on building standards, so it is good to know what needs to be fixed up or whether you should skip the property entirely.