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2015: “Buying in Gladstone is Cheaper than Renting”

By Andrew Allen

When the Pengelly family recently found their perfect home in West Gladstone they could hardly believe their good fortune. Whilst many residents are talking of the misfortunes of the Gladstone market, Bradley and Yen Pengelly feel that they are the luckiest people alive, after all they have made that life changing leap into home ownership. Bradley and Yen are the classic example of a young couple that have found it immensely difficult to break the shackles of renting, after all they were paying $380 per week for a very basic unit in 2012 when they were both working at McDonalds. With rental rates becoming lower in recent years this gave the Pengelly’s the opportunity to save a modest deposit which has inevitably given them a foot in the door, pardon the pun, to home ownership. Bradley is a second generation Gladstone resident, his dad has worked for the railway since he can remember, and Bradley now happily works for Woolworths. “I feel very fortunate, so lucky to have a good home for my wife and two children, and it only cost around $200,000”, says Bradley. “We only realised that we could afford a home last year, and although we were unsuccessful first time around, Derran Corke from Ray White and Chris Maguire from Loan Market made our dream a reality”. Bradley said “In fact the payments are $100.00 cheaper than the rent we have been paying”. “Chris made a big difference, he has been a great help to Yen and I and our families are just so proud of what we he has helped us achieve”. Bradley and Yen already have big plans for their new home, and high on the agenda is polishing the floors, patching and painting, doing up the bathroom, and setting up a playroom for their children Rew and Jasper. Sounds like some fun ahead for this family! The story of the Pengelly’s will hopefully inspire many others to take advantage of the fortunate market conditions for budget buyers, with the lowest prices in a decade and the lowest interest rates in a generation their story will hopefully be repeated by many more Gladstone families.

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