While century-old mining stacks continue to dominate the skyline of Mount Isa, the demographic living below them is experiencing a youthful resurgence. Dubbed the 'oasis of the outback,' this north-west Queensland hub boasts one of the youngest average populations in the state, maintaining a steady median age of just 31 years across the 2016 and 2021 censuses.

'That is quite a bit lower than the median age of all Australians, which currently sits at 38,' noted National Census spokesperson Emily Walter. This youthful energy, driven by robust career opportunities in mining, education, and healthcare, is forcing a closer look at how the local property market supports first-time buyers.

High Salaries, Low Living Costs

For 31-year-old mother of four Emma Scott, Mount Isa offered a lifestyle and financial freedom that metropolitan coastal areas simply could not match. After moving to the city as a teenager and partnering with local resident Layne Creer, the couple recently purchased an established four-bedroom, two-bathroom home for under $350,000.

'We have friends living on the coast whose rent is almost double what we pay in mortgage repayments,' Ms. Scott said, noting they secured the home without any government grants. The purchase price aligns closely with Mount Isa’s current median house price, which market data places at approximately $312,000.

However, Ms. Scott pointed out that regional buyers face unique hurdles. The Queensland Government's First Home Owner Grant is heavily geared toward new builds, yet municipal data reveals only five new private dwellings have been constructed in Mount Isa since 2022. This scarcity effectively locks out buyers of established homes from receiving state assistance.

Adapting to the Outback Market

The lack of new housing stock has prompted creative solutions from aspiring homeowners. Sarah Horner-Glister, 30, relocated from Brisbane five years ago, trading a million-dollar metropolitan market for the red dirt of the outback. Now, she and her partner, Jake Foschi, plan to purchase land and install a demountable home within the next nine months for under $300,000.

'I’m from Brisbane, where houses are easily a million dollars plus, making a five percent deposit virtually impossible for young people,' Ms. Horner-Glister said. 'Here, we can utilize the federal government's five percent deposit scheme to get our foot in the door.'

She believes regional buyers shouldn't be penalized by grant criteria that prioritize new builds when those options are physically unavailable in the local market.

Advocating for Change

Local leaders are championing the call for policy adjustments. Mount Isa Mayor Peta MacRae, who herself moved to the city in 1997 as a 24-year-old teacher, is incredibly proud of the city's young and vibrant demographic. However, she acknowledges that the property market remains tightly bound to commodity price cycles and regional building constraints.

'We think it would be a lot more attractive for young people if they had access to the grant for established homes,' Cr. MacRae said. She argued that while metropolitan policymakers might view $300,000 homes as affordable enough to not require assistance, denying the grant to regional buyers of older homes disadvantages them in the long run.

In response to regional housing concerns, State Minister for Home Ownership David Janetzki indicated that efforts are being made to support non-metropolitan buyers, noting that 50 percent of places in the state's home ownership initiatives are reserved for rural and regional Queenslanders. For the residents of Mount Isa, adjusting these policies to reflect local realities could unlock even greater potential for the thriving outback community.