Logan, a growing commercial property hub, has witnessed a staggering surge in prices, presenting challenges for young aspiring property owners. Jermia Turner, a third-generation operator of a Logan caravan park, had long nurtured the dream of homeownership. Despite diligent saving and loan pre-approval, the reality of purchasing a property now seems elusive for her.

Turner’s initial budget of $500,000 has been rendered insufficient as comparable properties now command prices exceeding $1 million. This drastic escalation in property values has left her disillusioned, struggling to reconcile the exponential increase. Turner’s journey exemplifies the hurdles faced by young entrepreneurs in the real estate market.

Partnered with Lloyd Johnston, also a business owner, Turner’s combined borrowing capacity was constrained due to both being self-employed. Consequently, she is solely responsible for the property purchase. Seeking the expertise of a buyers’ agent, Turner navigates the competitive market in areas like Daisy Hill, Cornubia, and Shailer Park, where her budget falls short of securing a suitable property.

The prevailing scenario in Logan reflects a broader trend, with house prices in Logan Central surging by 23.2% over the past year, reaching a median of $650,000. The region’s allure stems from its affordability compared to CBD proximate areas, attracting both first-time homebuyers and investors eyeing lucrative rental returns.

Turner’s aspirations for a modest three-bedroom home with ample outdoor space echo the sentiments of many young buyers grappling with exorbitant prices and limited options. The need to stretch budgets and account for additional renovation costs further compounds the challenge, painting a grim picture for those striving to fulfill their homeownership dreams.

The evolving landscape of commercial property in Logan underscores the complexities faced by individuals like Turner, highlighting the stark reality of a market where affordability and accessibility continue to dwindle. As Logan emerges as a sought-after investment destination, the plight of young entrepreneurs striving for property ownership serves as a poignant narrative of the evolving real estate dynamics in the region.