They faced a 200% rent hike—so they sold everything and sailed away instead

When Grant and Louise Cause received notice of a shocking 200 per cent rent increase on their Brisbane apartment 18 months ago, they refused to be priced out of their own city.

Instead of joining the queue for limited rentals, the couple made an unexpected choice—buying a $250,000 houseboat on the Brisbane River.

Now, they enjoy the same inner-city lifestyle for less than what they once paid in rent.

Their decision to drop anchor rather than sign another lease highlighted just how severe Brisbane’s housing crisis had become.

Grant explained during a recent television appearance that their shift to houseboat living came out of necessity, not novelty.

‘We were renting for a number of years, and then the market changed, and prices just went through the roof,’ he said. ‘We had to look for alternatives to find a rental in Queensland that suited us, so we looked at maybe investing in an asset, and houseboats were affordable at that time.’

Brisbane’s rental crisis reaches breaking point

Brisbane’s rental market had spiralled to record highs, with rents rising over 35 per cent since 2020 and vacancy rates hovering around one per cent—well below the balanced range of two to three per cent.

By late 2024, average weekly rents in Brisbane were about $685, with houses surpassing $600 and units averaging $500.

For many residents, particularly retirees and those on fixed incomes, these prices made traditional housing unattainable.

The numbers that float their boat

For the Causes, the financial benefits of their floating home were immediate.

They paid around $500 per week in mooring fees—including electricity and water—compared to the $700 weekly rent of a comparable apartment.

That $200 weekly difference translated to more than $10,000 saved each year.

The couple said those savings could go towards travel, healthcare, or simply building a more secure financial future.

More than just a roof overhead

Life on the water also brought unexpected joys.

Their Dockside Marina home kept them close to ferries, buses, and the city’s riverside attractions.

‘We have got lots of room on the houseboat, and we are close to public transport,’ Louise said. ‘You get to meet all your neighbours. It's like a little community.’

The pair quickly found a supportive circle of fellow residents and now enjoy front-row seats to Brisbane’s annual Riverfire fireworks display.

Weighing anchor on traditional housing

Grant said the adjustment to living on water was easier than expected.

With a full kitchen, laundry, and two bedrooms, the boat felt more like a waterfront apartment than a cramped cabin.

‘The only reminder that we’re floating,’ he joked, ‘is the gentle rocking at night.’

Practical considerations for potential floating residents

For others considering similar alternatives, experts suggest doing thorough research before taking the plunge.

Marina fees, amenities, and community culture can vary widely, and factors such as access to medical facilities and emergency services should be weighed carefully—especially for older Australians.

Many marinas, however, now offer established communities with strong support networks, making them appealing for those seeking both savings and social connection.

Alternative housing gains momentum

The Causes’ experience also underscored a broader truth about the housing market: investing in an asset, rather than continuing to rent, can provide both security and long-term financial gain.

With housing supply still lagging behind population growth, analysts expect Brisbane’s rental prices to remain under pressure.

That has encouraged more Australians to explore non-traditional housing—from tiny homes to converted buses and floating residences.

Now, Grant and Louise plan to travel along the Queensland coast, embracing a lifestyle that blends adventure with practicality.

Their story serves as a reminder that when housing costs hit crisis levels, creativity can be the key to staying afloat—literally and financially.

For those exploring different ways to maintain comfort and security without the strain of rising housing costs, houseboat living is just one creative path forward.

Another option that often promises community and convenience is retirement village living—but it comes with its own financial considerations.

If you’ve ever wondered what truly lies behind those glossy brochures, the next story offers an eye-opening look at the fine print and hidden costs.

Read more: Retirement Villages Promise a Golden Life – But at What Cost for Older Australians?

Would you consider trading bricks for a boat if it meant saving thousands each year?