A Brisbane couple have revealed how they keep their living costs to just $250 a week each by choosing to live on a houseboat instead of in a city apartment. 

Grant and Louise Cause bought a houseboat on the Brisbane River at Dockside Marina in the centre for $250,000 about 18 months ago after house prices soared.

‘We were renting for a number of years, and then the market changed, and prices just went through the roof,’ Grant told Sunrise on Tuesday.

‘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.

‘So, we looked at doing that, and, you know, we have been living here for about 14 months now.’

The couple have estimated they save a total of $10,400 a year after only paying a weekly mooring fee of $500 a week, which covers electricity and water.

Meanwhile, they said an apartment in Brisbane could see them forking out roughly $700 each week.

Their only other costs are insurance and maintenance, and they said their general cost of living is lower. 

Grant and Louise Cause (pictured) bought a houseboat on the Brisbane River for $250,000 about 18 months ago after house prices soared, saving about $10,000 a year

The couple said the houseboat (pictured) is the equivalent of a two-bedroom home

But this doesn’t mean they are without desirable amenities, with Mr Cause explaining that the boat is the equivalent of a two-bedroom apartment including laundry. 

‘You (sometimes) find yourself rocking occasionally back and forth (on the boat),’ Mr Cause said.

‘We have got all the creature comforts, too. Our houseboat is the equivalent of a two-bedroom apartment.’

His wife added that there have been no downsides while living on a boat, saying: ‘You’ve got beautiful river views so it’s sort of better than a house.’

‘We have got lots of room on the houseboat, and we are close to public transport, you have got ferry and buses, and you get to meet all your neighbours.

‘It is like a little community. Great views of Riverfire (Brisbane’s large-scale fireworks display). What more could you want?’

Home prices grew nationally at 0.6 per cent in July, marking six consecutive months of increases that have driven median dwelling prices to $927,000 in the capital cities and $689,000 in the regions, property data firm Cotality found in August.

This increase aligns with the Reserve Bank’s first rate cut in February and with more on the horizon, prices are only expected to accelerate.

Home prices grew nationally at 0.6 per cent in July, marking six consecutive months of increases that have driven median dwelling prices to $927,000 in capital cities (stock image)

Last month, it was revealed Darwin home prices had grown 2.2 per cent compared to Perth at 0.9 per cent, Brisbane and Adelaide at 0.7 per cent, Sydney at 0.6 per cent and Melbourne at 0.4 per cent.

It was one of the first times since the 2010s that price rises in the Top End capital have led the market.

Houses have also outpaced units in price growth across Australia, rising by 1.9 per cent compared with 1.4 per cent for the latter.

Australian Bureau of Statistics data found the number of approved dwellings rose to 11.9 per cent in June, driven largely by units and apartments.