POSTIVE: Riley Allen, Tai Allen, Steve Cross, Jack Noy, Josh Bailey and Chris Allen.
POSTIVE: Riley Allen, Tai Allen, Steve Cross, Jack Noy, Josh Bailey and Chris Allen. Mike Richards GLA100119BULD

Confidence building in Gladstone's real estate market

CONFIDENCE is building in Gladstone's real estate market with some encouraging signs of a recovery in the industry.

Greg Hill of Greg Hill Finance said there has definitely been an improvement in the market.

"House prices are fairly cheap at the moment," he said.

"And there are certainly plenty of first home buyers taking the opportunity to get into their first home.

"It's definitely a good time to buy."

Builder Chris Allen is also optimistic about the year ahead.

"Land is priced really well now so people can afford to build a new home instead of having to buy an established house," he said.

"Enquiries for new homes have doubled, so 2019 is off to a very good start," he said.

"We've got about six houses to start which is brilliant."

Both agreed that the recent downturn had been very hard on the industry.

"The last four years were pretty dismal," Mr Allen said.

"I've been building in Gladstone for 28 years and have seen a few little recessions.

"We have a reputation as a boom and bust town, and a lot of people are looking forward to things steadying out again, which we know it will.

"But we've seen some massive transformations around Gladstone in that time.

"What's happened in the last 30 years has been huge, especially around the Boyne Island and Tannum Sands area."

Mr Hill said in spite of a general tightening of credit policy, banks were still looking for the credit basics.

"When it comes to home loan applications if you have a stable job, good credit history and an income that supports repayments there's no reason why they won't lend to the right applicants," he said.

Mr Allen said as confidence builds the secondary benefits will flow on to other businesses.

"The building and real estate industry support a lot of other businesses around town," he said.

"And right now there's a lot of good bargains around Gladstone, that's for sure."

"Things are definitely looking up."