Property predicted to continue growing over next 10 years
CONSTRUCTION and demographic growth are healthy in Gladstone's future outlook.
That was the underlying message from Construction Skills Queensland's (CSQ) Future Workforce Analysis project presented at Gladstone's second UDIA event at the Grand Hotel last Wednesday.
CSQ researcher Kylie Long presented the data, representing the next 10 years, to local attendees.
She said the idea behind the project was to look to the future.
"People have to let go of the idea there is something wrong with the industry - there isn't,'' Ms Long said.
"It creates residential space."
But she said it would be misleading to describe any region as having a total unproblematic growth trend.
"Even where the report is suggesting consistent growth, this does not relay the full story about what is happening locally."
She said while we were living in a cost-constrained environment, post GFC, the Gladstone data indicated acceleration in building until 2022.
"With a demand for housing which is generally going to continue upwards."
Ms Long said while we were living in a cost constrained environment, post GFC, the Gladstone data indicated acceleration in building until 2022 with a demand for housing.
She said the increase in residential activity will benefit employment and economic growth.
The project's findings were constructed through experts.
The data was released in March and Ms Long said people should note, forecasts are educated guesses.
Gladstone Ray White property management and leasing director John Fieldus attended the event.
He said data is retrospective - looking a long way in the rear vision mirror.
"But Gladstone is a very different creature in a lot of ways. I think Gladstone operates as a much larger city than it is," he said.
In terms of housing Mr Fieldus said a lot had changed in the past six months. And the past three years saw 4000 construction approvals in town.
"I think investors will watch Gladstone with caution but in terms of housing prices - we call it a market correction,'' he said.
"It's balancing back out - what you will see more is local buyers being the prominent buyers.
"It wasn't so long ago in 2011/12 Gladstone was the dearest town in Queensland."
- Go to csq.org.au
- Visit the Future Workforce Analysis Publication
- Phone 1800 798 488