Insight into housing affordability in the Gladstone region
THIS week Raine&Horne marketing consultant Jenny Yates shares her insight into housing affordability in Gladstone.
Housing affordability in Gladstone is at its strongest level in a decade.
The combination of low vacancy rates and high yields has resulted in the property market in Gladstone experiencing a resurgence in investor interest.
Low vacancies rates are driving up strong rental yields in Gladstone.
The Gladstone market has predominately been an investors market over the past couple of years but in recent months, we have also witnessed a strong return to the market from local 'Owner Occupiers'.
Four bedroom homes in the $415,000 to $480,000 price range are selling well, while the rental market is still reaching excellent rent returns.
The four bedroom homes have been renting between $570.00 to $650.00 per week.
Our rental returns have remained high because of our low vacancy rate of less than 2%.
The CSG and other industrial construction is attracting many jobs to Gladstone and the surrounding area, which in turn is generating a high demand for family homes.
Investors and Home Owners are also enjoying low interest rates over the past few months, with a further .25% reduction announced last week by the reserve bank.
The rental market is looking very sound in Gladstone at the moment, as these tenants are not all fly-in-fly-out workers but rather permanent employees from some of the larger Industrial companies.
Gladstone Housing Market is looking bright, with future plans for the Gladstone Port earmarked to be one of the busiest Ports in Australia.