Smaller mortgage without the sacrifices: Report's findings
PROSPECTIVE homeowners are looking to Gladstone to downsize their mortgage without compromising on quality, a new report has found.
The latest Herron Todd White monthly report has identified the types of people who are looking to buy homes in Gladstone as the market continues to recover from the downturn of construction work at Curtis Island.
It said increases in demand for Gladstone properties had come from out-of-town buyers, lured by the prospect of a cheaper mortgage without compromising on features.
"We have seen a marked increase in demand for executive-style large four-bedroom homes on larger lots and typically with pools or sheds," it said.
Locations Estate Agents principal and REIQ Gladstone zone chair Alicia Williams said the report echoed what the agency had seen recently.
She said people were becoming more confident in buying in Gladstone.
"We have had investors locally and interstate get back into the market, which is no surprise because we have had continuation on good data, with vacancy rates increasing and rental yields increasing," Ms Williams said
Recent sales of interest include 24 Boyne Cres - three-bed, two-bath - which sold for $249,500 and the four-bed, two-bath 27 Cavella Dr, which sold for $335,000.
Ms Williams said there was also an increase in people upsizing while the prices were affordable.
She said some properties offered a financial return of between 5-6 per cent.
"Some people will always approach with caution but there will always be buyers who are willing to get involved, purely because they can see that return," she said.