Taking advantage of Gladstone's property boom
THE Gladstone boom has seen immense changes over the past year - especially in property.
Along with the influx of new arrivals has come an influx of housing, so what does this mean for property investors?
Gladstone home-owners Trevor and Hollie Hall are leasing their investment property with Bechtel.
The couple built their property about 18 months ago.
Both born and bred in Gladstone, the couple said at the time they were building and looking at options, Bechtel agreed to take on the lease as soon as construction was completed.
"This meant we didn't have any of the worries about it being vacant or not receiving rent for it," Mrs Hall said.
When asked if they believed this was a more secure option Mrs Hall said: "For us, it's worked well and we've been lucky to secure long-term leases."
Mrs Hall said they are happy with the return on the property and she believed Gladstone was the best place to invest in Queensland at present.
The couple's new investment home is located close to schools and shops.
"It's in a decent area so hopefully even when the market does die down a bit, it will still be in demand," Mrs Hall said.
She said it is a real possibility the influx of people moving to Gladstone would die off.
"But I don't think we'll have to worry about that for awhile yet."
It's in a decent area so hopefully even when the market does die down a bit, it will still be in demand
Gladstone Re/Max Gold property manager Cyndi Ward said the agency had a lot of rental applications from out of town people.
"But the town and investors have worked hard to meet the demand of investors," she said.
"In my opinion, since about May and June last year, while the amount of people coming to town has been strong, we have had more supply available to them.
"Whereas prior to that it was having an impact on renters negatively."
But is the current influx of housing positive or negative?
"I guess it depends on which side of the fence you are on," Ms Ward answered.
"The whole market is balanced by supply and demand.
"The market is now able to keep up with demand."
For property investors Ms Ward said this could be tricky.
"It depends on the amount of people coming to town over the next period of time. Investors need to research the market to see what the demand is likely to be."
From a home-owner's perspective, Ms Ward said if the market did offer more competition, the best thing an owner could do is make their property more attractive.
"The air-conditioned properties do rent quicker," she said.
According to Australian Property Monitors, the highest price paid for a Gladstone house or unit in the past 12 months was $1,550,000. The lowest was $97,000.
In comparison, the highest price paid for a Rockhampton house or unit was $1,400,000 and the lowest was $80,000.