News

'Realistic pricing': Gladstone property bouncing back

Kirkwood for Real Estate, October 13, 2016.
Kirkwood for Real Estate, October 13, 2016. Mike Richards GLA

FOR the first time this year Gladstone's property market is showing signs that it's getting its mojo back.

Although property valuation experts Herron Todd White still say the market is yet to hit the bottom, in a big change, the volume of house sales increased.

TODAY | Behind the scenes plan for Gladstone's fourth LNG plant

An oversupply of property is still affecting the market and the demand for new houses remains "soft" but in its latest monthly review Herron Todd White said it didn't matter which "market sector you pick, most have had increased sales".

The property gurus put this change in the market down to the fact that prices haven't been as low as they are "in over a decade".

"The most active market sector is the sub $250,000 sector...purchasers in this price bracket comprise mostly owner occupiers, many of whom are first home buyers," the report said.

>> Three reasons why market confidence is returning to Gladstone

>> Retired couple snaps up $870k mansion at auction

"The established suburbs of New Auckland, Clinton, South and West Gladstone are where most activity is occurring.

"Pricing and buyer feedback on these properties suggests that the prestige market has finally caught up with the rest of the market and is now at a more realistic pricing level," it said.

It would seem that buyers are finally cottoning that with such low property prices, now really is the time to buy.

But interestingly the report also found that investors were starting to re-enter the market.

"There has been a new wave of sales for standard four bedroom, two bathroom homes in modern estates selling for sub $300,000 however most of the stock is priced above this," the report said.

"There have been a number of 1980s and 1990s two bedroom townhouses sold in and around the central suburbs of South and West Gladstone."

The rental vacancy trend remains steady while the trend in new house construction was declining.

Although Herron Todd White found that first home buyers were getting into the game, which was helping to boost sales, Real Estate Institute Queensland CEO Antonia Mercorella said the first home owner's grant was failing to help regional Queensland.

The state government recently increased the grant from $15,000 to $20,000 but it is only available for new homes.

"These (regional) markets have a surplus of housing, established homes, and there is no need to build more housing - but to qualify for the Government's grant home owners are forced to build," Ms Mercorella said.

"In regional Queensland, it's like handing a drowning man a glass of water."

Ms Mercorella suggested broadening the first home owner's grant to include established homes.

Topics:  gladstone property market real estate


Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Lockyer Valley Garden Competition now in season

BLOOMIN' GOOD: Wayne and Val Lawson in their Grand Champion garden of the 2016 Lockyer Valley Garden Competition.

Entries for the 2017 competition close on Friday.

What went on Up the Creek last weekend

Sienna, 6, Kelby, Izac, 8, and Claire Miller all got well into the festival spirit of the Mount Sylvia State School's inaugural Up The Creek festival.

Spot yourself in our gallery of pictures from the event.

Growcom shines light on updates to horticulture code

POTATO PICKERS: File photo of a Queensland potato farm. Mr Bishop believes the new code will clamp down on dodgy business practices in the horticultural industry.

One Upper Tenthill farmer said the changes will be "good for all”.

Local Partners

WATCH: Dramatic footage of teen arrest on Warrego Hwy

A TEENAGE boy was under the influence of drugs when he tried to flee police and sparked a pursuit on the Warrego Hwy yesterday, police will allege.

Jemma's bewitching voice

STAGE PRESENCE: Suzie Mathers and Jemma Rix in a scene from Wicked The Musical.

Wicked musical theatre star Jemma Rix has released her debut album.

This laughter yoga video will have you in fits of giggles

BEST MEDICINE: Karen Flannery is spreading happiness through laughter throughout Hervey Bay.

New members needed for a laughing good time

Dancers show off skills at Toowoomba Eisteddfod

Milla Rowbotham and Rebecca Gill from All Star Dance Academy .Toowoomba Eisteddfod, Empire Theatre. August 2017

Poems and dances dominated the 72nd City of Toowoomba Eisteddfod

Taylor Swift wipes presence off social media

TAYLOR Swift has completely disappeared off social media — and her fans don’t know what to think.

Swedish TV drama turns up heat

Louise Nyvall stars in the Swedish TV series Farang.

Scandinavian crime thriller goes troppo

Aboriginal artists' call to action

Anwar Young, winner of this year's overall prize and last year's young artist prize.

Important messages of survival and healing

Radio host Matt Okine leaps to small screen

Valene Kane, Matt Okine and Harriet Dyer star in the TV series The Other Guy.

First foray into acting a long time in the making

Hollywood’s new highest paid actress

Jennifer Lawrence had to settle for third this year behind Emma Stone and Jennifer Aniston.

CAN you guess who has dethroned Jennifer Lawrence?

Movie trailer dubbed too racy for TV

Alicia Vikander stars in Tulip Fever.

THE trailer for Tulip Fever is so saucy some networks have banned it

Liz Hurley, 52, has never looked better

She’s definitely not shy to pose in a bikini.

Life in your 50s has never looked as good as it does on Liz Hurley.

EXPLAINED: What the 'Costco effect' means for Ipswich

PRICE WARS: A Costco store similar to this one in Canberra, is planned for Ipswich.

Exclusive 'cult' about to change how families do grocery shopping

4800 homes to be built in massive new Coast estate

Masterplanned community full steam ahead - it's not Caloundra South

Open for inspection homes August 17 - 23

Check out this weekend's homes open for inspection.

Airbnb, Stayz and co tipped to squeeze Coast housing market

HOLIDAY BOOM: Airbnb letting is putting a further squeeze on long-term rentals.

Councils exploring options to manage the industry

How we got a rental straight away on the Coast

Rita and David Allara, moved down from Townsville, paid three months up front rent to secure the place at flash new unit block in Kings Beach.

Genius move helps secure rental property

Ready to SELL your property?

Post Your Ad Here!