Beef Capital named one of QLD’s top 5 hotspots
ROCKHAMPTON has been named as one of Queensland’s top five regional hotspots for 2019.
The Beef Capital joins Mackay, Sunshine Coast, Townsville and Toowoomba for the prestigious title.
Residential property researcher Terry Ryder, who compiled the September 2019 to January 2020 report, said Rockhampton is joining the recovery underway in Central Queensland.
He reported confidence was returning to Rockhampton, which was evident by rising sales numbers, rising rents and low vacancies.
“It has appeal as an important regional city with a diverse economy, affordable real estate and high rental returns,” he reported.
“This is being enhanced through the transformation of the CBD, development incentives and concessions, along with upgrades totalling $1 billion to major transport routes.
“As the key service centre for the cattle industry of central Queensland, Rockhampton hosts regular Beef Australia expos and markets itself as ‘the Beef Capital of Australia’. Overall, Mr Ryder reported Rockhampton presented as an affordable market with very good growth prospects.
He reported Hotspotting’s Winter survey of sales activity found three suburbs worthy of being ranked in their “National Top 50 super-charged suburbs”: Beserker, Norman Gardens and Yeppoon.
Mr Ryder reported infrastructure projects like the Rookwood Weir, Shoalwater Bay training area, Clarke Creek wind farm, Capricornia Correctional Centre Expansion and the Rockhampton Ring Road, together with many smaller projects played a big part in Rockhampton’s returning confidence.
“The strong uplift in both the resources and agricultural sectors is also making a positive contribution to the region,” he reported.
Mr Ryder quotes property valuers Herron Todd White as reporting 2019 saw some improvement across the Rockhampton and surrounding residential markets.
“HTW says the rental market has improved with a significant decline in vacancy rates resulting in a slight increase in median rents across most sectors,” he reported.
“This observation is supported by the Real Estate Institution of Queensland which says Rockhampton vacancies are at their lowest point since 2012.”
He concluded his report by stating Rockhampton and Emerald had been named by real estate researcher Propertyology as two centres that will see a big improvement in the next three years.
“Several major infrastructure projects that had been waiting for funding or approval are now progressing, promising fresh opportunities and jobs,” he reported.
“According to demographer Bernard Salt, the Beef Capital is set to become one of the top 20 biggest cities in Australia by 2050.”