CQ residents are cashing in on cheap rentals to get ahead
THE abundance of properties on the CQ rental market over recent months has helped Mackayla Williams cash in on a great value rental on Capricorn Coast.
Ms Williams, 21, who works as a bartender and recently secured employment in the mines, said the four-bedroom property at The Pines she's rented for the past four months was a bargain at $350 per week.
She said while it was easy for her to snap up a quality rental a couple of months ago, it's not as easy as it used to be for prospective renters.
"There's not much out there, I've had friends that are looking, there's not much as there are so many out there renting,” Ms Williams said.
"I know out at the Pines is so popular and people are moving in and out of there all the time.”
With the cost for renting so low, Ms Williams said it's easier to save money and she was looking at purchasing a property in the next two or three years.
"I probably want to look into getting my own place because the rental prices and house prices are so good at the moment,” Ms Williams said.
"I could almost buy a house and pay it off for the amount as you would a rental.”
Principal of LJ Hooker Yeppoon Barry Vale said the drop in rental vacancies was fantastic for everyone, not just people with vacant rentals.
"It's not just the rental market that is moving, sales are definitely on the move also,” Mr Vale said.
"I've probably had my best couple of months in five years, so we're pretty positive about the real estate market.
Mr Vale said the recovery was very apparent talking with new businesses in Yeppoon who were doing well and he put it down to people not only encouraged by the Adani FIFO decision but also the lure of living on the coast and the work done by the Livingstone Shire Council to improve the infrastructure in the region.
From Livingstone Shire Council's perspective the latest rental vacancy figures for Livingstone are a great indicator that the rental market is performing well across the Capricorn Coast Region in comparison to REIQ's statistics from June.
Mayor Bill Ludwig said this is a very positive sign for Livingstone Shire, indicating a steady turnaround in this sector over the past quarter which will in turn create a positive flow-on effect that benefits the entire community and local economy.
"While it's probably too early to see any direct benefits from the recent Adani announcement, a lot of major investment decisions rely on a level of confidence so it is likely that announcements will contribute to overall levels of business and investment confidence in the long term future of the region,” Cr Ludwig said.
"Other contributing factors in that confidence building are likely to have included council's pro-active partnerships with the State and Federal Governments in delivering the Yeppoon and Emu Park Foreshore Revitalisations including the Lagoon Precinct, along with a raft of other significant projects. There has also been plenty of interest in sales, particularly in vacant blocks, which is also very encouraging,” Cr Ludwig said.
Cr Graham Scott, who is also the chairman of the peak regional development body Capricorn Enterprise, said Livingstone has been maintaining a lower but steady population increase during the recent slower economic times.
"Over the past year or so builders and developers have recognised and responded to the slow-down by adjusting their development activities to reduce the potential for land and housing oversupply situations developing. Given the positive outlook we are now seeing it is quite likely that we will see a return to more normal development levels now that supply and demand are better aligned,” Cr Scott said.
Rockhampton Mayor Margaret Strelow also welcomed the news of the improvement to the rental market. "It's too early for the Adani announcement to have had a bearing on our vacancies,” Cr Strelow said.
"We are aware that the market has tightened and we see that attributed more to the Bowen Basin roaring back to life.”