Gracemere gaining favour
SARAH and Ben Konemann struck real estate gold when they decided to build their home in Gracemere.
Not only did they find an affordable location, they are now living in one of the country’s hot spots for those areas of the fastest growth.
Sarah and Ben snapped up a package for $289,000 and their mortgage repayments were only about $20 more expensive when they bought in 2009 than the rent they were paying on their previous home at the Sunshine Coast.
Gracemere has outstripped the rest of the region with growth of new homes requiring new water connections this financial year.
Chairman of the council’s water committee Greg Belz said at the end of February, Gracemere’s new water connections totalled 202 – 45% of the new connections across the whole Rockhampton region so far this financial year.
“The completion before Christmas of $1.4 million worth of major new water mains projects for Gracemere has provided a significant boost for increased supply capacity for Gracemere to cater for this current growth and future water supply needs,” Cr Belz said.
Well-known local builder Scott Kilpatrick said regionally,
Gracemere was one of the country’s hot spots for the fastest-growth areas.
Mr Kilpatrick said 35 to 65% of their work was now in Gracemere, and about 60% of the building industry across the board was working from the growing town.
“With the shopping centre under construction and the Yeppen flood plain in the spotlight, there is a lot of enthusiasm in Gracemere,” Mr Kilpatrick.
He said Gracemere was being well received by investors for its affordability and there was a lot of potential for the area with the LNG work in Gladstone.
“It’s too expensive to live in Gladstone, so travelling a little further to Gracemere seems like a good option.”
Principal of Ray White Rockhampton, Mark Shore, recently sold a four-bedroom, low-set brick house for close to $449,000, to a young couple who made the move from Rocky to Gracemere.
“Gracemere real estate has a competitive edge over Rockhampton. You can get a similar quality home for a lesser price than Norman Gardens,” he said.
Median House Prices
Recent median house prices in Gracemere:
February 2011 – $340,000;
January 2011 – $313,000;
December 2010 – $335,000;
November 2010 – $335,000;
October 2010 – $320,800.
Source: RP Data