How Rockhampton's property market performed in 2015
HERRON Todd White report:
As we look back at the performance of the Rockhampton region throughout 2015, it is worth noting that although as a whole the market has showed signs of weakening, with an increased number of mortgagee in possession sales occurring, there has still been some well performing market sectors.
The first one of note is our local prestige market, with a number of sales at price levels in excess of $700,000 occurring, with approximately half a dozen confirmed sales to date.
Another market sector that preformed well in 2015 was the new unit market with riverfront units in Empire and Southbank being well received in the market place.
On the Capricorn Coast, Salt, a beachfront unit development comprising a mixed residential and retail complex consisting of 50 residential units, is nearing completion (due December).
The development will also comprise ground floor retail tenancies and a conference facility.
This development has gone against the grain of the greater unit market on the Capricorn Coast over recent years and is considered to be a likely result of the unique, main beachfront position of the site.
At the other end of the scale, the market sector that has not proven to perform well throughout the year was our local entry level market sector (i.e. property under $250,000).