86 Abbey Drive, Gracemere, three-bedrooms, one-bathroom, sold for $195,00 in August through Discover Real Estate. Picture: Discover Real Estate
86 Abbey Drive, Gracemere, three-bedrooms, one-bathroom, sold for $195,00 in August through Discover Real Estate. Picture: Discover Real Estate

Indicators showing Gracemere will boom

GIVE IT two years and Gracemere will be in the midst of a strong real estate rise says agent John Neumann.

In the last fortnight around 15 properties have sold in the Rockhampton region for under $280,000.

Mr Neumann, principal of Discover Real Estate, based in Gracemere, sold a three-bedroom home last month in Abbey Dr for $195,000.

 

Two-bedroom, one-bathroom home at 62 Burnett St, Berserker sold for $180,000 in September. Picture: McGrath
Two-bedroom, one-bathroom home at 62 Burnett St, Berserker sold for $180,000 in September. Picture: McGrath

 

 

He confidently believes this would be one of the last properties to sell for a cheap price in Gracemere.

"You won't see under $200,000 again for a three bedroom house particularly something built in the last 10 years," he said.

Last year's median price was $265,000 and it is now $262, 500 but Mr Neumann expects it to increase and not go any lower.

"All the indicators are we are loooking for an upwards in price," he said.

"It won't go down again, I think that's the last of those properties at that price."

 

58 Buzacott St, Park Avenue sold for $314,000 in August. The home has five-bedrooms and three-bathrooms. Picture: Pat O'Driscoll Real Estate
58 Buzacott St, Park Avenue sold for $314,000 in August. The home has five-bedrooms and three-bathrooms. Picture: Pat O'Driscoll Real Estate

 

Four bedroom homes are looking at prices of more than $250,000 and properties that are reasonably priced are being picked up quickly.

"We've come off a five year downturn and only just seen a stabilisation of the market, we haven't seen a rise yet," Mr Neumann said.

"As we move forward, that will happen."

This year so far, Mr Neumann has sold four properties over the $400,000 mark - compared to only two he sold in the whole of 2018.

 

A hall at 46 Westacott St in Marmor sold in August for $69,000. Picture: Discover Real Estate
A hall at 46 Westacott St in Marmor sold in August for $69,000. Picture: Discover Real Estate

 

 

The easy living and only one traffic light are an attraction for buyers to come to Gracemere.

"That's very positive, people are seeing Gracmere as a preferred destination," he said.

"It's close enough to have all the facities and generally new houses here.

"In terms of where the new houses are built we are an attrractive propositon."

The typical demographic buying in Gracemere is working families and the properties in the higher brackets tend to be those over 50.

 

 

Discover Real Estate principal John Neumann. Picture: Contributed
Discover Real Estate principal John Neumann. Picture: Contributed

 

"We have interstate buyers looking here.... yes we are cheap but the pontential is there," Mr Neumann said.

"Jobs are the thing, most people that come here are working families and one of the couples usually works in Rocky,"

Mr Neumann predicts it will be a "slow take up" to rise but it will happen in the next two years.

Another indicator leading towards this is that time on the market has reduced.

It is now an average of one month on the market, opposed to previously being three months.

Now the banks have lifted the high risk off Gracemere, more people are coming to the area as well.

"The interest rates are very low, it used to be 30 per cent deposit," he said.

Rental vacancy rates are also tightening as the market goes "gangbusters".

Mr Neumann said they are looking at a 10 per cent rent rise across properties with near zero rental vacancy rates.

"We have the newer style houses so they tend to be more active on the rental market," he said.

"I see positive things coming from Gracmere in the next couple of years."

 

134 Dee St, Koongal, with three-bedrooms and one-bathroom sold for for $212,500 in September. Picture: Pat O'Driscoll Real Estate
134 Dee St, Koongal, with three-bedrooms and one-bathroom sold for for $212,500 in September. Picture: Pat O'Driscoll Real Estate


TRAPPED: Crash victim files $3.5m lawsuit against insurer

premium_icon TRAPPED: Crash victim files $3.5m lawsuit against insurer

The CQ man sustained many extensive injuries

COURT: 48 people facing Rockhampton Magistrates Court today

premium_icon COURT: 48 people facing Rockhampton Magistrates Court today

See the full list of people in Rockhampton Magistrates Court today

MORNING REWIND: 5 top stories you may have missed

premium_icon MORNING REWIND: 5 top stories you may have missed

Catch up on the biggest headlines frim the last 24 hours.