Noel Livingston, REIQ Rockhampton Zone chair.
Noel Livingston, REIQ Rockhampton Zone chair.

Property ladder set to improve in Rockhampton

IT'S not a boom by any means, but Noel Livingston is confident the Rockhampton region property market has turned a corner.

His positive outlook for the region's future comes after the latest Real Estate Institute of Queensland (REIQ) figures were released for March.

The figures reveal 1413 houses sold in the Rockhampton region (taking in Livingstone) for the year ending March 2015.

There were 245 units or townhouses also sold in the same time period.

With median house prices of $305,657 and $420,147 for Rockhampton and Livingstone respectively, the region's market outperformed both Mackay and Gladstone.

Mr Livingston, REIQ Rockhampton Zone chair, said the March quarter showed a 2% increase in median sale prices for Rockhampton region houses.

This followed an overall 4.3% decrease over the year.

"While it's not a major increase, it is an increase and to me that's very positive," Mr Livingston said.

"The outlook is quite positive.

"I think without predicting any boom environment, we're in for a period of positive growth, slowly but surely."

Mr Livingston said prices around the region had reached an "attractive level", with competition among those at the lower end of the market.

He said the number of units sold varied greatly each quarter following apartment developments, but was positive overall.

House sales:

Rockhampton: 965, median price $305,657

Livingstone: 448, median price $420,147

Gladstone: 767, median price $381,942

Mackay: 1083, median price $389,952

Unit sales:

Rockhampton: 117, median price $284,456

Livingstone: 128, median price $322,849

Gladstone: 104, median price $316,700

Mackay: 193, median price $290,638

Source: REIQ



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