Property market to stay strong in spite of floods
WITH severe weather and floods throughout the state, this year didn't get off to a good start.
But that should have no bearing on the property market in Rockhampton, according to Pat O'Driscoll sales consultant Leanne Fenech.
"The property market in Rockhampton is really strong and has been so for at least the past 12 months," she said.
"There is a lot of investor confidence in the region, so I don't believe the latest floods are going to make a big difference to the market."
Ms Fenech said unlike previous years, the Pat O'Driscoll office was very active during the Christmas break and during the floods.
"People still see Rockhampton as a property hotspot and that is not about to change any time soon, I don't think," she said.
"At the moment we have a number of big developments happening within the region, including three on the waterfront, which is a first for Rockhampton in so many years.
"So the feeling I'm getting from all the investors I've spoken to is the confidence is there and Rockhampton is set to remain a hotspot."
Ms Fenech's statements echoed predictions made in a report by Herron Todd White independent valuers earlier this year.
"As 2012 came to a close we note two major unit complexes (Empire in Rockhampton and Oshens in Yeppoon) are under construction, with significant pre-sales. Also the new Quest' Apartments Rockhampton) providing 88 rooms over 10 storeys in Rockhampton is currently under construction," it stated.
"As 2013 begins, two new additional unit complexes are being advertised Southbank in Rockhampton and Salt in Yeppoon. Both are reported to be achieving a good level of pre-sales to date.
"We anticipate 2013 will see the production of a significant number of units in the area with stable value levels in this market sector.
"The Rockhampton market's confidence is still clearly linked to the prospects of the coal industry and its traditional rural, health, education and service industries.
"If these industries can maintain their healthy 2013 outlook, this will flow on to the Rockhampton residential market."