Rocky property market set for growth
ROCKHAMPTON’S property market has been largely unaffected by COVID-19 and has good growth prospects for home owners and buyers, according to a new report.
The December 2020 Top 5 Regional Hotspots 2020/21 by Ryder Property Research states that rising, but affordable homes and construction projects around town, have caused an influx of southerners to the Beef Capital.
The report listed the main infrastructure projects fuelling growth in region: the duplication of the Capricorn Highway between Gracemere and Rockhampton, the Rockhampton Northern Access Upgrade, the Rockhampton Ring Road, the Shoalwater Bay Remediation Project, the Australian Singapore Military Training Initiative, Rookwood Weir, and Clarke Creek Wind Farm.
“The Rockhampton property market offers good opportunities through affordability, supported by rising sales, increasing rents and low vacancies,” it said.
“The local economy is shored up by the resilience of the agriculture and resources sectors and further boosted by large infrastructure projects, all of which are creating jobs.”
Real estate analyst Terry Ryder said Queensland’s regional property market was the strongest it had been in over six years.
“When compiling the report, we identified 72 locations throughout Queensland with rising sales activity which is a remarkable result in the year of a global pandemic,” he said.
“There are seven regional cities with five or more suburbs with forward momentum in sales activity.
“The Sunshine Coast, the Gold Coast, Toowoomba, Mackay, Rockhampton, Gladstone and Townsville are all ones to watch.
“These cities, plus smaller regional centres like Gympie, Emerald, Warwick, Kingaroy and Dalby, all have markets trending in the right direction for sustained price growth.”