Rocky Real estate industry booms on back of Adani
ADANI is making waves in the Rockhampton real estate industry.
Doug Webber from Pat O'Driscoll Real Estate said staff had witnessed noticeable changes since this month's announcement that the city and Townsville were both FIFO hubs for the mining giant's Carmichael Mine.
"We are getting a lot more phone calls from people down south and also from last weekend I probably had one of the best sales weekends that I've ever had for one weekend," Mr Webber said.
"We've seen six sales on the one Saturday for myself but there was definitely a couple of investors there and they were all talking about Adani.
"From Saturday with those sales, it was probably 50/50. I probably had three to investors and three to people who were going to live in the homes themselves."
Mr Webber, who has lived in Rockhampton his whole life, said like any city, things went well on positive news.
"I think the other mining industries are picking up as well as the graziers who are having a good year," he said.
The price range for properties of interest had been vast.
"The investors are looking anywhere from as low as $200,000 up to $400,000 and then some personal homes that we have sold... between $600,000 to $850,000," Mr Webber said.
"With investors, they're trying to get in while the market is still where it is at."
The Rockhampton real estate agent said he had sold a lot of gable style homes.
"They're sort of around $200,000 and low block bricks have been going anywhere between $350,000 to $400,000 and they've also been selling very well," Mr Webber said.
He said he hoped his industry and retail would experience growth as a result of the Adani project.
"As long as we keep getting CQ on the map again... I think we'll see growth and I think we'll see a positivity back in the market," he said.
Rockhampton real estate business owner Jason Rayner said his eight staff had already received many email enquiries from southern buyers.
Investors from capital cities such as Brisbane, Sydney and Melbourne have made enquiries about buying property in CQ.
"There's probably 20% of my enquiries coming from New South Wales...most are coming from Queensland and 10% are Victorians on the investor fund," he said.
"They are all after bang for their buck. If they can buy a property that gives them up to 10% yields, that's what they want.
"They can still get property between $120,000 to $200,000 that are going to rent out for $250 a week. They seem to be the ones who feel a lot more buyer activity."
Mr Rayner said his company had also seen great interest from locals.
"We are feeling confidence gradually coming back to the Rockhampton real estate scene," he said.
Mr Rayner said the next 18 months would be an exciting period for Rockhampton.