Rocky rentals close to the mark
WHILE house rental prices in post boom town Gladstone have plummeted to well under $200 over the past 12 months, Rockhampton and the Capricorn Coast appear to have stabilised.
The median rent for a three bedroom house in Rockhampton for the December quarter was $260, down just $5 from 12 months ago, while the industrial hub of Gladstone has dropped from $270 to $170 in that same 12 month period.
The Capricorn Coast returned a December quarter figure of $280, down $30 from the 2015 number but still belying the recently reported 10% vacancy rate for the area (REIQ).
Rockhampton's rental vacancy rate for the quarter was 4.3% which is a steady improvement for the city after it had been above 6%.
Three bedroom median price over last two years
- Rockhampton: Dec 2014 $290, Dec 2015 $265, Dec 2016 $260
- Gladstone: Dec 2014 $320, Dec 2015 $270, Dec 2016 $170
- Mackay: Dec 2014 $310, Dec 2015 $270 , Dec 2016 $260
- Cap Coast: Dec 2014 $290, Dec 2015 $310, Dec 2016 $280
- Emerald: Dec 2014 $240, Dec 2015 $220, Dec 2016 $220
- Moranbah: Dec 2014 $300, Dec 2015 $250, Dec 2016 $240
Pat O'Driscoll Real Estate business development manager Tayla Greenalsh said it was close to where they wanted the rental market to sit.
"We want to be sitting near 4-5%. At the moment we have 93 listed available and currently under application,” Tayla said.
"We have had 41 signed off for February alone and have 19 under application.
"From Christmas we have really hit the ground running and a lot of families are moving in and out, so new leases are starting.
"People after furnished homes are popular with people moving into the region for work.
"The market is picking up, moving with more pace than what it has been which is good.”