News

'Realistic pricing': Gladstone property bouncing back

Kirkwood for Real Estate, October 13, 2016.
Kirkwood for Real Estate, October 13, 2016. Mike Richards GLA

FOR the first time this year Gladstone's property market is showing signs that it's getting its mojo back.

Although property valuation experts Herron Todd White still say the market is yet to hit the bottom, in a big change, the volume of house sales increased.

TODAY | Behind the scenes plan for Gladstone's fourth LNG plant

An oversupply of property is still affecting the market and the demand for new houses remains "soft" but in its latest monthly review Herron Todd White said it didn't matter which "market sector you pick, most have had increased sales".

The property gurus put this change in the market down to the fact that prices haven't been as low as they are "in over a decade".

"The most active market sector is the sub $250,000 sector...purchasers in this price bracket comprise mostly owner occupiers, many of whom are first home buyers," the report said.

>> Three reasons why market confidence is returning to Gladstone

>> Retired couple snaps up $870k mansion at auction

"The established suburbs of New Auckland, Clinton, South and West Gladstone are where most activity is occurring.

"Pricing and buyer feedback on these properties suggests that the prestige market has finally caught up with the rest of the market and is now at a more realistic pricing level," it said.

It would seem that buyers are finally cottoning that with such low property prices, now really is the time to buy.

But interestingly the report also found that investors were starting to re-enter the market.

"There has been a new wave of sales for standard four bedroom, two bathroom homes in modern estates selling for sub $300,000 however most of the stock is priced above this," the report said.

"There have been a number of 1980s and 1990s two bedroom townhouses sold in and around the central suburbs of South and West Gladstone."

The rental vacancy trend remains steady while the trend in new house construction was declining.

Although Herron Todd White found that first home buyers were getting into the game, which was helping to boost sales, Real Estate Institute Queensland CEO Antonia Mercorella said the first home owner's grant was failing to help regional Queensland.

The state government recently increased the grant from $15,000 to $20,000 but it is only available for new homes.

"These (regional) markets have a surplus of housing, established homes, and there is no need to build more housing - but to qualify for the Government's grant home owners are forced to build," Ms Mercorella said.

"In regional Queensland, it's like handing a drowning man a glass of water."

Ms Mercorella suggested broadening the first home owner's grant to include established homes.

Topics:  gladstone property market real estate



Foodies' scavenger hunt: are you up for it?

IF YOU want to give your tastebuds the flavour sensations of a lifetime, here is the ultimate foodie’s scavenger hunt through Brisbane.

5 minutes with Israel Folau on footy, life and love

Israel Folau and Silver Fern netballer Maria Tutaia announced their engagement last last year.

WE CAUGHT up with football star and Brisbane ex-pat Israel Folau.

10 reasons to head to South Bank this summer

Head to the only inner-city beach in Australia!

South Bank has a ridiculous amount of fun things to do.

Five mammoth events you need in your life

No Caption

BRISBANE isn’t known for doing things by halves…

How to make your child's every dream come true...

Take a dip at South Bank in the inner-city beach.

‘I DON’T want to do fun things, Mum and Dad’… said no child ever!

How to do Eat Street the right way

Know where to start and where to end to avoid a huge food coma before you get to experience all the goodies!

EVERY Friday and Saturday night, Hamilton comes alive.

You can do WHAT in Brisbane?!

Talk about arriving in style! Take your pub crawl to the next level with a helicopter!

BET you didn't know you could do these things in Brisbane...

Back-to-school price story strikes a nerve

CHECK THE RECEIPT: Cindy Bogan with her children Oshie,Seamus and Harry.

Family counts the cost after Facebook post goes viral

Dog attack proves costly in more ways than one

A man has spent more than $5000 after his dogs killed four chickens.

A man has spent more than $5000 after his dogs killed four chickens.

Excellent start to tertiary studies for Gympie High students

GREAT START: 2016 Gympie State High graduates Jamie-Lee Griffiths (left) and Alex Lobegeier (below) start their tertiary studies this year at the top of the state after being awarded prestigious QUT scholarships.

Prestigious scholarships for two 2016 graduates

Local Partners

Back-to-school price story strikes a nerve

MUM of four Cindy Bogan wasn't expecting her Facebook post about the high cost of school stationery to reach such a big audience.


Six months of fun planned for G150 celebrations

STAR POWER: Shannon Noll will perform next week at the official G150 launch and free concert.

Here's the first six months of Gympie's year long party

Garage sales: Where to find a bargain this weekend

Some vintage clothes on sale at 39 Robeck Road, Gatton for the 2016 Garage Sale Trail.

Check out our guide of weekend garage sales

EXCLUSIVE: The Amity Affliction's overdue homecoming

BACK IN TOWN: THe Amity Affliction play the Gympie Civic Centre on Friday night.

After 10 years away from Gympie, the local legends are back.

Buckley's chance in psychological thriller

James McAvoy and Betty Buckley in a scene from the movie Split.

Broadway veteran back on big screen with James McAvoy

Daniel MacPherson: acting’s a bit like channel surfing

Australian actor Daniel MacPherson in a scene from the American TV series APB.

THE Aussie export talks about making his mark in the US.

Shopping isn't fun if you can see dead people

Lisa Marie Woodham will be giving readings in Gladstone until Saturday January 21.

Shopping isn't fun if you can see dead people

Buderim man strips off for speed dating with a twist

RAW AMBITION: Buderim local Jackson pictured with his blind date Candice in a scene from SBS's new dating show Undressed.

People have done stranger things for love

Sports gods answer your summer prayers with this line-up

The Brisbane Roar are on track for an entertaining season.

SO MUCH live action is happening in Brisbane this summer!

Matthew McConaughey wrongly used as medical example

Doctor tried to steal credit for McConaughey's hair treatment

By the water's edge

Secure your seachange

Gympie attracts buyers looking for affordable seachange

Core Logic property statistics reveal the region's median house price dropped 3.4% to $269,000 in the September quarter.

Median house price drops 3.4% to $269,000 in the September quarter

HOT PROPERTY: Money to spend on land, buildings

File picture.

Sale, leasing of industrial real estate picks up in Mackay

Collapsed Coast company could owe up to $5 million

Staff, ATO, landlords among those out of pocket.

Ready to SELL your property?

Post Your Ad Here!