Business

Jobs to drive housing sector

GYMPIE has been a buyers' market in the real estate sector for the past few years but the region could be poised to turn the corner.

With the $35 million Bunnings store set to open this week and pre-feasibility studies looking promising for a new coal mine at Tiaro, hundreds of anticipated jobs are expected to drive the housing sector.

Raine and Horne real estate agent Charmaine Eastgate said the long-term vision for Gympie was blossoming, especially when a big retailer like Bunnings had cemented its future there.

"For them to come and put their dollars in town, I think it's a sign, an indication of the period we're about to enter," she said.

"And once the operation of the mine begins and development starts to flow, the horizon is looking really good for Gympie.

"There's talk of other mining ventures, too but they are not confirmed."

The Real Estate Institute of Queensland's Market Monitor report, due out today, lists 107 house sales in the Gympie council area in the June quarter with a $256,000 median price, which equates to a 2.4% increase from the first three months of the year but a 1.9% change year on year.

The guide, drawn from RP Data figures, shows 97 acreage properties, more than 2400m2, sold with a $336,000 median price which represents a 7.7% increase from the previous quarter but just a slight increase when comparing the previous 12 months.

Gympie itself had the 44 house sales with Southside next with 26, with significantly different median prices at $220,000 and $336,000.

In the Mary Valley, where the government is trying to sell off properties sold for the failed Traveston Dam, towns such as Carters Ridge and Kandanga had seven and five sales, respectively.

Ms Eastgate said prices were well below the strong activity in 2007-08 but she expected to see them on the rise in coming seasons.

"I don't think it's going to be overnight - it's going to take a steady incline," she said.

Gympie Times

Topics:  business, housing, jobs, real estate




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The improvement would be mild when compared to past cycles