Good as gold dirt is the new gold
GYMPIE has been named as one of Australia's “ready to surge” regional property hot spots, in a national industry publication, which puts us at the top of a list of only seven investment meccas across the nation.
The “Sold” signs are going up and everyone from developers to buyers seem to be happy to do real estate business in Gympie, with land as good as gold and profits available even at retail prices $100,000 less than even closely neighbouring areas.
National real estate commentator Terry Ryder lists Gympie, arguably the Cinderella of Queensland's often over-exploited real estate market, as one of only seven recommended hot spots, including the fashionable Utopia's of the increasingly renovated near-Sydney centre of Newcastle, the trendy Melbourne get-away destination of Mornington Peninsula, the waterfront near-Perth paradise of Bunbury and the hugely fashionable eastern shore Hobart suburbs of Howrah and Rokeby.
Mr Ryder, director of www.hotspotting.com.au, said economists had got it seriously wrong in predicting big real estate falls, especially in our part of the world.
GYMPIE real estate experts and investors yesterday told of massive success stories from Gympie real estate, with price increases continuing to defy world financial gloom.
Commercial real estate consultant Kev Verrills said major commercial interests, including existing investors like Harvey Norman, Hungry Jacks and Woolworths (at Centro), along with prospects like Bunnings and Woolworths (Southside) would not be interested if they did not see major short to medium term growth in the region.
Mr Verrills said Gympie land was going up 2.5 to 3.5 per cent a year and the city was now ringed with developing areas out to Curra and Widgee. “The Cooloola Coast is dynamic and all of it is catching up with prices at the Sunshine Coast,” he said.
“Go back three or four years and you could buy a block for under $80,000. Now it's $120,000 to $130,000, but go for a short drive to Eumundi and you'll pay $235,000.
“Real world, we are running out of industrial land and we need a lot of it. Highway work, including the by-pass will create a lot of employment too.”
Victory Heights developer Glynn Nielsen said he had experienced no trouble selling 18 properties in the past three weeks.
Entrepreneur Charlie Horne summed it up. “It's all good. We have a location that is close to everything and the market has a long way to go yet. From Brisbane - and who'd want to live there - we are the gateway to Queensland,” he said.