Why Gympie property is defying the national trend
CONCERNS about interest rates and who is running the country are "just static” and should not distract us from Gympie's new status as a real estate gold mine.
That is the view of nationally prominent property expert Terry Ryder.
Mr Ryder says Gympie region has popped up on his radar as a "hot spot” for property investment, with affordable prices now and plenty of room for capital gain in the future.
Not only are property prices here defying the claimed downward trend nationally, but they are doing so because there is "something special happening in the local economy”.
He urged Gympie to reinvent itself, as he said had been successfully achieved in Geelong, Wollongong, Newcastle, Cairns, Warragul and, much closer to home, the Sunshine Coast.
A Maleny resident, Mr Ryder had once advised people against investing in the Sunshine Coast when "nothing was happening”. But then, some years ago, a new era of economic diversity caused him to reassess.
Now, big infrastructure investments which would also benefit Gympie included ongoing university expansion and the airport upgrade.
Gympie was also poised to reinvent itself in the same way, and to receive a boost from soaring property values to the near south, including areas like Doonan, Eumundi and Noosa.
Gympie's story now included a $1.7billion highway upgrade, a $2billion solar farm, good rental yields and affordability relative to the Sunshine Coast. This all came with a pre-existing diverse economy founded in manufacturing, agriculture, tourism and resources.
"I don't recommend areas with one industry, like mining or tourist towns, because they are overly dependent on one sector,” Mr Ryder said.
Gympie house prices were around half those of Sunshine Coast suburbs, there was still potential for buyers on a budget, rental yields were high and vacancies low, he said.