Well it was probably accurate a few weeks ago! Just out of date now.i
NO not accurate a few weeks ago... Gladstone hasn't gone backwards in the last month!
Very miss leading information that developers are still putting out!
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Well it was probably accurate a few weeks ago! Just out of date now.i
Queensland towns ratepayers, especially Gladstone, seem to have been ripped off with the cap on how much local council can charge developers to cover infrastructure costs. It makes the initial purchase price cheaper but long term higher rates only wear down capital gains so perhaps false economy. Mackay seems to have tried to charge only absent landlords with extra rates but is challenged in court. One argument I cannot seem to find is whether Federal Government should contribute, they facilitate migration numbers so local councils are left with no choice but to fall into debt when there is a "boom" and influx of workers. The system seems designed for sustainable growth, which never happens in regional towns.
I did read the state government is reviewing how councils can recover cost to cover infrastructure costs. Perhaps we need to make a noise and ensure that the costs of the boom are not unfairly charged upon local ratepayers. Certainly appears to be an uneven playing field to me. The benefits leave town but the expenses do not.
http://www.gladstoneobserver.com.au/news/decade-of-pain-for-ratepayers-flagged/2146088/
This is why rates are always lower in the city.
In Brisbane today looking around and meet an agent who said he was starting to sell new development (house and land packages) that are currently being discounted by around $60k in Gladstone due to market conditions. Going to be interesting to see if developers have to start dropping prices further.
Surly they would make more money else where.. I wish they would pack their bags!
So who wants to take a punt at how long it takes Gladstone to get around to recovery mode?
Given where things are at the moment, I'd guess another 2-3 years, assuming nothing extraordinary happens between now and then. And even when it does, there's already a lot of empty land left over from the boom that has just passed, so there's not exactly any shortage of land.
NO not accurate a few weeks ago... Gladstone hasn't gone backwards in the last month!
Very miss leading information that developers are still putting out!
Jenko, are you saying the crash had already started more than a few weeks ago? I think it has been slowly declining and my (facetious) remark was reference to that. But the recent announcements really underscore the decline in rents. Hence I am surprised by the ad you shared 17 January post.
I'm far from an expert, I admit but I'll chuck my hat in the ring anyway....I'd guess Gladstone is at 3 o'clock on the property clock.
So half past stuffed?I'm far from an expert, I admit but I'll chuck my hat in the ring anyway....
I'm guessing around 1630-1700hrs.