Gladstone QLD - How is it Going????

Does anyone think we will see any capital gain over the next 1 - 2 years?

With all the new estates I am wondering if there will be any upward movement in prices!!

My property is in the Vantage estate if that helps...

Cheers,
James

Not sure if I would go as far as claiming that prices won't move or drop, but there's definitely signs around the place that things are cooling down here. I know a couple of coworkers who are still trying to sell their homes after being on the market for over a month, and another coworker managed to snag a 4 bedder for a price you'd expect to pay in Gracemere (in an established area, not one of the new estates)!

It probably doesn't help either with all the workers camps are now opening around Gladstone and Curtis Island, nor the job layoffs at QAL and Boyne Smelters.
 
Speaking to my pm and a few agents, there is defantly a plateau of rents and prices. They are actualy advising many wanting to sell to put tenants in till next year, looking at whats currently on the market my opinion is it might have come back slightly already?....Maybe things are slowing earlier than expected....
 
Same, recently renewed +$25 pw. News survey is out of date. Gladstone always has big ups and downs in rents and values, take a read back over this thread over the years. If you want short term slow and steady look elsewhere..but medium term Gladstone has done well
 
Thats some good feedback. I'm just about to settle on an IP in Glady and its good news that rents haven't gone backwards. Increasing rents would mean house prices should still be on the increase?
 
Can any of you guys with IP's in gladdy recommend a good property manager? Starting to get a bit sick of mine not calling/emailing back and being too slow on repairs.
 
Kirsty pike, we sell homes. I managed my ip myself here just easier for me but I have looked at a few and she went above the rest by far to find a tenant and always in contact with me. I had offers elsewhere only reason why I didn't use her. Hope it helps
 
Thanks Damobigred. Do u know wat her fees were? Just wondering if the current 8.5% I'm paying at the moment is pretty standard for Gladstone.
 
Yeah that's standard but it doesn't hurt too negotiate as they are getting a great deal on that 8.5% rate as rent prices are up there so I believe there is room to move. ( hence why I manage it my self and is easy as I am situated here in gladstone ATM )
 
And Qantas will have more direct flights to Sydney from Gladstone per week than they do from Rocky to Sydney.

Big times ahead for Gladstone. I think any comments regarding high vacancies etc. are a mere blip on the radar.
 
Has anyone had any problems with off the plan purchases in Gladstone recently?? We purchased a unit back in November 2010 with a completion date forecast for December 2012. Due to an increase in construction costs we have had to renegotiate an increased purchase price with a start date now forecast for October 2012. There's still no definite that they will start on this date and as this is our first OTP purchase we are lost on the best way to go!
 
i recently had my purchase get a 4k increase due to problems with ulda but it only took 9 months build time and came in 100k more than purchase on evaluation
 
Things seemed to have slowed a little over the last few months, but seem stable now with 1/3rd of the stock disappearing recently within a few weeks.

Overall I think it's just a blip with some recent projects delayed (some pending environment assessment, etc).

I'd actually look at this as a great time to buy with things a little quieter than normal.

Early 2013 I think things would take off once again.
 
Hi ems
Im in the same boat as you :( is it prime property ??
Well to tell you the truth im too far in to back out now, they have a good track record but gladstone is so manic these days they have struggled to get things started !!!! I think you should ride it out and stick with it ? Gladstone isnt a one trick pony/minning town and will be around for years n years :]

Hope this helps

Pete
 
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