Gracemere, near Rockhampton

[Tigger]

I know Gracemere has been mentioned in threads re Rockhampton and also comparisons with Gladstone, so am adding this one, FYI.

I don't believe it.

http://www.themorningbulletin.com.au/news/property-boom-is-cooking/2214719/

 

[norwoodman]

I know Gracemere has been mentioned in threads re Rockhampton and also comparisons with Gladstone, so am adding this one, FYI.

I don't believe it.

http://www.themorningbulletin.com.au/news/property-boom-is-cooking/2214719/

Although the agent is probably hyping up the area and the article sounds exaggerated, there is some truth to his comments, particularly when you look at SQM Research (postcode 4702) and for listings on realestate.com.au.

SQM Research puts the vacancy rate at 5.5% in February, which is still quite high - but compared to the 11% it was at back in December that's a big turn around in rental uptake. Rental listings for Gracemere on realestate.com.au have dropped from almost 300 near the end of last year back to about 100.

The rental market in the rest of Rockhampton is also now tightening (now around 3%), but certainly not to where it was in 2011 and the rents are down a bit.

 

[Neil Richardson]

I read this in the paper today with some interest.

I (along with a lot of locals) am pinning a lot of hopes on the Gracemere Industrial Area. It is finally under construction and there is a lot of land available in years to come.

Gracemere is ideally positioned in relation to the mines so there is no reason why, in the long term, that we can't see a Paget (Mackay) type Industrial Precinct develop there.

Cheers

 

[daniel cunningh]

Rentals on the market at the end of last year were a bit over 300. That is down to 114 as of today.

I agree with Neil, the long term fundamentals are good. Markets flat at the moment so probably a good time to bag a bargain.

 

[Jenko]

Rentals on the market at the end of last year were a bit over 300. That is down to 114 as of today.

I agree with Neil, the long term fundamentals are good. Markets flat at the moment so probably a good time to bag a bargain.

The Rocky market has been flat for sometime now the house I bought in the city last year I bought for $5k more then the pervious owner did 7 years before. Something has got to happen soon.

 

[daniel cunningh]

Jenko,

Thats what i'm hoping as well. Bought my first place up there 8 or 9 years ago and value increased from 180 - 300k in the first 2 or 3 years but has been flat since. Hopfully when the Industrial precinct etc is finished we'll see some growth. Not overly concerned as property is positively geared but fingers crossed for the next 2 or 3 years!

 

[Jenko]

I'm hearing you Daniel, lets just hope the area doesn't get flooded with H&L packages agin.