QLD Gladstone warming up

What happened to the fish

 

Havent heard any updates on the ammonia project .
Major Projects – Gladstone Regional Council

Don’t think there’s going to be any major change in rental rates for now.

 

I am in the same boat unfortunately, bought towards the top of the boom, paid 395k and my estimate would be worth 250k. I did some renovations and rented the place out back in 2016. I’m currently getting 230/week and have great tenants. I’ve had 3 lots of tenants, all have been great, and every time it’s been advertised I have had quite a lot of interest. One tenant even offering to pay more then advertised to try and secure it, however she wanted shorter duration.

My fiancé and I recently bought our PPOR (in the region) and I can say that quality properties priced well were not lasting long on the market at all

 

Gladstone and just about every other QLD and WA town that was smashed in the downturn has been in recovery mode for at least a year , some more like 3 years
It will.be interesting to see where the new medians will sit for towns like Gladstone in the coming years and to see wether they are sustainable.
I think a median of 350-400 k is very sustainable these days (given the credit environment) in any town with a decent economy - obviously this wasnt the case before the bust
I also dont think a boom will.be required to get to these prices , just steady growth

In many ways the worst thing for these towns is the mega projects that attract mass development for a new workforce that was always going to be temporary in their residency

I say all this ignoring the effects of corona virus as if it is as bad as some think it will be then no market, city or regional will be spared

 

I’m in Rockhampton and I can say that Gladstone has taken a turn so what, but I wouldn’t be committing anytime soon. There have been many properties selling below their peak back in the boom.. There is still some way to go until the peak prices are reached which does make for a bit of a gamble. In terms of the future here a hospital just got approved, and the state gov has just conducted more land releases around the area for mining opportunities and many of them will have to use the port in Gladstone.

 

Dang- whats warming up are the council rates. holy moly. I better see some gold plated footpaths past my house pretty soon

 

Of course Gladstone is warming up - spring is coming ... and then summer.

 

can you give an example of rates on a freestanding house these days?

 

Why wait until prices get back to their peak?

That was the level where everyone lost money.

 

$3750 for a 4 bedroom on a 700 Sqm block.

 

On a different note.This has now been approved .Work commences in a couple of years.
Port of Gladstone Gatcombe and Golding Cutting Channel Duplication Project

 

Hi. Rates and water for a $200k house are $3,180 which is 32% of the rent.
Rates for a modern unit worth about the same are $2,350, which is 21% of the rent.

 

Decent rent rises happening the last 6 months. My 3 bed house jumped from $195 p/w - $240 p/w 6 months ago and now re-signed for $270 p/w.
Sell prices slowly looking like they are starting to follow the rent prices in the upward direction. Been a long time between drinks thats for sure

 

My 2/1/1 unit's rent went from 380pw down to 120pw, currently at 170 & RE agent also suggests I'll be looking at 220pw now. Planned to sell & take a big loss in 2021, but yes this may be positive recovery signs & worth painfully holding a bit longer

 

Who is everyone using and recommending for property manager in Gladstone ?

 

Property prices and rents have come off their bottom. Still along way behind but it has picked up over the past 6 months

 

I use locations. They are slightly more expensive but seem to have a very high functioning office...

 

Thanks, was tossing up between them, PRD & Elders with PRD being most expensive but preferred at this stage...

 

lJ hooker

 

We have been with Ray White for a few years and have been happy with them