QLD Rockhampton Market

Creating this thread for those interested in this market investors and owner occupiers.

 

Very low vacancy rates almost at unprecedented levels in Rockhampton.

"Slim pickings" for Queensland rentals

 

I think rocky is about to have a good run. Low vacancy rates and increasing rent return plus less stock on the market equals price rises.

 

There is a lot of Intra-state migration to Rockhampton and neighbouring towns because of the new and on-going job opportunities. New stock has been slow with development only occurring on the Northern Corridor, it will be interesting how prices will move. Whats happening on the ground from what I’m hearing is a lot of traffic/groups at open homes. Multiple bidders means good market depth and that vendors aren’t discounting their homes and they are getting their asking price or in the vicinity of 1-2% of it. All positive signs the market is going to move in a positive direction.

 

@Troysonbassaniproperty, you are starting to sound like a REA?

Are you one?

 

Nah I’m not a REA but I have lunch and good friends with many here in Rocky and get all the latest Market goss. Is there an issue?

 

No, I thought this might have been you:

Troyson Bassani
Managing Director
Bassini Property Group Pty Ltd​

 

That’s me Development and Investment Firm don’t sell any real estate.

 

Vacancies are definitely looking very good.
Do I wish I had not bought two properties in Rocky 8 years ago? Yes, but perhaps it will be their moment to shine very soon. It has been quite a while between booms there and the fundamentals do look good (finally).

 

I made a purchase a few months ago in Rocky at in current market looks like a good price, from the people I know there and talked too there was a trend of rents being increased each renewal, average properties having multiple enquires in first days listed for rent and leased quickly, hopefully this pays off

 

Recently started researching Rockhampton market, as my brother has just secured a job there. He will most likely rent short term. Might get him to look at short term rent options at Uni Lodge complex in Koongal, for rental cost seems pretty decent with facilities and convenience of being furnished to boot while he gets to know the workplace and the area.

But given rental vacancy and yields, if job is a good fit I think he will want to to buy a house in the near future.

Will be looking at various options, including Yepoon (downside is commute, but beach side living looks nice). Possibly options with larger land but reasonably short drive to Rockhampton central - Gracemere, Parkhurst, Glenlee or Rockview.

Or perhaps something a bit more suburban but more convenient to centre of Rocky - Norman Gardens, Frenchville or The Range.

Frenchville:
Hoping someone can give some insights into Frenchville suburb. It seems to me that really cheap houses at the side of Frenchville closer to the large Stockland shopping centre or smaller Frenchville shops precinct. More expensive closer to Mt Archer End.

Is there a reason for this? Mt Archer end more elevated perhaps? Overall quality of housing stock (although looks like side closer to Stockland has some more vintage housing stock which could come up a treat with some future renos).

 

Why exactly is Rocky a good area? Its a large city in North QLD but I can't see any reason or developments that will kick along prices. At least its not a town entirely supposed by mining like Gladstone, but I would not buy there.

 

High demand, more growth forecast for CQ market

 

A rising tides lifts all boats , or has in the past . Lots of forumites have done well there in the past .

interesting that you mention Gladstone . We looked at Gladstone at the same time and decided it was a no go , simply due to the demand required during the construction phase of various projects , but minimal demand going forwards .

Haven’t looked at Rocky closely recently but have in the past .

Rocky , The next Big Thing ??

cliff

 

Can’t access this mate. Can you cut and paste or give us a summary? Thanks

 

Basically the article went on to say that Herron Todd White is seeing all of the key data trending it the right direction in Rockhampton, Gladstone and Emerald. Vendor discounting very low, days on market very low, stock on market very low, vacancy rates very low, job advertisements very high, 3-5% over asking prices with multiple bidders, 40-50 rental applications for every property listed, pipeline new stock very low, infrastructure projects. They are saying that there is going to be a huge demand/supply imbalance in the coming months/years and this could create house price pressure driving up prices and rents.

 

Thanks! 10-20% would be real nice.