QLD Rockhampton/Yeppoon

Hi everyone,

I've been stalking some old threads regarding the market in Rockhampton, however most of them are dated back in 2017. Any Rocky investors our there who can give a bit of an update as to how things are going?

Background - my partner and I are moving to Rocky for a couple of years and we love a good buy/reno/rent however keen to hear where current investors the market is at to help with our decision making.

Thanks!

 

Rocky should do ok over the next few years; not all of the refugees from NSW and VIC can afford to settle on the QLD Coast.

Avoid the flood prone areas (there are plenty in Rocky) and perhaps buy an old queenslander with a bit of character.

Either way...if you're going to be in Rocky for a couple of years...you're better off buying, adding value and paying off your own mortgage and renting it when you leave...than paying someone else's mortgage (renting).

 

We've done it a few times before and it's worked out well for us we love a good reno. Queenslanders have always been our prime targets, it just seems hard to locate them outside the flood zone in Rocky!

 

SQM Free Data is showing some upward movement in asking prices across and declining stock levels across Rocky over the previous 12 months.

So Rocky appears to be heading in the right direction.

And as Rocky's more expensive coastal counterpart (Yepoon) becomes even more expensive over the next few years...which it will...stronger price growth should ripple out to Rocky too.

 

We'll have a look at Yeppoon too. Seems you can get a cute little beach shack for circa $300k which seems like good value. Now just needs Agnes Water to catch up per your posts on the other forum! Looking to potentially sell a small acreage down there...

 

I know Rocky comparatively well and thus I agree: there are plenty of Queenslanders but most are situated in flood prone areas unfortunately.

Enjoy the challenge!

 

Where is your acreage in Agnes?

Cove, Ranches or Captain Creek?

 

Bicentennial Drive

 

Bicentennial is prime acreage in Agnes: there's been solid price growth in that area over the last 6-9 months...but I wouldn't be selling this year...unless you really have to...prices of prime acreage in Agnes will be considerably higher next year.

 

It's all happening in Rocky - albeit after an awfully long hiatus! The rental market has been the tightest in decades. Local economy is booming and rents are going up - new leases drawn up YoY are up c15% in rents for the prop I have seen. I have an offer on a block of units and believe this is prime to take off from here.

The activity and the sentiment is the best since pre gfc days - just pick the phone up and chat to the agents across various agencies and they would all tell you how robust the economy is there now.

I would say, we will see a very strong 2021 and 2022 as the rental yields are hitting highest in 15 years and prop with good yields are being snapped up investors.

 

Yes we ended up purchasing a property in Rocky and it was bloody hard to get! All properties I enquired about were under offer within 24-48 hours of listing... not what I expected at all! Persistence paid off and we got a really cute little cottage that will shine up a treat. I was talking to the agent again shortly after settlement and he said they had over 200 enquiries about the house so I'd say your comment is spot on the money!

 

My rents went up $20 and $30/week, pretty happy with that.

 

Rocky seems to be going well. I am starting to see investors buying again. Been a long time coming. A lot got scared off after the end of the resources boom and a lot of the Rocky area got lumped in with the 4702 postcode which banks did not favour.

Rocky never really booms or busts like mining areas but rides on the back of those areas a little.

 

Rocky is on my radar but it hasn't ticked all boxes for me.

It has one of the most diverse economies north of Brisbane (arguably it's more diverse than Mackay, Gladstone and Bundaberg).

Vacancy rate has been improving which led to increased rent. However median days on market is still high and there is still stock on the market.

I have no doubt that it will eventually boom but I don't think Rocky's time has come yet.

 

I keep an eye on Rocky having bought there and done well in the last cycle .

problem at the moment is that most places I’d like to buy in are moving at the same time , to varying degrees , so hard to time the cycle , buying in one place then to the next as it starts to move .

for those who haven’t seen it , here is a link to a somersoft post on Rocky .

last time Yeppoon almost doubled before Rocky moved

Rocky , The next Big Thing ??

I do wonder what happened to astroboy

I’m hoping Alanyin is correct

cliff

 

This should do very well for Rocky/Yeppoon. Perhaps the next byron bay?

Aussie Firm Hopes to Ride Wave of Success With $187m Surf Park

 

Only certain parts of Rocky & Yeppoon I would deem investment grade.

 

floods a problem up there

depot hill and out to the abattoir were areas we didn’t look at

We tended to stick to the older central suburbs rather than the new subdivisions on the edge

Yeppoon had already boomed by the time we got there but hasn’t gone up to the same extent at this stage .

What are the areas which you think are worthwhile in Yeppoon ?

 

I think Yeppoon doesn't flood much? Last time I checked prices had increased a fair bit.

 

Flood is mainly Rocky , but in Yeppoon , some of the beach front is classified as flood prone , and that was in the early 20’s and since then lots of beach front areas have come under “ surge “ zoning . ie cyclone comes through when there’s a high tide and you’ll have issues .

Port Hinchenbrook was inundated a few years ago by a ? 2 m storm surge.

cliff