06 Oct Jump Into Spring’s Real Estate
Hayley Ward, the Property Sales Specialist from LOCATIONS estate agents has given us a few pointers to navigate the current Real Estate market here in Gladstone.
“The way the market is moving at the moment, it looks like it’s starting to tighten. We have started to see more stability with sale prices and this looks like it will continue for the short to medium term,” said Hayley.
“It’s not looking like prices will move significantly higher or lower than it’s been in the past few months.”
Hayley notes that LOCATIONS has recently seen a higher influx of first-time home buyers, which she suggests may come down to the tight rental market that we have seen across the Gladstone Region recently.
“We’ve experienced a very tight rental market recently. LOCATIONS had a 0.8 percent vacancy rate last month, which is lower than usual. Normally that number fluctuates between one and two percent, so we’re definitely sitting lower than normal.”
While rental prices are comparatively higher than they’re been in previous years, Hayley expects that these will stay at a similar level over the next few months. Although, given the sparse availability of housing, finding rental housing at an affordable price could prove to be quite difficult.
“We’ve had a high number of applications coming in for rental housing, and we’ve only got so much availability, especially since these numbers are sitting lower than normal.”
According to realestate.com.au, current purchase prices for the Gladstone Region are sitting from about $450,000 to $570,000 for a family home, and around $300,000 for apartments, townhouses and units.