Property

Real estate market stabilises in Gladstone

BUYERS take note - Gladstone's residential property market is flowering ahead of the Spring selling season, while sellers need to get their prices right.

The release of the Real Estate Institute of Queensland's REIQ June Quarter 2014 Housing Market Review shows optimism that real estate in Gladstone is on track to bounce back amid growing confidence.

Gladstone mortgage broker Jamie Oliver said he had seen an obvious increase in market confidence.

"With prices coming down, we've seen a steady increase in people inquiring at getting loans, because with the better prices people can now afford houses," he said.

"Market confidence has definitely increased and I think that's come from prices coming down and becoming more affordable.

"The general confidence in people's incomes has steadied again and they believe there's more work for them here in Gladstone."

He said it was definitely a buyer's market, and would tell owners if they want to sell that "they've got to get their prices right because people are waiting to buy".

According to the review, the Gladstone median house value was down 1.5% in the June quarter to $410,807, and down 4.7% over the past 12 months.

Average vendor discounting in Gladstone in the June quarter was relatively unchanged at 9.8%, with average days on market steady at 117.

REIQ Gladstone Zone Chair Mark Spearing said the Gladstone market had stabilised during the last quarter, however sales volumes remained low and investor interest was down.

"The major industries are still affecting the market, however with the perceived value in such an economically sensitive port city astute buyers, many locals are once again starting to look for opportunities," he said.

"Vacancy rates remain higher than the average in recent times but quality homes are still sought after.

"Homebuyer interest is increasing given the softening in the market over the last 12 months and the increased affordability on offer."

Topics:  gladstone property, market, real estate




Magistrate sends man's 'serious' sex act case to district court

FILE PHOTO: Gladstone Courthouse, Yarroon St.

Sex intruder case 'serious', goes to District Court

PHOTOS, VIDEO: Man dies on scene of "high impact" fiery crash

A PILE of black ash, debris and small car parts is all that is left at the scene of a fatal crash that took place along Calliope River Rd last night.

The car rolled "several" times before it burst into flames.

Busy Gladstone facility to receive $3m revamp

Community and youth development officer Bec Frost is really happy about the new funding for the PCYC. Photo Mike Richards / The Observer

The expansion will boost jobs too, with a "locals first” focus.

Latest deals and offers

MOVIE REVIEW: Life on the Road

Ricky Gervais, Ben Bailey Smith and Foregone Conclusion (Steve Clarke, Andy Burrows, Stuart Baxter Wilkinson, Michael Clarke) in a scene from David Brent: Life on the Road.

Ricky Gervais has brought David Brent back to life on the big screen

Jessica Alba wants tequila shots served at her funeral

Businesswoman and actor Jessica Alba

There won't be mourning at this funeral

Tom Hiddleston's Instagram account hacked

Actor Tom Hiddleston

Thor star the latest celebrity targetted by hackers

Charlize Theron's son dresses up as Frozen character

Actor Charlize Theron

Star's son spotted dressed a beloved Frozen character

BOOKS: Food for thought in Caroline Beecham's latest novel

Maggie's Kitchen by Caroline Beecham is published by Allen & Unwin, RRP $29.99.

New novel reminds readers that bravery exists in many forms

TELEVISION: New show is a Survivor, for now

Jonathan LaPaglia hosts the TV series Australian Survivor.

WHAT happens when a new show with a big budget flops?

REVEALED: Pat Rafter's $18m Coast house on the market

Check out the photos of the Coast's most expensive property for sale

The "correction we had to have" in Gladstone's rentals

UPWARD MARCH: The rental vacancy rate in Gladstone has improved for the first time in more than a year, providing a confidence boost in the market.

Vacancy rates improve with signs that things are getting betterF

ISLAND FOR SALE: Cheap Fraser Coast island drops price again

Suna Island in the Great Sandy Strait will be auctioned by Ray White Hervey Bay on Saturday morning.

This is the cheapest island you will find for sale in Australia

How a family home can fit on a 250sq m block

This is what you can build on 250m2.

Here's the floor plan of a home built on 250sq m

$100m plan for Curtis Island 'world class' luxury resort

$100 million resort: Top views at Turtle Street at Curtis Island.

"At the moment we think it meets all the town planning approvals.”

Gladstone landlords in trouble with Bechtel job losses

"If a big project was announced tomorrow I wouldn't want to see it"