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



Storms are coming! What it means for your long weekend

Yes, it's going to affect your long weekend

BREAKING: Meteorite chasers in hunt for 'fragments' in Agnes

A meteorite may have been spotted crashing to earth this evening.

Reports that part of the object could have landed in Agnes bushland

Gladstone hairdresser drops 60kg for big day

Bridie Immoos and Michael Ritchie wed at Agnes Water on September 24.

Bride sheds 60kg ahead of big wedding day.

Local Partners

Channel 9 orders second season of Doctor Doctor

Rodger Corser stars in the TV series Doctor Doctor.

RURAL medical drama finds a loyal following.

Katy Perry gets naked to encourage people to vote

Katy Perry in Funny Or Die sketch

Katy Perry has stripped naked for a comedy video

Jogging Tom Hanks crashes wedding in Central Park

Tom Hanks stopped for a selfie with this bride and groom

MOVIE REVIEW: Storks delivers family fun

A scene from the movie Storks.

ANIMATION can be hit or miss but when it hits, it hits hard.

Nick 'the snake' to call the shots on Survivor jury

Australian Survivor contestant Nick Iadanza.

LATEST evictee is out of the game but will still have a say.

Naomi Watts and Liev Schreiber split

Naomi Watts and Liev Schreiber

Naomi Watts and Liev Schreiber have split after 11 years together.

$40million hotel, shops development project for Mackay

Mt Pleasant hotel and retirement accommodation, proposed at 194-202 Malcomson St.

$40m development to take Mackay to 'the next level'

'Flex muscles': Gladstone suburb drops $120K

BUYERS are scooping unprecedented deals by “flexing their muscles at the table”

Few bright lights for property after mining downturn

The Gladstone Regional Council wants associated LNG companies like Bechtel to be apart of the EIS housing accommodation strategy from the outset of the projects and not mid-way through.

Tannum Sands continues to write its own property success story

Property 200m from ocean selling for just over $100K

BEACHCOMBER PARK: Work has started on a new $19.2 million development at Toogoom.

The estate's developer is offering huge discounts for early buyers.

UPDATE: Former rodeo champ's sale rained out, now back on

Larkhill local Ken Consiglio is having an auction of most of the things on his property.

'People kept showing up and we had to turn them away'

Market opens as Gladstone sellers drop prices to force sale

VENDORS are dropping the price on houses to force a sale.