Brookview Estate bucks the trend due to unique facilities
GLADSTONE'S Brookview Estate is challenging the softening of the port city's rental market, with the $90 million community development preparing to hang the "no vacancy" sign.
Brookview Property Management principal Mike Fischer said tenants were snapping up leases at the resort-style residential estate at Glen Eden, leaving just one dwelling available.
He said Brookview's unique lifestyle facilities, master-planned design and location were proving attractive to tenants and owners.
"Properties are being snapped up quickly and we are nearing a zero-vacancy situation," Mr Fischer said.
"And there are tenants ready and willing to rent any properties that do become available."
Brookview's leasing blitz comes as Gladstone's once red-hot rental market continues to cool with citywide vacancy now at 7.7% after sitting below 1% for many years.
It is a great place for our residents to work out, relax, meet their neighbours and develop a real sense of community.
Mr Fischer said he expected demand to remain high for rental properties within the community thanks to its unique lifestyle facilities.
"The completed Brookview Residents Club at the heart of the estate is a huge drawcard for residents - it's a deal maker," he said.
"There is nothing like it elsewhere in Gladstone and both tenants and owner-occupiers see it as a wonderful inclusion.
"It is a great place for our residents to work out, relax, meet their neighbours and develop a real sense of community."
The $1.5 million club has a 25m outdoor lap pool, children's wading pool, gym, barbecue area, sun lounges, function room, kitchenette, playground and park.
Mr Fischer said Gladstone's once surging rental market had corrected since the dizzy heights of the mining boom in 2011.
However, he said the city had a solid economic base and, contrary to popular perception, most workers in Gladstone were not employed in the mining industry.
This is underlined in the latest data from The National Property Research Co which reveals more than 95% of the city's population is employed outside of mining.
The report, entitled Is Gladstone Really a Mining Town? states that the unemployment rate is 3.5%, well below the Queensland average of 5.9%.
"Whilst there is no doubt that a price correction in housing has occurred, many desktop analysts fail to see Gladstone for what it really is - an industrial port city," the report states.
The manufacturing, construction, transport and professional sectors were revealed as the biggest industries, employing almost 65% of workers in Gladstone.
Developed by Latitude Development Group, Brookview Estate will ultimately comprise 320 freehold lots over eight stages across 36ha.
Lots in the now released third stage range in size from 450sq m to 800sq m and are priced from $215,000-$260,000.
All blocks at Brookview Estate are sold with benching and retaining work completed, meaning they will be ready to build on straight away and in turn providing a significant saving to buyers.
For more information on Brookview Estate visit brookviewestate.com.au.