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Overseas buyers show interest in Gladstone

A RIVER of international cash slowly flowed into Gladstone's property market last financial year.

Overseas buyers bought 12,438ha of the city's land for $12,085,986 - that's about $900 a hectare.

The Foreign Ownership of Land Register 2014 annual report shows the region is in the top 10 of land parcels overseas buyers owned across the state, with 735 of the region's blocks now overseas-owned.

Department of Natural Resources and Mining data reveals interests from the United Kingdom spent the most in 2013-14 as they swapped $9.36m for 1248.816ha.

Chinese buyers picked up 211.71ha for $5.73m, while the United States paid $917,220 for 10,763.437ha, South Africa secured 7.258ha for $540,000 and Malaysians paid $533,851 for 209ha.

It was one of the middle-range spends in regional Queensland - particularly when weighed against Ipswich, Mackay and Toowoomba - but it outstripped Rockhampton's sales, where overseas interests spent just $1.24m.

Gladstone Real Estate Institute of Queensland zone chairman Mark Spearing said the city's role as a trading hub helped attract the cash.

"Given that Gladstone is a global trading centre for the eastern seaboard, it doesn't surprise me at all."

Total land parcels owned:

Region, Number, by local government area as of June 30, 2014:

  • Brisbane City: 4627
  • Sunshine Coast: 943
  • Gladstone: 735
  • Bundaberg: 637

- Source: Foreign Ownership of Land Register annual report and the Department of Natural Resources and Mining

- APN NEWSDESK

Topics:  gladstone property land sales market real estate



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