Property

Gladstone makes list of Dirty Dozen suburbs to avoid

UPDATE: 

IT'S not the first time Gladstone has made Terry Ryder's list The Dirty Dozen. 

In January Mr Ryder pointed out the issue of housing oversupply; but GAPDL CEO, and former real estate agent, Darryl Branthwaite says Gladstone is just going through a "transition phase" off the back of the LNG construction boom. 

Mr Branthwaite said despite the downturn and ailing property market Gladstone had a bright future - and that is positioned around the port, not mining. 

"We've got expanding opportunities in tourism including the cruise ships which will start arriving next year bringing 16,500 visitors here," Mr Branthwaite said. 

"We have had genuinely strong growth and the patterns are showing for the next decade or two we will continue to grow. 

"We are a port city to the world and that's our greatest asset."

While coal and LNG makes up a large portion of goods exported via Gladstone Port, the trend is changing as the port continues to diversify exporting more than 39 different products. 

Last financial year Gladstone Ports Corporation broke its own records when they exported 100 million tonnes of goods - and that number is expected to increase to 140 million tonnes by 2020. 

Gladstone Ports Corporation CEO Craig Doyle said three years ago coal accounted for 70% to 75% of goods moving through the port.

That is expected to drop to 60% over the next three years. 

"Last year we hit a record in container (shipments) too with 11,000 containers moving through the port," Mr Doyle said. 

"So there are growth opportunities there too.

"It's a classic example of the boom and bust cycle. All you have to do is go and look at Gladstone and what it is today compared to five years ago. 

"We have more industry, more jobs - not construction jobs at the moment, but more permanent job opportunities.

"We are an industrial town but we're not focused on just one product.

"Obviously some big ones are heavily linked to mining, but it's not the only trick in our tool bag."  

EARLIER: 

A PROPERTY research firm has declared Gladstone is among the worst places in Australia to buy property right now. 

Hotspotting.com.au, founded by property expert Terry Ryder, put together its annual Price Predictor Index - the 12 worst places to buy right now, otherwise known as The Dirty Dozen. 

Mr Ryder wrote in an article on the Property Observer that the resource sector and mining towns were likely to get worse before they get better.

The list takes into account sales, vacancies and prices to predict future trends for suburbs.

Gladstone is among six resource-related centres to make the list, including Emerald, Moranbah and the Surat Basin. 

How do you feel about Gladstone being named among the Dirty Dozen? Leave your comment below.

THE DIRTY DOZEN:

  • Perth, WA
  • Port Hedland, WA
  • Karratha, WA
  • Newman, WA
  • Kambalda, WA
  • Gladstone, QLD
  • Emerald, QLD
  • Moranbah, QLD
  • Surat Basin, QLD
  • Mount Isa, QLD
  • Mornington, QLD
  • Townview, QLD

Topics:  gladstone property real estate



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