Gladstone has potential to be one of wealthiest Qld towns
GLADSTONE is not just a sleepy mining town, and has the potential to be one of the wealthiest communities in the state.
That was the message delivered to a capacity crowd of real estate agents, business heads and council figures at a property research event on Wednesday.
The Urban Development Institute of Australia, Queensland hosted The Challenge of Remaining Relevant breakfast at The Grand Hotel.
National Property Research Company managing director Matthew Gross delivered a passionate speech about Gladstone's economic drivers and the future of the industry.
He said Gladstone had the third fastest growth rate of all regions in Queensland, with the 25-44-year-old age group the largest population sector, predicted to create wealth.
Mr Gross also stressed how well the town was positioned in terms of unemployment, diversity of industry sectors, and house sales, but said apartment sales and first-home buyers were suffering.
Interestingly, over 95% of the population is not employed in a mining capacity, with 22.6% of people employed in a manufacturing, 17% in construction, 13.6% in transport and postal and 9% in the professional, scientific and technical sector.
From a real estate perspective, the median sales price is looking up, jumping from $182,000 in 2003 to $430,000 last year.
"The median sales price increased majorly from 2003-2013 in Toolooa and Telina. Asset values have held up really well," he said.
Mr Gross said a total of 1800-plus homes were required on average each year in Gladstone, and 560 sales are recorded each year for vacant land.