Buyers can take their pick with house prices falling

GLADSTONE is very much a buyer's market, with house prices still on the decline.

And while real estate agents hope prices will stop dropping, the dollar figures are not budging.

Gladstone REIQ zone chair Vicki Brown said prices in sales and rentals were constantly decreasing and were the worst she has ever seen.

CoreLogic RP Data statistics show 119 homes were sold in Gladstone's suburbs in the three months leading up to December last year.

The 2015 year recorded a total 648 sales across Gladstone.

In the December quarter last year, Clinton recorded the most sales, with 16 houses sold.

West Gladstone recorded the second highest number, with 13 house sales.

Median house sale prices ranged from $245,000 in West Gladstone to $482,500 in Tannum Sands.

Ms Brown, from Boyne Island LJ Hooker, said house prices in Tannum Sands and Boyne Island were the same as they were about 10 years ago.

"I've been in real estate for 29 years," she said. "This is the worst I've seen it and I've been on the ups and downs.

"The Gladstone region has always been a rollercoaster in real estate. It just doesn't seem to want to bottom out."

Despite this, Ms Brown said there were still buyers around.

Gladstone Ray White director John Fieldus said the market was bumping along the bottom, but there had been positive signs recently.

He said they had rented 132 properties since the start of the year and had the strongest two months they had experienced in two years.

"Generally activity drops off in February but we had the best February ever, it was fantastic," he said.

Mr Fieldus said rental figures were a good sign that things were beginning to pick up.

"But having said that, the town has a good way to go."

Rentals make up about 40% of Gladstone's properties and Mr Fieldus said rentals had an "enormous influence" on the market.

Mr Fieldus said those who were buying in Gladstone were first home buyers and people upgrading while prices were cheap.

"The buyers and tenants have the opportunities at their feet at the moment."

Going forward, Ms Brown said it was difficult to predict what the future would hold for the Gladstone housing market.

But she said she could not see it slowing down for at least another three months.

"But things could change tomorrow," she said.

"I always thought 2016 was when it was going to turn around and start going back up again but unfortunately it's still going down." - ARM NEWSDESK

 

Quick Facts

Calliope

Size: About 184sq km.

Predominant age group: 0-14 years.

Households: Primarily couples with children.

Likely mortgage repayments: $1800-$2400 a month.

Ownership: 74% of homes owner-occupied.

Clinton

Size: About 8sq km.

Predominant age group: 0-14 years.

Households: Primarily couples with children.

Likely mortgage repayments: $1800-$2400 a month.

Ownership: 65.7% of homes owner-occupied.

New Auckland

Size: About 5sq km.

Predominant age group: 0-14 years.

Households: Primarily couples with children.

Likely mortgage repayments: $1800-$2400 a month.

Ownership: 59% of homes owner-occupied.

Tannum Sands

Size: About 85sq km.

Predominant age group: 0-14 years.

Households: Primarily couples with children.

Likely mortgage repayments: $1800-$2400 a month.

Ownership: 68.8% of homes owner-occupied.

West Gladstone

Size: About 8sq km.

Predominant age group: 0-14 years.

Households: Primarily couples with children.

Likely mortgage repayments: $1800-$2400 a month.

Ownership: 59.4% of homes owner-occupied.

Source: CoreLogic RP Data

 



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