The 4th Quarter of 2012 saw further consolidation of the local property market, with growth plateauing and a median house price at $442,000 for Gladstone.
Some housing market sectors have seen as much as 15% price decline, and overall a reduced number of transactions and increase of property on the market, giving the perception of oversupply in the market.
The rental market has stabilised and witnessed further erosion of the traditional cooperate market ($800-1000 per week) believed to be a direct result of workers relocating to camps on Curtis Island. The vacancy rate sat around 1% throughout the 4th Quarter.
In a recap of 2012, the highest residential price sales transaction was in River Drive, Boyne Island at $1.55million in August 2012 and the lowest recorded price being in Auckland Street, Gladstone at $295,000 in October 2012.
For 2013 we predict strong sales around mid-year as more exciting prospects come into light including the Boulder Steel Project and also Shale Oil having the go ahead.
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Queensland Market Monitor (QMM) is a quarterly publication entirely focused on residential sales and rental research data for regions throughout Queensland, on a suburb-by-suburb basis.
Each edition includes suburb-by suburb median sales prices for houses, units and townhouses, and vacant urban land; median weekly rents for houses and units and townhouses; useful charts and graphs; detailed comparisons and expert analytical commentary.
This detailed level of information enables you to conduct valuable comparisons between various regions and market segments, and to ensure you are completely informed of all the latest market trends and fluctuations.
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