By Emily Kemp, Gladstone Observer 30/11/2012
DESCRIBING a house price of under $500,000 as “affordable” may seem a joke for many, but Ray White Real Estate director Andrew Allen said it was all about perspective.
“Compared to the cost of housing in other mining and industry towns, such as Moranbah which is about $700,000-$800,000 for a home, it is certainly more affordable than that,” Mr Allen said.
“For people on average incomes, anything up to $500,000 is definitely a battle.”
The Real Estate Institute of Queensland’s September quarter report found Gladstone’s local government area median price to be $455,000.
“It is basically supply and demand that drives the housing prices,” Mr Allen said.
He agreed that Gladstone had a two-speed economy.
“Definitely there is (an imbalance). Anyone working in the construction industry or related industries, definitely they’re the bigger wage earners,” he said.
Some Gladstone residents have voiced concerns that affordability of new houses was coming at the expense of quality.
“The rising costs of construction means a lot of people can only afford a certain level of quality. It just becomes too expensive,” Mr Allen said.
Two of Gladstone’s most respected and high-performing real estate agencies, Ray White Gladstone and LOCATIONS estate agents, have officially merged, bringing together nearly 60 professionals in the biggest team the region has ever seen. Nina Clarke • Media and Communications This powerful union marks a new era for real estate … Read more
Our team’s passion and the overwhelming generosity of the Gladstone community made this year’s campaign truly unforgettable. Together, we were able to bring smiles, joy, and festive cheer to countless families, children, and individuals in need.