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Plenty left in market

ByRay White Gladstone

GLADSTONE’S property market has stabilised with a comparable number of buyers and sellers.

Ray White Gladstone principal Andrew Allen described it as balanced and ideal for prospective investors.

“From what we’ve been through in the past two years, it’s been completely a seller’s market with prices on the rise, (but) I think it’s just plateaued off now,” he said.

“It’s the best opportunity for someone to get in because prices are just steady.”

New housing developments have eased pressure on the market, but if resource industry projects continue on, Mr Allen said he was confident a seller’s market would return. “I think history shows the fact,” he said.

“Gladstone’s got a bit of a stigma of being a boom-bust town, but if you look over the long term, last 30-40 years, it’s had extremely consistent growth and comparatively stable, as compared to other regional towns of the same size.”

How much the market grows depends on the climate of resource projects.

“Obviously a lot of coal projects out in the west, have either been shelved, delayed or slowed down, and the press around that has had an impact on Gladstone by virtue of a lot of people in a southern states think Gladstone is a coal town,” Mr Allen said.

Source: Gladstone Observer, Wed 31 Oct 2012, Emily Kemp

“It all depends on what happens with future projects, a lot of that will revolve around Arrow Energy.

“If they decide to construct their gas plant, we’re anticipating that will kick start the market once more.

“They’re saying first or second quarter 2013 they’ll be looking at making a decision. So potentially that gives people probably a six-month window to get in and buy something now.”

For investors, knowing what is going on in the region is important when thinking of buying.

“We always encourage people to do their research, look at what’s sold in recent months, to work out the true value of something and naturally keep abreast of what’s happening in the wider Gladstone region.”

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