Gladstone market showing some positive signs: HTW residential
Over the first half of 2019, the Gladstone residential property market has continued to show positive signs, according to the latest Herron Todd White (HTW) residential report.
"We have seen minor capital growth of 5% to 10% in some market sectors and some locations in the region," the valuation firm said.
The report suggests that this growth is certainly not across the entire market however it definitely continues the momentum from 2018 in a positive way.
The market is still being driven by its affordability, with limited new employment opportunities in the region.
A recent sale was a West Gladstone four bedroom house with views towards Mt Larcom and the harbour.
It has been sold for $335,000.
Located at 12 Piper Street (pictured below), the house comes with four bedrooms, separate carpeted lounge room, entertaining area or rumpus room, and tiled outdoor area.
"We expect affordability to be the driving factor of our market for the foreseeable future," HTW said.
Rental levels have continued to rise across 2019.
A fully renovated two bedroom house at West Gladstone has recently been listed for $200 per week.
Located close to the city, the house at 16 Fowler Street (pictured below) comprises two bedrooms, lounge room, separate dining room, new kitchen and sunroom.
In most cases rents are jumping 10% per week each time a six-month lease is renewed or commences.
Vacancy rates are hovering around the 3% mark and have remained relatively stable so far this year.
