South Gladstone, a small suburb off the coast between Rockhampton and Bundaberg, could get a big boost soon from new industrial growth. Steel manufacturer giant Boulder Steel Limited said in July that it plans to build a $1b plant nearby, generating nearly 700 jobs in the Gladstone region. Gladstone already is home to the state's largest port.
Even before that news, South Gladstone has been doing well, with a capital growth of 39.3% over the past 12 months according to RP Data. That growth has slowed down in recent months, but Gladstone LJ Hooker agent Steve James says there's reason for optimism with Boulder's announcement, along with other job growth expected to spur property prices upwards.
With a median home value of $390,000, there's room to grow. "If you're looking to get into the property market, it's a bit easier right now. There's no better time than this moment. It has been quiet for some time. There have been some adjustments happening in the market. But that won't last forever," says James.
James says it might be just four to eight weeks before sales and property values pick up again.
There's quite a range in South Gladstone, with some homes in the low $200,000 range for first time buyers, up to waterfront properties in the $700,000s. Some of most popular homes are those in the central business district. South Gladstone's properties generally have larger lots, as well.
"What brings most people is usually the affordability and the options of having a bit more land to play with," James says.
For more investment hotspots, check out the latest issue of Your Investment Property Magazine out on sale now.
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