Calliope has had a very poor year for property investment returns compared to the rest of QLD, giving investors a capital gain of -26.22% to date .
Across a shorter period, Calliope, 4680 has seen a median price increase of -11.11% over the last quarter.
Property investors looking for a bargain in Calliope should be aiming for at least -11.68% off the asking price, which is the average vendor discount being achieved at the moment.
A $220 per week rent on the median house gives suburb investors a gross yield of circa 4.09%, without taking into account capital value appreciation, which has been averaging out at 2.58%.
Calliope’s property market is benefiting from the shortage of accommodation in nearby liquefied natural gas (LNG) hub Gladstone.Full summary
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Calliope’s property market is benefiting from the shortage of accommodation in nearby liquefied natural gas (LNG) hub Gladstone.
Located around 20km south-west of one of the nation’s most talked about hotspots, Calliope hasn’t received the kind of media attention that Gladstone has, but certainly warrants closer inspection, says Raine & Horne Calliope/Tannum Sands sales consultant Liana Wynne.
"Currently, some properties are selling a day after hitting the market,” she says. "Four bedroom homes are the most highly sought after, and when it comes to new developments, properties are selling as soon as a slab is laid."
She adds that, given the massive influx of employees that are heading to the region to work on its LNG projects, she doesn't expect the demand for property to drop off anytime soon.
Rental properties too are being snapped up by tenants as soon as they become available: "The minimum rental now offered by our office is $450 per week for a three bedroom home, while it can cost up to $600 per week to rent a four bedroom home,” says Wynne.
"People are looking for homes wherever they can find them, and in some cases tenants are even pooling their money to pay rents up to $1,000 a week."