One of the country’s property investment hotspots has seen rental prices for four bedroom houses increase by a staggering 48% over the past 12 months, it has been claimed. Read on to find out where.
According to a report by Central Queensland University, commissioned by Lyons Residential, the median weekly rental prices for four bedroom houses in Gladstone have increased by 48% over the last 12 months, while median house prices have seen an 8.2% increase.
Property investors who have kept even half an eye on the real estate headlines in recent years will already be familiar with the Gladstone boom, but can its stunning recent performance continue? Lyons residential development manager Oliver Kent believes so.
"The market is one with an acute housing and property shortage and this shortage is generating rapidly rising prices in both the sales and rental markets," he said, pointing to concerns that recent state government support for coal mining in Central Queensland's Galilee Basin and a 495km railway to Abbot Point near Bowen will create a severe housing shortage in the Gladstone region.
“The $90 billion worth of approved infrastructure projects will place additional pressure on the already tight housing and rental markets," he added. "We expect to see solid rental and sale prices increase over a much longer period of some seven years or more."
Are the boom times set to continue in Gladstone, or are developers just talking up the region? Place your comments below, or join the debate in our property investment forum.
20 property investment hotspots revealed
Time to buy property before the market turns
First homebuyers return to Queensland
Do you have more than $200k in your super fund? You could use your super to buy property - Find out how
Top Suburbs :
st kilda west
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus an appointment is free.
We value your privacy and treat all your information seriously - you can check out