QLD has seen average median house prices change by 0.78% which means that Gracemere, 4702 has done well for property investors by showing a capital gain of -5.50% over the last year
Across a shorter period, Gracemere, 4702 has seen a median price increase of -0.96% over the last quarter.
Property investors looking for a bargain in Gracemere should be aiming for at least -9.17% off the asking price, which is the average vendor discount being achieved at the moment.
With the median price for a house in Gracemere being $257500 and the advertised rent reaching $300 the gross rental yield for property investors calculates out to be 6.06%
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“Listings are being taken very quickly,” says Jodi Schofield, business development manager at Harcourts-Gracemere. “It’s an in demand suburb. It’s self-sufficient and it caters to families with parents that work in Rockhampton or mining areas.”
The area’s strong point is that it is a much more desirable place for many families to live than in the mining areas that employ a large portion of the residents within this part of Queensland. It shares this position with Gladstone and Mackay, but Schofield says that Gracemere is a good $100,000 cheaper than some of the suburbs in those cities. “We’re already seeing demand pick up,” she says, adding that she expects prices to do well this year.
Best street(s): Some of the best value homes are located along Lamb Avenue, Kate St and Ingram Dr.