It’s the beef capital of Australia and one of the largest regional ports in Queensland. This beautiful country, where coast meets outback, gives you the best of both world! But is a move to Rockhampton the choice of the property market? Or should you stick to the big town?
Economists predict a steady growth for the Central Queensland Property Market
Rockhampton property prices are lower than Queensland’s median ($151,500 as compared to $480,000) but the area is increasing in demand. According to realestate.com.au, the typical Rockhampton property experiences 173 visits when up for sale. While this doesn’t quite stack up to the major city Brisbane, it certainly speaks of the growth of the area as brand new populations are drawn to it.
Rockhampton is sitting at the top of Queensland’s real estate price growth and is the leading major regional centre, continually increasing in size and power.
Why are people investing in Rockhampton?
Rockhampton is a large and prosperous city which has become the unofficial capital of Central Queensland. As can be expected, people move to Rockhampton seeking a steady income. It’s the beating heart of surrounding towns like Yeppoon and Emu Park and there are many natural drawcards to the area nearby. Beaches and rivers swimming and fishing (paying attention to croc warnings, of course!) call to those who travel to Rockhampton. There is a flourishing cultural scene with sports clubs and bars and a growing tolerance in the area for newcomers. Rockhampton is growing up and its population is growing right along with it.
There are a variety of excellent schooling options, both boarding and day school, in and around the Central Coast.
What’s driving this Rockhampton property market forecast?
Houses and units on the market are experiencing shorter sale times and sale prices are gradually pushing upwards. A diverse local economy, supported by good cattle and coal prices, as well as job security in the region which marries nicely with affordable property rates.
Who’s buying here?
According to the Australian Bureau of Statistics Census for Rockhampton 2016, the trend is definitely for owner-occupier purchasers and a high number of first and second home buyers, particularly when compared to Brisbane.
Many professional couples and families with young children are either moving to the area or expanding into units, townhouses and family homes. There is an atmosphere of growth here and its being grabbed at with both hands!
What about investing?
With a low vacancy rate throughout the region, investment in the area is showing strong sings of growth and positivity. With an approximate 65% owner occupier rate, 35% of the population in the region rent. If you are looking for an investment property, consider houses in Rockhampton City rent out for $250 PW with an annual rental yield of 8.6% and units rent for $350 PW with a rental yield of 4.7%.