Newspaper article The Observer (Gladstone, Australia)

City No Longer Boom or Bust Town

Newspaper article The Observer (Gladstone, Australia)

City No Longer Boom or Bust Town

Article excerpt

Gladstone LJ Hooker sales consultant Steven James answers some questions about market conditions in this week's Agent Insight Q&A.

How is the current housing market - is it rising or falling?

The local property market is going through a correction and prices have been falling since this time last year. The number of transactions is significantly down on last year's figures.

The federal election may bring some stability to the market as investor confidence grows from projects being announced in the lead-up to the election from both of the major parties, but time will tell.

Historically spring has always been a busy time in real estate so we should see the number of transactions increase over the next few months. So if you were looking to sell this year spring may just be the right time for you.

What's the return on someone's property in today's market?

RETURN on investment is a common term predominantly used by investors when they are looking at what percentage rate they would get from purchasing an investment property and taking into account the rental income. Current statistics show there are quite a few properties getting more than 7% per annum but this is determined by rent and purchase price, so some of these figures can change with sliding rental yields.

In relation to owner-occupied dwellings, it all depends on the timing as anyone who has purchased over the last couple of years would find to sell in the current market and recover their holding costs of interest, rates and stamp duties extremely difficult in this climate.

What suburbs are the most popular in Gladstone at the moment?

The most popular suburbs at the moment have been residential areas close to schools and shopping facilities. Areas like pockets of West Gladstone, Kin Kora, Telina and Sun Valley have always been popular.

Other areas like Seaview Heights have been popular to people looking for a mix of being close to schools, shopping facilities and sporting clubs as well as having quicker access to roads leading to industry via Red Rover Rd. …

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