Newspaper article The Observer (Gladstone, Australia)

First Home Bargains; Properties for Less Than $100K

Newspaper article The Observer (Gladstone, Australia)

First Home Bargains; Properties for Less Than $100K

Article excerpt

Byline: Noor Gillani

IN ABOUT 13 years there has never been a better time to buy property in Gladstone, according to Ray White Gladstone director Andrew Allen.

Mr Allen manages properties on every spectrum of the market and said people could not "go too far wrong" buying in Gladstone.

"No matter where you buy at the moment, the Gladstone Region is significantly undervalued compared to neighbouring cities like Bundaberg and Rockhampton," Mr Allen said.

"You're buying at the bottom of the market cycle."

Mr Allen said people taking advantage of the prices were mostly first-home buyers, retirees and interstate investors.

"Right now is the best time to buy in probably a decade. Prices are lower than they may have been even 12-13 years ago," he said.

"We also see a huge upside in the market moving forward.

"The last three months there has been a real uptake in the amount of properties selling and we're starting to see that flow through the prices."

For keen investors and first-home buyers looking to enter the marker, The Observer has compiled a list of some of the region's cheapest residences for sale.

Each property has two bedrooms, one bathroom and one car space.

All are going for less than $100,000.

5/32 Elizabeth St, South Gladstone - $72,000

This top-storey unit has a balcony with views across town and is in close proximity to shops and schools. With one of the cheapest purchase prices in Gladstone it offers a good opportunity for renovation.

10/37 French St, South Gladstone - $75,000

This unit resides in a fully fenced courtyard for extra privacy and security. At the front it has space to create an "outside sanctuary" leading into an open-planned living and dining area. It has an upstairs bathroom and is roughly 74 sqm. …

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