Gladstone still the place to buy
Gladstone has a strong rental market not having seen a vacancy rate over 3% for over five years. In 2012, the opening of workers accommodation on Curtis Island coincided with the hand-back of many company occupied homes, causing rental price deflation in the top end of the rental market.
After Christmas with all the rain the Gladstone region received the rental market plateau and there was a substantial amount of new product on the market and at risk of saturation. The vacancy rate was around 2% for the first time in over 3 years.
Then in March we saw a remarkable increase again in enquiry and our Ray White Gladstone office have a 0.7% vacancy rate with only 4 houses available and letting 15 properties last week alone.
Gladstone has a very stable rental market and strong, with the increase of demand in the last few weeks has given a lot of confidence in the market.
Healthy Real Estate Market
In 2012, the overall Gladstone market has seen a slow-down in both owner-occupier and investor enquiry. Compounding this is the fact the volume of available properties on the market has almost doubled in the last quarter, resulting in a perception of oversupply. Many commentators suggested that this may only be short lived with LNG construction workforce numbers predicted to dramatically increase in coming months.
The Gladstone median dwelling price for the 4th Quarter 2012 was $442,000, with a 3.8 per cent growth throughout the year, with units and townhouses posting a 4.8 per cent growth. For 2013 it is predicted Gladstone with have strong sales numbers and prices remaining firm as people excited for future announcements.
Located in the heart of the Queensland coast, Gladstone is only 550 kilometres north of Brisbane and 1100 kilometres south of Cairns. Gladstone has one of the busiest harbours with coastal and rural living only minutes apart.
Gladstone is one of the southernmost places in Australia that experiences such beautiful tropical climate.
Estimated resident population of Gladstone Regional Council in June 2011 was 62,319. It is expected to reach between 93,565 and 123,420 by 2031. The median age of the Gladstone Region is 35 years old.
Gladstone is in the centre of the Southern Great Barrier Reef and has islands, waterways and beaches on the doorstep of the world-famous reef. Also featuring beautiful coastal towns including Seventeen Seventy which also has great historical importance being the first place in Qld that explorer Captain James Cook stepped ashore. Boyne Island and Tannum Sands boasts beautiful parks along the river bank and family-friendly beaches. Gladstone City, at the centre of the region is overlooking a natural deep water harbour and offers many local attractions, harbour industry tours, award-winning parks and gardens and fascinating museums among many more.
Industry & Employment
Gladstone region has been recognised as ‘a strategic and logical choice for industrial, commercial, retail and residential investment’. Gladstone Region is known as the industrial hub of Queensland since 1960 when Queensland Aluminium Limited first started operating in Gladstone. Now we are home to many industries that are supporting our region, including;
Gladstone Ports Corporation Limited – Port Expansion /Fisherman’s Landing Reclamation Area – $2.5B
Wiggins Island New Coal Export Terminal – Stage One $2.5B – Construction Employment 800 jobs
GLNG – US$18.5B – Construction Employment 5000 jobs
Qld Curtis LNG – US$20.4B – Construction Employment 5000 jobs
Australian Pacific LNG – $23B – two trains- Construction Employment 3300 jobs
Curtis Island Water and Sewage Infrastructure Project – $100M – Construction Employment 200 jobs
Western Basin Dredging and Disposal – $656M – Construction Employment 225 jobs
Gladstone Pacific Nickel Limited – US$3.65B Stage one – Construction Employment 1000-2300 jobs
Origin Energy – Gas Field Development – $260M
Projects Under Study:
Tenement to Terminal Limited (3TL) – $2.2B – Construction Employment 600
Arrow LNG Plant – $ TBA – Employment peak 3,715
Boulder Steel Limited – $4.4B – Employment Construction 1500 – 2000
GHD Pty Ltd – $1.5B – Construction 800 jobs
LNG Limited – US $760M – Construction 50 – 120 jobs
Project Sun LNG – Stage one $450M – Construction 400 jobs
Aldoga Power Station – $1.8B – Construction 1000 jobs
Gladstone is in close proximity to 26 major mines and has many residents also in fly-in fly-out employment with these.
We have many social infrastructure currently underway, completed and to be finished in the years to come. The Gladstone Airport Reconstruction project was finalised in 2010 which was a major stepping stone for Gladstone. Currently the Calliope Cemetery, Tigalee Creek Project, Yarwun Service Roads, Entertainment Centre expansion and the Calliope Crossroads are all getting a major overhaul. In the next year we also have the main Stockland Gladstone expansion for $125million. Stockland Gladstone’s total lettable area will increase to 40,000 square metres and the project will create 660 jobs during construction, 400 upon opening and about 1000 flow-on jobs
After the finalisation of the Gladstone Airport Expansion in 2010, Virgin has joined Qantas in Gladstone and the two carriers have made a lot more choice for residents and holidaymakers as well as the increase now of fly-in fly-out workers. Gladstone also features easy travel access by rail, road, sea and air.