FEELING RIGHT AT HOME IN CQ
Expert reveals local real estate market picks up confidence
CONFIDENCE in the local real estate market has picked up, with a large number of sales over the past month.
A quick search on realestate.com.au has shown 18 sales in just the past month.
According to Emerald Real Estate principal auctioneer Jason Campbell, there has been renewed confidence right across the board, both in Emerald and in Blackwater.
“The interest has certainly increased, not only in September but over the last few months on the back of news of Sojitz buying the Gregory Crinum mine and the employment opportunities that are going to come forth from there,” he said.
“It’s been a gradual build bringing confidence back to the market.
“There have been plenty of sales in the lower end of the market, not only with first home owners but people renting and seeing increases in the rental amounts jumping off the rental roundabout and hopping into owning their own property.”
Mr Campbell said vacancy rates had also lowered.
“Good-quality and well-kept properties have certainly tightened up, with rent increases right across the board in all facets of the rental market,” he said.
“The vacancy rates in Blackwater are also going along the similar line as Emerald and have tightened right up, with an increase in rentals.”
Mr Campbell believes this confidence will continue to grow into the new year.
“In the next 12 months we will see some sharp increases and right now is a really good time to purchase if anyone is interested,” he said.
“We have the next stage of Maranda Estate moving forward with a new developer and doing house and land packages out there.
“We’ve got bigger outside investors and developers seeing a lot more confidence in our market and are looking to invest.”
According to CoreLogic data, sales numbers for houses have lifted in Emerald in the past year.
In the year to the end of June 2017, 158 houses sold compared to the same time this year when 169 houses sold.
The trend started earlier in the year, with CoreLogic figures revealing 171 house sales in the year to the end of May 2018 compared with 153 at the same time last year.