Ex­pert re­veals lo­cal real es­tate mar­ket picks up con­fi­dence

Central Queensland News - - FRONT PAGE - Aden Stokes Aden.Stokes@cqnews.com.au

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.

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