Estate agents agree: Gladstone market on the rise

Buyers picking up bargains in the region.

ECO COOL: This style of home is proving popular.

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THINKING of buying your first home? The Gladstone property market is starting to look up, according to local real estate agents.

"We are seeing buyer sentiment change,” Locations Estate Agents principal Alicia Williams said.

"Last year buyers were still sitting on the fence waiting for it to bottom out, whereas now they can see the value.”

"Prices are at a ten year low and interest rates are also historically low as well.

"If people are ready to get into the market there has never been a better time.”

CBS Property Group Gladstone principal Jim Baron said prices were back at about 2003 levels.

"Homes that were previously up to $600,000 are now selling for $300,000... it's a good time to buy,” he said.

"Honestly we've sold more property since Christmas than what we've done in the past two years, anything up to the $350,000 mark is hot property.”

According to Mr Baron, first home buyers were making up a large part of the buyers market.

"We've seen a lot of first home buyers, especially since Christmas,” he said.

"As much as we read doom and gloom in the papers, I think there's a lot of first home buyers sitting there thinking 'Buy now because rentals are going to go up'.”

Mr Baron said investors have cottoned on too.

"They are coming back (to Gladstone) because they know they are not going to be able to get these prices again,” he said.

But he said it wasn't just prices bringing buyers in.

"I've been here for five years and I think Gladstone's a great region” Mr Baron said.

"An hour and a half north (and) you have Great Keppel Island, and it will only grow because of our port.

"The future is looking good - it's a nice place.”

While the improving market is great news for home owners, renters may be forgiven for starting to feel a little nervous.

"When (LNG plant) construction finished, we were left with 2,000 odd rental properties,” Mr Baron said.

"Now we are down to about 600 for the region.

"As new projects start up those 600 properties aren't going to go around.”

Originally published as Estate agents agree: Gladstone market on the rise