CQ towns named most affordable in nation's housing market

GLADSTONE has been named as the most affordable housing market in the country in a new international report.

Aerial View overlooking Kin Kora residential area, Gladstone.Photo Brenda Strong / The Observer. Picture: Brenda Strong GLA040712VIEW

GLADSTONE has been named as the most affordable housing market in the country in a new international report.

The Fifteenth Annual Demographia International Housing Affordability Survey said ranked Gladstone as number one in Australia and 49th internationally.

It said Gladstone had a a median house price of $260,000 and a median household income of $90,000.

Coming in as the second most affordable housing market was Rockhampton, with a median price of $265,000 and median household income of $70,500. The new Demographia survey, for the third quarter of 2018, measures housing affordability by comparing median prices with median household incomes.

Mackay also ranked among the top five, coming in as the fifth most affordable housing market in Australia and ranked 178 internationally.

The sugar city was reported as having a median price of $335,000 and a median household income of $77,900.

Of the 23 Australian cities and towns included in the Demographia report, only Gladstone was deemed to be affordable.

Rockhampton was deemed "moderately unaffordable".

REIQ zone chairman for Rockhampton, Noel Livingston said the Beef City's housing market was "extremely affordable" at the moment.

He said Gladstone's market was completely different.

"If there is a major project going on in Gladstone and it finally finishes and they lose around 3000 jobs, that has a massive effect on the economy and vice versa," he said.

"If there is a major project going on in Gladstone and it finally finishes and they lose around 3,000 jobs, that has a massive affect on the economy and vice versa.

"However, the opportunity for first home buyers and rental investors at the moment in any price range is super. Unless there is more competition, then that is going to change."

Mr Livingston also believes big upcoming projects in the region, such as the Ring Road, Rookwood Weir and possibly the Adani Carmichael Mine would play a big part in the real estate market moving forward.

"Anything that creates jobs is going to be reflected in the marketplace because those people will need housing," he said.

Originally published as CQ towns named most affordable in nation's housing market