Report shows drop in Gladstone vacancy rates

GLADSTONE'S troubled property market is seeing signs of recovery from the mining downturn with reports vacancy rates and days houses are on the market dropping.

GLADSTONE'S troubled property market is seeing signs of recovery from the mining downturn with reports vacancy rates and days houses are on the market both dropping.

Property valuers Herron Todd White claimed in their May report the Gladstone region's property market has had an increase in activity in recent months.

But it's not all peachy for home owners, with the house prices still reportedly at the bottom of the market.

"The key driver at the moment is affordability," it reads.

"The market has seen a changing of the guard in the past few months with increased confidence surrounding the economy and jobs.

"Signs the market is beginning to move forward include decreasing vacancy rates and decreasing days on the market.

"Value levels for all property types are the lowest they have been in over a decade and this has resulted in significantly increased activity," the report says.

Meanwhile Rockhampton has also had improvements to vacancy rates and buyer interest in the more popular suburbs.

But to see more improvements the property analysts said we needed to see "real progression" of the mining industry.

Originally published as Report shows drop in Gladstone vacancy rates