All Topics / General Property / Rockhampton’s vacancy rate double in few months

Viewing 3 posts - 1 through 3 (of 3 total)
  • Profile photo of pcnpcn
    Participant
    @pcn
    Join Date: 2013
    Post Count: 13
    October 19, 2013 - 3:47 am

    Hi all,

    I am looking to invest in Rockhampton (Norman Gardens). The vacancy rate in this area has been around 1.3% last few years however 

    now it jumps to 2.3% in September 13. 

    Does anyone have any idea why it jumps so fast? This region looks like a good area to invest except the vacancy jump recently.

    Thanks,

    PC

    Profile photo of FreckleFreckle
    Blocked
    @freckle
    Join Date: 2012
    Post Count: 1,680
    October 19, 2013 - 5:37 am

    Unwinding of the resource construction boom would make sense. Median house prices (Norman Gardens) dropped with a thump last year (10%) and units are tracking south..

    Keep looking I'd say.

    Profile photo of ArnoldusArnoldus
    Participant
    @arnoldus
    Join Date: 2012
    Post Count: 4
    October 19, 2013 - 11:54 pm

    The median price in Norman Gardens was being propped up, perhaps to an abnormal level by the sale of "premium" houses/estates east of Norman Rd through 2010 – 2012.  I'm a bit bearish on Rocky at the moment, there's lots of supply coming online and heaps more in the pipeline, and the council de-amalgamation and ridiculous rates rises for IP holders on top of the mining downturn in CQ, it's hard to see much growth in rents or prices unless there's a big change in fundamentals.  

Viewing 3 posts - 1 through 3 (of 3 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.