News

Rocky proves prime real estate in latest REIQ report

Kas Woch sold this Wood St home in Depot Hill for $107,000 in August.
Kas Woch sold this Wood St home in Depot Hill for $107,000 in August.

THE REIQ Queensland Market Monitor has found Rockhampton's median house price for the June quarter was the lowest in the state at $260,000 for a three-bedroom home, a figure matched only by Bundaberg.

Kas Woch Real Estate principal Kas Woch said the findings were reflective of what agents had experienced in the local property market.

He said while the cheaper houses had suffered, the more expensive, high-quality homes targeted at owner-occupiers retained their value.

"The homes people want to live in are attracting decent prices - not going up, but people are getting their money back and probably a bit better," he said.

"The older homes, investor targeted, dropped dramatically and dragged the median prices down."

Mr Woch predicts house prices to increase within 12 months as southern investors realise their rental yield would be greater in Rockhampton than city centres such as Sydney and Melbourne.

"What we found in 2003 when we were out of line with rest of the state, eventually people down south come up and bought property," he said.

"If you get enough people up here property prices will go up.

"We do need employment to create that demand."

Mr Woch said between 2003 and December 2007, Rockhampton saw an increase of 20-22% each years for four consecutive years, driven by southern investors.

"We have got property we can sell at $130,000 and they would rent around $200 to $210 a week; returns way above what they (investors) get in Sydney and Melbourne.

"They will realise we are getting a return of 3%; here you can get 7%.

"It's also a prime time for first home owners to rent in the market - in a lot of cases the repayment of $130,000 is less than the rent they are paying.

"That's really where we are at the moment in the marketplace, reality says it cant remain that way forever."

Topics:  housing affordability, kas woch, property market, real estate, reiq


Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

McAleese closes Biloela depot, shuttle run

McAleese Biloela manager Mick Watson outside the soon to be closed Biloela depot.

Embattled transport company closes regional offices.

Biloela man pleads guilty after Kariboe St lie-down

The man pleaded guilty to charges of committing a public nuisance and obstructing a police officer.

Man pleads guilty to public nuisance, obstructing a police officer.

$1200 fine for Thangool man caught with marijuana plants

A generic photo of marijuana plants.

A Biloela woman also pleaded guilty to possession of an ice pipe.

Local Partners

Callide Dam gates pass safety test

SunWater says "everything went to plan" and the release was around 30 megalitres as expected.

Aviators ready for Thangool Fly-In

The Thangool Fly-In will feature displays and flights across the long weekend.

Three-day event expected to attract up to 80 planes.

McAleese closes Biloela depot, shuttle run

McAleese Biloela manager Mick Watson outside the soon to be closed Biloela depot.

Embattled transport company closes regional offices.

Biloela man pleads guilty after Kariboe St lie-down

The man pleaded guilty to charges of committing a public nuisance and obstructing a police officer.

Man pleads guilty to public nuisance, obstructing a police officer.

$1200 fine for Thangool man caught with marijuana plants

A generic photo of marijuana plants.

A Biloela woman also pleaded guilty to possession of an ice pipe.

SunWater to test Callide Dam gates

Callide Dam, May 2015 Photo Emma Clarke / Central Telegraph

Callide Dam will release 30 megalitres of water on Wednesday.

Cattle judging draws crowds at Moura Coal & Country Festival

Grand Champion Bull, Kenrol Jesseppi 2736 (left), exhibited by Kenrol Brahman Stud.

Kenrol Brahman Stud won Most Successful Exhibitor.

Magpie swooping season underway

Adam Burling is getting used to being swooped on his morning ride.

September is the breeding birds' peak swooping month.

Classic car auction draws buyers from US, Dubai

"He wants everyone to enjoy the cars, the collection got too big'

Marvel's Luke Cage S1E2: Code of the Streets review

Simone Missick and Mike Colter in a scene from the TV series Marvel's Luke Cage. Supplied by Netflix.

*WARNING: spoilers if you haven't seen Marvel's Luke Cage*

Kim Kardashian West 'sick of talking about Taylor Swift'

Kim Kardashian West is sick of talking about Taylor Swift.

Justin Bieber ordered to attend Miami deposition

Justin Bieber has been ordered to travel to Miami for a deposition

Sludge metal heaven served up across Australia

Black Rheno bring their stripped back sludge metal through regional Australia.

Black Rheno to hit a town near you

Prog metal upstarts to tour Australia

Caligula’s Horse, one of the country’s most exciting and innovative progressive bands, will hit the road for a national tour in November.

Australian prog masters announce national tour

Debra Messing wants to do a 'naughty' Will and Grace reunion

'Will & Grace' star Debra Messing wants a "naughty" reunion

Beach-side real estate starts at $85k on Fraser Coast

HERVEY BAY REAL ESTATE: You can buy this townhouse in Scarness for under $300k.

Live your beach-living dream locally.

$40million hotel, shops development project for Mackay

Mt Pleasant hotel and retirement accommodation, proposed at 194-202 Malcomson St.

$40m development to take Mackay to 'the next level'

Property 200m from ocean selling for just over $100K

BEACHCOMBER PARK: Work has started on a new $19.2 million development at Toogoom.

The estate's developer is offering huge discounts for early buyers.

UPDATE: Former rodeo champ's sale rained out, now back on

Larkhill local Ken Consiglio is having an auction of most of the things on his property.

'People kept showing up and we had to turn them away'

First stages of $25 million housing development underway

New development on Madsen Rd - The Springs.

The blocks of land are much bigger than usual

Couple build their own 'tiny house' for $45k

Holly Bowen and Oli Bucher built their "tiny house" themselves, only hiring a plumber and an electrician. Photo/supplied

The house, which is built on a trailer and can be towed.