Premium Content
Subscriber only
Central Queensland property markets continue to reflect high demand and continued growth, according to the latest real estate report by Herron Todd White.
The March 2021 Month in Review placed Rockhampton and Gladstone in the ‘start of recovery’ category industrially.
In Rockhampton, the review forecast increased industrial employment growth thanks to coming infrastructure works.
“The price of coal has been declining over the past 18 to 24 months, showing greater instability,” it said.
“This may cause some uncertainty in the industrial property sector as industries that support mining have less certainty, however, the rate of growth in industrial markets in Rockhampton is now more likely to be dependent on the timing of infrastructure projects coming to fruition.”
There s also a current contract on Centrelink at Caloundra for just over $8 million. He said the Ochre Health Facility recently sold to an interstate investor for $15.3 million, presenting a net yield of 5.36 per cent. Mr McKillop said it was sold with Ochre Health signing a 15-year lease with options for two 10-year extensions. He said a recent Property Council of Australia report showed the Coast was defying national trends. Vacancy rates for non-CBD markets in Australia increased from 9.2 per cent to 13.4 per cent in the 12 months to January. But Mr McKillop said the Coast s office property vacancy rate fell from 16.7 per cent to 13 per cent during the same period.