Lowest property prices in a decade in Gladstone results in increased sales activity: HTW

Lowest property prices in a decade in Gladstone results in increased sales activity: HTW
Lowest property prices in a decade in Gladstone results in increased sales activity: HTW

Gladstone market activity shows signs of increased sales activity leading to cheaper property prices, according to Herron Todd White’s latest monthly market report.

The property advisory firm says that values in Gladstone has not been this low in a decade.

"It really doesn’t matter which market sector you pick, most have had increased sales activity over the past couple of months and the main reason is that it is so cheap! Values in Gladstone have not been this low in over a decade," the report states.

The most active market sector is the sub $250,000 sector. Purchasers in this price bracket comprise mostly owner occupiers, many of whom are first home buyers.

One example would be a three bedroom home at 11 Hansen Crescent that is for sale for $195,000.

This type of money will get you an older, modest 3-bedroom high or low set home.

The established suburbs of New Auckland, Clinton, South and West Gladstone are where most activity is occurring.

Another active sector is for modern 4-bedroom homes. There has been a new wave of sales for standard 4-bedroom, 2-bathroom homes in modern estates selling for sub $300,000 however most of the stock is priced above this.

Investors have also re-entered the market. There have been a number of 1980s and 1990s 2-bedroom townhouses sold in and around the central suburbs of South and West Gladstone.

The value level for this stock is mostly sub $100,000.

Property with the lowest amount of activity is and always has been the prestige market. Prestige dwellings are generally tightly held which of course is why there is limited activity.

"We are aware however of two prestige homes currently on the market which have garnered good interest according to selling agents," the report said.

Pricing and buyer feedback on these properties suggests that the prestige market has finally caught up with the rest of the market and is now at a more realistic pricing level.

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Gladstone Htw

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