House prices to rise considerably in Gladstone

Tuesday 22 May 2012

Article by Mozo

Gladstone is one of a number of towns that has benefited considerably from the mining boom in Australia.

The region continues to attract a huge number of workers and has inevitably had an impact on the property market in the area.

According to the new Gladstone Region Housing Quarterly Report, there will be more than 6,000 "fly-in, fly-out" workers in Gladstone by mid-2014, the Courier-Mail reports.

This would be a sharp increase on the current figure of 2,300 and property prices in the town are expected to rise sharply.

Home loan customers will find it increasingly difficult to secure affordable accommodation in this particular part of Queensland, despite the fact that plenty of new house building developments have received the green light.

"Residential dwelling approvals for the year to December 2011 were the highest on record for Gladstone Region, with 956 approvals comprising 786 houses and 170 other dwelling types," the report noted.

House prices to rise considerably in Gladstone

It is a similar story in most mining towns across the country, as the demand for housing in such areas has rocketed.

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