A drop in homeownership numbers could spell good news for investors of real estate in Rockhampton.
Data from Bankwest's 2013 First Time Buyer Deposit Report showed that the number of first time buyers in Queensland fell by 4,256 individuals during October when compared to the same time last year.
That marks a 22 per cent drop in first time home buyers.
This, along with declines in neighbouring New South Wales, can partly be attributed to the abolition of the first time home buyer grant, according to Bankwest Executive General Manager of Retail Mark Reid.
"NSW and Queensland were the only two states to abolish the first home owner grant for established homes in October 2012 and both have seen large drops in first time home buyer activity," Mr Reid said.
While this may be less than favourable news for new home buyers, it does present an opportunity for current owners.
With less people buying homes, there will likely be more need for rentals. This means that investors in rent property in Rockhampton may see higher demand.
In turn, higher demand will mean the chance to increase rental rates and bring in more income, a win-win for property owners.
THE Queensland Government delivered on its promise to support manufacturing in Central Queensland, with the opening of a new Manufacturing Hub at Rockhampton’s CQUniversity campus on Tuesday. Minister for Manufacturing Cameron Dick (who was joined by CQUniversity senior deputy vice-chancellor Alastair Dawson, Member for Rockhampton Barry O’Rourke and Member for … Read more
Despite the 2020 market hitting the ground running, sales have started off low with only two sales breaking the $500k mark in the last week. Most sales, apart from a handful on the coast, failed to fetch prices higher than recent sales suggesting Rockhampton is still some way off former … Read more