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Fewer home buyers a good thing for Rockhampton property owners

By David Bell

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.

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