Demand for rental real estate in Rockhampton continues to remain strong as the vacancy rate sits below the level that would be considered balanced.
Data from the Real Estate Institute of Queensland (REIQ) has found that the Rockhampton regional area sat on a rate of 2.7 per cent in the December quarter – below the three per cent which is the ideal percentage.
The REIQ also discovered that for the three months to December, demand for rentals was high during a period of historically low interest which has been attributed to the holiday period.
REIQ chief executive Anton Kardash said demand had outstretched supply for most of 2012 and it seems that trend is set to continue.
He explained: "While sales in the property market did begin to improve in the second half of last year, the removal of the First Home Owners Grant in mid-October resulted in a large number of would-be homebuyers remaining in the rental market at the tail-end of last year."
There was a 33 per cent drop in the amount of first home buyers entering the market in October and November, according to Australian Bureau of Statistics.
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