A boost on the way for Rockhampton
The Sunshine State has seen a lot of activity in the past year. From a number of high-value projects getting off the ground, housing approvals picking up and property price rises, there's a lot that has made investment property owners turn their head to this part of the country.
While many investors head to the state capital to purchase rental properties, there is much that regional areas offer, too. One stand-out area is Rockhampton, which is about to see a lot of future development.
New road paves the way to development
The Rockhampton Regional Council, in partnership with the state government and Central Queensland University (CQU), will construct a large intersection near the CQU area.
This four-way intersection will not only help make the area better for commuters, but supply many economic benefits too. While it's being constructed, the project will provide jobs for locals. And once finished, the intersection will be the first step toward transforming the CQU area into a thriving mixed-use hub for residents and businesses alike.
The government hopes that the CQU area will see between 2,000 and 2,500 homes built in the future, aiming to attract more people to this growing region - a plus for investors.
"This will be a huge boost for the economy of Rockhampton and create new jobs for the city," said Deputy Premier Jeff Seeney.
Member for Keppel Bruce Young noted that the funding for this project will also be a plus for local businesses and the development of the town.
"The road project will also support the construction of affordable housing within walking distance of the Central Queensland University, adding another string to the bow of the educational offering at CQU," Mr Young said.
CQU Priority Development Area
In early 2013, the Queensland government approved a Priority Development Area (PDA) development scheme for the Central Queensland University (CQU), at Rockhampton. According to the government, this new PDA will "integrate educational, cultural, retail, indoor and outdoor recreational, commercial and community facilities with a wide range of residential developments."
The 189 hectare site is situated 5 kilometres outside of the Rockhampton CBD, and will include Parkhurst and Norman Gardens.
Over the years, this region will see development that produces in excess of 1,000 homes, including detached and multi-unit dwellings, offering lots of variety for keen investors.
With all of this development expected in the future, Rockhampton is a place to watch for property investment!