What does the Central Highlands have to offer investors?
The Central Highlands has become a property hot spot over recent times, not least for its wealth of employment opportunities and investment in infrastructure.
However, its popularity could soon increase even further, as one particular area has been earmarked for redevelopment.
The Queensland government has officially declared the Blackwater East Priority Development Area (PDA), which will bring a host of benefits to the region.
So what exactly does the Central Highlands region have to offer those interested in Queensland investment property?
Central Highlands – an overview
The Central Highlands local government area was created in 2008 and encompasses four regions that were previously shires – Duaringa, Emerald, Peak Downs and Bauhinia.
During this time, the region has become a popular area for investment, thanks to its proximity to major resources projects.
The Central Highlands is certainly a forward-thinking place to be – the 2022 Community Plan was adopted by the regional council two years ago and hopes to bring further benefits to the area.
The aim is to get local people involved in how they believe their communities should evolve, which means thinking about future infrastructure needs and how regional economic growth can be sustained.
Initiatives like this have the potential to bring enormous benefits to the Central Highlands, which will no doubt entice anyone interested in making a property investment.
Blackwater East PDA
One of the most recent and exciting projects to come to the region is the aforementioned Blackwater East PDA, which is being spearheaded by local government.
The PDA is located approximately 200km west of Rockhampton, giving it excellent access to all the services and opportunities that Central Queensland has to offer.
Residential housing supply in the region is to be increased to meet the growing demand for accommodation in resource-rich communities.
As the state government suggested, people are keen to live in property close to where they work in order to benefit from a balanced lifestyle.
Individuals will be given the chance to have their say on how these extra properties are delivered, while at the same time providing property investors the opportunity to capitalise on the success of the region.
Potential returns on property
Government figures show that in the March quarter of 2011, a three-bedroom house in Blackwater East cost around $700 a week to rent.
This figure is only likely to have increased over recent years, especially as more people relocate to the region in search of employment.
However, the government recognises that many of the properties have three-to-four bedrooms, making it difficult for single people and couples to find accommodation that is practical and affordable.
This is where the real opportunity will lie for property investors over the coming months and years.