Why Rockhampton is the one to watch
Anyone with an interest in keeping track of Queensland's property hot spots can't help but have heard plenty about Rockhampton over recent years – and with good reason.
Located in an enviable position and benefiting from the state's resources boom, investors have found their feet in Rockhampton, with many more expected to follow suit.
The city is far from just a hub of business activity, as it has also become one of the most up and coming tourist centres in the country, as well as a hub for cultural activity.
There is no shortage of reasons to invest in property in Rockhampton and with efforts underway to bring further benefits to the city, this is a trend that is only likely to continue.
Rockhampton – a snapshot
Rockhampton has a diverse economy, which has contributed to its success throughout generations.
Agriculture was traditionally the main industry in the city, although this has diversified considerably during more recent times.
Tourism has become a major economic driver, while the services sector has likewise come into its own.
Strong transport links are one of the major draws to Rockhampton – it is an important hub for connecting the Central Highlands to other parts of the state.
The national and state highway system also brings enormous benefits to the region, allowing easy access to the state capital of Brisbane, as well as many other parts of Queensland.
A property hot spot
Property investment analysts have had their eye on Rockhampton for many years – and it is not difficult to see why.
A recent report from Terry Ryder of Hotspotting.com.au suggested that Rockhampton continues to be the one to watch, with some parts of the city offering substantial returns.
Berserker, for example, has seen growth in its median house price average of 12 per cent a year over the past decade – and rental returns are just as strong.
In this suburb alone, Mr Ryder revealed that the median rental yield stands above 6.5 per cent, with the area benefiting from a low vacancy rate and strong rental prospects.
People are attracted to the area because it has an abundance of schools and two major shopping centres – both features that people look out for when selecting a rental property.
Opportunities for investors are rife as well, especially as the average house price stands at less than $250,000.
Rockhampton's appeal is unlikely to die down any time soon, as efforts are currently being made to make the city sustainable for many years to come.
Rockhampton Regional Council has launched its Towards 2050 Community Plan, which involves local people in helping to decide what will help to shape the city in the future.
Property investors might find they have greater competition in the near future, so there is no time like the present to snap up the perfect real estate.