Based on recently collated data, property markets on both the Capricorn Coast and Rockhampton Region are headed one way – and that’s up! Across the region, the demand for housing hasn’t been this high in more than 10 years when the mining boom was at its peak.

Following lockdowns in April 2020 there has been strong growth in the Australian housing market, particularly in regional areas such as the Capricorn Coast and Rockhampton. Increased migration to our region as well as fewer residents departing for capital cities, has contributed to lower housing stock on the market and accelerated price increases and shortened days on market.

With $4.6 Billion dollars-worth of major projects contributing to increased employment levels during the region’s decade of development, the demand for residential properties across the destination is soaring with low rental vacancy rates and surging sales.

The region is experiencing increased population growth in response to job opportunities and the Livingstone Shire Council’s 5-year housing demand study has also shown the need to build 330 new dwellings per annum over the next five years to meet housing demand.

Across the region, 2615 houses sold in the year ending December 2020, reflecting a 43.3% increase (791 more houses) that the previous year. A further 319 flats, units or townhouses were sold over the same period, up 41.8% (94 dwellings) compared to the 2019 period.

In addition to the increased volume of sales, the median house price within Livingstone Shire Council has increased 6.9% ($27,500 growth) over the year ending December 2020, with the Capricorn Coast’s unit prices also seeing a significant rise of 29.3% ($65,500). 

While suburbs with larger area properties such as Glenlee, Rockyview and Bouldercombe have seen very high increases in median prices, other suburbs which usually have lower median house prices, including Berserker and Mount Morgan also saw substantial increases in value.

House sales in Gracemere, which has been an affordable, family orientated suburb, doubled (103.3%) between the year ending December 2019 and the year ending December 2020, with median house prices experiencing a modest increase of 5.7% (compared to 15-29% increases elsewhere).

But for people looking to move to our region, there are still many opportunities to secure a property with less dramatic price increases in older, well established suburbs such as Allenstown, Park Avenue and The Range.

Rental properties within the Capricorn Coast and Rockhampton region are also in high demand. As rental vacancy rates decrease, median rents have been increasing (up to 8.3%) over the year for 4-bedroom houses (6.7% for 3-bedroom houses and 8.7% for 2-bedroom flats and units).

Rockhampton-based residential builders Chris Warren Homes are enthusiastic with the escalating trend across the region showing an increase in building approvals for housing developments. 

“We are really starting to see a boom in activity and growing confidence in the region as more buyers enter the marketplace, particularly since the introduction of the Federal Government’s $25,000 HomeBuilder scheme,” Danny Carr said.

“Our team early identified that housing demand was ready to surge in our region, so we have been proactively planning to manage supply issues arising from building supply and labour shortages, increased demand and lack of available land for new development.”

Capricorn Enterprise CEO Mary Carroll believes that our emerging destination has come of age and is really shining as an ideal place to live, work and holiday.

“Aside from the incredible lifestyle offerings available, local industry is stronger than ever with a multitude of employment opportunities being recruited,” Mary said.

Capricorn Enterprise has recently launched the Live Capricorn Coast website - https://livecapricorncoast.com.au/ and Work in Central Queensland website - https://www.workincentralqueensland.com.au/, providing valuable information for those relocating to the region.