One of Australia’s most recognised real estate brands Raine & Horne has pointed to Gladstone in Queensland as an increasingly attractive location to buy due to its budding tourism sector, burgeoning port activities and real estate affordability.
Principal of Raine & Horne Gladstone Mark Patton said the town’s property values are presenting investors and owner-occupiers with an opportune time to enter the market in a location with “outstanding potential”.
“Gladstone is on the edge of the Southern Great Barrier Reef and more cruise ships are bringing additional tourism dollars and jobs to the port,” Mr Patton said.
“The extra jobs will benefit the real estate sales market and we expect to see the current median price of $375,000 to start to head north.”
According to Mr Patton, the Gladstone region – which has a growing population of around 73,000 people – has been regularly written off as a ‘one trick economic pony’ by many experts who claim the town is too dependent on mining.
“This is just not true. It is Queensland’s largest multi-commodity port which handles the export of more than 36 different commodities to the Central Highlands,” he said.
Gladstone Area Promotion and Development has tipped tourism to become a major growth sector for the region, with 17 cruise ships booked to dock in its harbour in the next 18 months.
“The target is set to increase to around 50 per year in the next five years, with other cruise lines showing amazing interest in visiting our port,” chief executive officer Darryl Branthwaite said.