THE regions’ property markets are tightening in the market indicating a recovery, trending similar to Bundaberg.
After facing a resources slowdown and falling prices, Mackay, Rockhampton and Gladstone may finally be about to see an improvement.
Property analyst for Hotspotting, Terry Ryder, said dropping vacancy rates in those regions is promising.
“The reality is that you are not going to get price growth in a market that has vacancy rates of 5 or 6 or 10%,” Mr Ryder said.
“If vacancies are down then the market is going to be flat in all respects.
Mr. Ryder said a market showing the strongest turn around for those regions was Mackay, with vacancies going down, and sales activity rising.
“We are starting to see actual signs of price growth there. It is kind of ahead of all those other places that were impacted, Gladstone, Rockhampton, Emerald, the Moranbah’s of this world,” he said. “So you have got vacancies down, sales activity picking up and if that continues we are going to get those prices turning around and starting to rise again in the not too distant future.”