Suburb spotlight: Rockhampton prices remain stable

Located on the Fitzroy River, the city of Rockhampton has remained stable over the past few months, although investors have kept their eyes peeled with Terry Ryder supporting it as a good place to invest.

Ryder says Rockhampton is affordable and considerably cheaper than both Mackay and Gladstone, with several suburbs median house price below $250,000.

It has military economy, a power station, a university, plenty of tourism and two big abattoirs.

The median house price in Rockhampton City is $200,000, remaining stable for the past four months, according to RP Data.

The city peaked in 2008 at $232,500 and peaked again last year at $225,000.

The median rent for a house is $280 - which has also remained stable for the past four months - and reflects a 7.3% rental yield.

A two-bedroom home at 153 Kent Street (pictured below) is currently on the market for $219,000.

Situated on 172 square metres and two blocks from the city, it last traded in 2006 for $125,000, reflecting an annual appreciation rate of 7.46%.

The listing says the property is currently tenanted, having last been advertised in 2010 for $230 - reflecting a 5.46% rental yield.

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A little further up the street is a three-bedroom home at 190 Kent Street (pictured below).

It is currently on the market for $257,000.

It lasted traded in 2010 for $150,000, reflecting an annual appreciation rate of 15.25%.

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Unit prices are a little bit more expensive, with the median unit price remaining stable for the past two months at $325,000.

Unit prices peaked in 2010 at $515,000 and last month the median asking rent was $520, which has since dropped to $420.

Ryder warns that dwelling approvals almost doubled in the financial year 2013 so investors should keep an eye on vacancies.

Ryder also says to check flood maps before signing a purchase contract.

Nicola Trotman

Nicola Trotman

With a penchant for the written word, Nicola has built a career doing just this – now Creative Director at thriving Melbourne-based PR agency, Greenpoint Media.

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