Townies going bush to drive up property values this year

first_imgAnd major street appeal like this.He said there were “plenty of owner-occupiers who are cashing out of Sydney after enjoying incredible gains over the last five years”.“They are selling a property in Sydney for $2m, which enables them to buy a fabulous house in Port Douglas for $400,000-$450,000. This transaction leaves these people with plenty of cash in the bank for further investment or to fund a decent retirement.”A $330m boost in construction work around three Central Queensland coal mines and a positive outlook for coal were expected to lift other Queensland centres this year including Mackay, Rockhampton, Bundaberg, Gladstone and Hervey Bay, according to Des Besanko of Raine & Horne Mackay, Mackay Beaches and Moranbah.“Some of the mines are coming out of mothballs too, because of higher commodity prices,” he said.Places like Gladstone operated as a commercial, engineering and industrial service hub for miners, with companies already lifting their workforce numbers.“The region’s fledgling LNG sector, a spike in cruise ships docking at Gladstone Harbour, and the improved outlook for resources will contribute to a more active year for Gladstone property in 2018.” Especially when the complex has a sport centre like this one. A unit at 29 Portsea/70 Davidson Street, Port Douglas, sold for $225,00 last week.TOWNIES going bush to earn a living with their gadgets will drive growth in regional property values this year, according to latest predictions.Growing economic diversity and technological improvements were allowing more “city slickers from Brisbane, Sydney and Melbourne to go bush and earn a living”, according to Raine & Horne Queensland general manager Steve Worrad.“Improved infrastructure such as better internet connectivity is boosting the appeal of living and working outside capital cities, while it appears stronger mining conditions will also help values in some Queensland regional growth hubs in 2018.”Regional Queensland’s affordability held “major appeal” given values started at less than $200,000 in some regional centres.“This figure won’t even pay for the stamp duty on some properties in Sydney and Melbourne,” he said.Queensland winners include the Far North Coast which is drawing cashed up seachange buyers like stockbrokers and web designers and Central Queensland where mining and construction work has picked up – with benefits flowing to other centres in between.David Cotton of Raine & Horne Mossman/Port Douglas said many of city slickers relocating continued to be in the workforce or operated small businesses.“The NBN is being rolled out, so we have stockbrokers, futures market traders, web designers, and other freelancers, who don’t need to reside in a major city to stay connected,” he said. “The surge in microbusinesses and freelancers operating from Port Douglas is another factor underpinning real estate activity in our region.”More from newsParks and wildlife the new lust-haves post coronavirus22 hours agoNoosa’s best beachfront penthouse is about to hit the market22 hours agoThis two bedroom unit at The Port Sea in Port Douglas was a steal at $225,000.last_img