Buyer demand swamps Calliope and Tannum Sands property markets

8 August, 2011

Buyer demand swamps Calliope and Tannum Sands property markets


The resources boom is not only driving the Gladstone real estate market, but nearby Calliope and Tannum Sands as well, according to leading real estate firm Raine & Horne.

Raine & Horne Calliope / Tannum Sands sales consultant Liana Wynne said there was fierce competition for homes in Calliope and Tannum Sands, which are about 15 minutes from Gladstone.

“Currently, some properties are selling a day after hitting the market, making Calliope and Tannum Sands one of regional Queensland’s good news real estate stories," Ms Wynne said.

Four bedroom homes are the most highly sought after and when it comes to new developments, properties are selling as soon as a slab is laid," she said.

The region’s major resources projects, such as the $16.2 billion Gladstone liquefied natural gas (LNG) project, and investment in the region by Rio Tinto and QGC (Queensland Gas Company), are proving key real estate growth drivers.

“Initiatives such as the LNG project are underpinning the local residential property market and given the massive influx of employees they’re attracting, we don’t see demand for homes dropping off for the remainder of 2011," Ms Wynne said.

In more good news, Ms Wynne reported that companies such as engineering and construction firm Bechtel wererenting homes, hotels, motels and caravan parks in the region for continuous one and two year periods.

As a consequence, rental vacancy rates in the Calliope and Tannum Sands were close to zero, according to Ms Wynne.

“The minimum rental now offered by our office is $450 per week for a three bedroom home, while it can cost up to $600 per week to rent a four bedroom home.

“People are looking for homes wherever they can find them, and in some cases tenants are even pooling their money to pay rents up to $1000 a week.”

This is great for cashed up investors and Ms Wynne said two beautiful homes listed by Raine & Horne Calliope / Tannum Sands, with direct views of the Boyne River, were in red hot demand.

“The first of these is a four bedroom, two bathroom home at 26 Riverside Drive, Tannum Sands, which is expected to sell for around $950,000.

“This property is only 12 months old and we believe it represents an attractive investment option, with the possibility of a rental return between $1000 and $1200 a week, which represents a potentially healthy gross yield between 5.5% and 6.6%.”

Similarly, 21 Riverside Drive, Tannum Sands, which boasts four bedrooms, two bathrooms and a four car garage, has plenty of appeal for investors.

“This home is on the market for $1.2 million, but we expect it to rent for between $1500 and $1800 a week, which represents a yield of between 6.5% and 8%,” Ms Wynne said, adding that both Riverside Drive properties would be ideal for mining companies and their executives.

“Add the great lifestyle features offered in Calliope and Tannum Sands, and it is clear the region has a lot to offer as a place to live and to invest.”

For all your property needs contact Raine & Horne Calliope / Tannum Sands on (07) 4975 6020.

Raine & Horne is an iconic Australian property firm, with more than 360 offices worldwide. Also an established Superbrand along with Qantas, Vegemite, Woolworths and Myer, the company has four distinct property service brands including Raine & Horne Residential, Raine & Horne Commercial, Raine & Horne Rural and Raine & Horne Financial.

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For further media information contact:

Liana Wynne, Sales Consultant Raine & Horne Calliope / Tannum Sands, 07 4975 6020 or 0447 002 698

Anna Truman, National Marketing & Communications Co-ordinator, 02 9258 5448