Raine & Horne, Kingaroy Consultants on the Property Market
The Property market in Kingaroy has confronted challenges like other markets generally in recent times however, the area has remained quite buoyant to date underpinned by strong population growth in the area.
The Reserve Bank of Australia’s decision to leave official interest rates on hold has allowed some confidence to return to the market in our area. Realistic vendor expectations are also allowing a number of affordable, good value home buying opportunities in the area.
As with other regional centres, the supply of land in the CBD for development remains tight. Interest in well-positioned future re-development sites in Kingaroy town-centre frame is anticipated to always be competitive.
Investors have also taken the opportunity to continue to invest in the area as rental investments yield about 5% and residential vacancy rates remaining very low. The region has delivered steady population growth of about 1.5% a year over the last 5 years, against the trend of population decline in many rural areas of Australia. National retailers are continuing to establish themselves in the area.
Kingaroy employment remain stable with retail, mining and mining related industries continuing increase their work force. The lifestyle change is still attracting families to the area.