Gladstone has certainly picked up as of late and that has caught the attention of the old rogues who follow our market.
What do I mean by rogue you might ask.
These are a different breed of agents and marketeers who have done business in our Gladstone property market. Typically they have little regard to the long and short term consequences of their cowboy type approach to property and the community. Often, hiding commissions in packages and selling ‘ice to the eskimos’, they offer very little value and often leave clients with a trail of disappointment.
When we start to see their marketing material grace the letterboxes of our local clients; sellers and landlords, we know that we should use due care with these organisations. I have experienced this first hand and know that there is a company currently circulating letters in our local area prospecting clients with the promise of cheap fees and marketing as well as buyer databases. Seller beware – do your homework.
If you believe that you have been contacted by an agent, agency or marketer without your permission there are certain processes you can follow to report this behaviour.
Firstly, contact the business and let them know you would like your details removed from their database. If the communication is electronic, you can ‘unsubscribe’ as well. If you don’t receive a response within 30 days or you receive an unsatisfactory response, you can contact the Office of the Australian Information Commissioner (OAIC) which is a government organisation. For more information, visit their website at www.oaic.gov.au.
A Silver Lining
This isn’t such a bad thing. If these external parties are looking at Gladstone again, it reconfirms what we have started to see and feel in our market now for at least the last six months. And to boot, we are eagerly anticipating the March quarter QMM magazine from the REIQ. This publication will further substantiate with data, the decreasing days on market, tightening vacancy rates and overall positive sentiment in our local property market. It has been said a few times now, but literally, there has never been a better time to buy property in Gladstone. Whether you are an investor or a first or second time home buyer, we can see all the tell tale signs that our market has stabilised.
With resources continuing to improve alongside market sentiment and employment, we feel positive that 2018 will finish nicely. We aren’t expecting market jumps by $20,000 and $50,000 but we are anticipating the market to tighten up. Already there is a general acceptance that the market has improved with buyers and sellers aware of pricing and values in the area. This has lead to days on market being reduced and absorption levels improving too. From here, sellers who were looking at financial constraints and pressure to sell can take a step back and reassess options.
Time, finally, is on their side. These people can look to withhold their property from market, which in turn leads to a shortened supply of quality stock in the market available for purchase. For those of you who have followed property markets for some time, you will appreciate that tightened supply on stock and improved vacancy rates spells capital growth and increased rental yield. That is what we are expecting in 2019, all things remaining equal.
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