Well, hasn’t 2020 been a rollercoaster ride for the Gladstone market with so many highs and lows to kick start the year. January kicked off with a bang in our local market with plenty of buyer activity which lead to plenty of contracts. Considering January is often a challenging month in Real Estate, with school holidays and locals escaping Gladstone for their family holidays it was great to see so much movement in the market. But to make things even better, February saw a record number of sales within the LOCATIONS estate agents office. The team made a total of 26 sales which, to date is the highest selling month in LOCATIONS’ young but promising history.
Properties were receiving multiple offers, buyers were snapping up properties left right and centre which was a promising sign moving forward for the Gladstone market. Our team also sold plenty of properties off market over this time which was a great result for our vendors as they were receiving above list offers while saving money on marketing. Combining the number of sales from the January – March period as well as all the buyer activity in the market plus whispers of future projects and this saw our market starting to shift in the right direction which is up.
THEN RONA ENTERED THE ROOM
Then came COVID19. No more open homes…no more onsite auctions…restrictions to private inspections…these were all speedbumps that we had to navigate as a team and thanks to our fearless leader, Alicia and our management team we immediately started to adapt to a new way of life in real estate. And this is where the story changes and for the better. The Gladstone market has already kicked back into gear. After a few weeks of uncertainty, our buyers have gained there confidence back and are making the move while interest rates are so low and before the market starts to rise.
Rent continues to strengthen which is bringing plenty of tenants into the buying market as they are ready to start to pay their own mortgage. Record low interest rates have made mortgage repayments that much easier for buyers which has brought plenty of investors back to our market which is a sign that we are due for an increase in the coming 12 – 24 months.
THE GLADSTONE BUBBLE
Gladstone locals always say that we are in our own little bubble and in this pandemic our little bubble has certainly saved our market which is such a relief for local homeowners. Buyer activity has increased substantially, and I am excited to see the number of contracts that are written up in the month of May. I would personally like to thank all the team at LOCATIONS estate agents for having each other’s back in a once in a lifetime event and while there have been some lows, these have been hugely outweighed by the number of highs.
Look out Gladstone, I can smell something in the air and it isn’t QAL…it’s the Gladstone market moving in a better direction and that is UP, UP, and UP!