The Rockhampton Region is building towards a bright future, with the latest figures showing a dramatic upturn in land purchases and development applications.
Building and Plumbing searches are up more than 50% compared to the same period last year. Similarly, development applications have risen by a third and since June over 250 lots have been sold, are under contract or on hold.
Rockhampton Regional Council Mayor Margaret Strelow said she was pleased – but not surprised – with the growth.
“This is good hard evidence to support what we were hearing anecdotally,” Mayor Strelow said.
“We also have the Gardens, Edenbrook, Forest Park and Riverside estates constructing even more residential blocks in the coming months to meet this growing demand.”
Pat O’Driscoll, Principal of Pat O’Driscoll Real Estate, said the interest in the region wasn’t just from local developers.
“The current growth being experienced in local established industries, including coal, education and tourism, and new employment opportunities being produced due to Local, State and Federal infrastructure commitments throughout the region, has resulted in the Rockhampton Region being in the spotlight and attracting the interest of not only local, but national developers. They are seeing opportunities to reignite feasibility studies for residential land subdivisions and associated house and land packages,” Mr O’Driscoll said.
“We as an Agency have seen a significant increase in requests by local and national developers to source development opportunities, including land and medium density to high rise apartment sites.
“The general consensus from the broader development market is that the Rockhampton Region is entering a very strong growth cycle and as such, developers are motivated to take hold of this opportunity.”
Mayor Strelow said Council strongly backs local development with Advance Rockhampton driving home our advantages.
“Council has helped drive this growth through our development incentives and our Housing Construction Grant. But of course it is the big projects such as the Shoalwater Bay development and the roadworks coupled with the upturn in the mining industry which have seen us so well positioned.
“We shouldn’t underestimate the efforts that our businesses have made to put themselves front and centre in the mining industry either. Adani are the quiet achievers and their contractors are steadily making their presence felt.
“This growth is great news for everyone in our region – from builders and tradies to retailers and restaurants.
“There’s no doubt 2020 has been a tough year in many ways, but I am confident our resilient community and businesses will come out of it even stronger than before.”