Rockhampton and its property market has been largely unaffected by the pandemic and indeed has benefited from the Exodus to Affordable Lifestyle which has been enhanced by the virus lockdown phases. These attributes, plus a roll-out of numerous major construction projects, is turning Rockhampton into a magnet for southern migrants and first-home buyers.
Property prices have been rising throughout 2020 but remain highly affordable and vacancies are tight – mostly below 0.5%.
Rockhampton’s diverse economy is being boosted by the resources sector with construction of the Adani coal mine well under way. In the last 12 months, contracts totaling $1.5 billion have been awarded to local operators. Other projects lifting the economy include the transformation of the CBD, upgrades totaling $1 billion to major transport routes, the $2.5 billion redevelopment of the Australia-Singapore Military Training centre at Shoalwater Bay and the emergence of new industrial estates.
Considered the ‘Beef Capital’ of Australia, Rockhampton is also the gateway to Capricorn Coast tourist attractions and a centre for manufacturing, mining and the military.
Overall, Rockhampton presents as an affordable market with good growth prospects. The Queensland Infrastructure Plan published by the State Government nominates Rockhampton as the primary service centre for Central Queensland (with Gladstone as the industrial hub). Overall, Rockhampton presents as an affordable market with good growth prospects.