Rockhampton property forecast for 2023

Rockhampton and its collection of local postcodes experienced impressive growth in property values during the pandemic and held stronger than many other parts of the country during 2022. 

While it’s never possible to tell the future with absolute certainty, if you’re thinking about buying or selling in the area, you’ll be interested to see the forecast for 2023. 

Rockhampton property prices in 2022

While many capital cities saw downward trends last year, the average values of Rockhampton homes increased. 

Recent data from price tracking website showed Rockhampton house prices defied trends in 2022 to rise by around nine per cent. In addition to this, auction and private treaty clearance rates held strong, all the way through to the end of the year. 

Average rental prices also rose, by an average of 7.46% across two, three and four-bedroom houses. 

The above figures are great news for local homeowners, especially because Rockhampton’s growth has been reasonably steady and comfortable. This means there is less risk of a peak followed by a drop, which can be frustrating for buyers and investors. 

It’s also interesting to note how the ‘prestige’ market on the Capricorn Coast moved in 2022. Buyers who were relocating from interstate or from Brisbane and the Gold Coast are happy to pay prices close to $1 million for a premium home. They are seeking a better lifestyle and many are able to work remotely, meaning they have a healthy budget. 

If you’re looking to sell in Rockhampton this year and want to achieve top dollar, taking some time to invest in upgrading your property makes sense. Buyers will pay a premium for homes that are ready to move into and are presented as modern and comfortable. 

Rockhampton property: Looking forward 

The forecast for a healthy property market in 2023 takes local jobs and infrastructure into account. As the ABC recently reported, the Rockhampton/Capricornia region is experiencing a boom of approved and funded civil and private works, across projects including the $1 billion Rockhampton Ring Road and the Military Training Area upgrade. 

If you made a purchase before the pandemic (or even during the pandemic), you have excellent chances of selling for profit. Likewise, if you’re looking to buy in Rockhampton in 2023, you should see your investment generate a good yield from your tenants. 

Why sell in Rockhampton? 

Right now, buyers are looking for opportunities in the area so there is plenty of interest from local and out-of-towner families. 

If you want to take advantage of the influx of incoming workers and residents, and sell before the market begins to cool, the start of 2023 is an excellent time to have a conversation with your local real estate agent. 

Why buy in Rockhampton?

Promising new infrastructure and economic growth are set to make Rockhampton the place to be in 2023 and beyond. 

As a destination, Rockhampton is the fourth biggest city in Queensland, giving it an excellent mix of attractions and amenities. It is also one of Queensland’s oldest cities, with plenty of heritage and history amongst its streets. 

Rockhampton has a thriving cultural centre and proximity to national parks and caves. The Fitzroy River is a highlight for those who love to fish, especially for barramundi. For younger residents, there are also lots of entertainment venues including bars, pubs, nightclubs, and live music destinations.

Moving to Rockhampton offers value for money and a comfortable lifestyle, which is why the property forecast is strong in 2023. 

As our real estate experts explained recently in CQ Today, with good yield for investors and outstanding value for families, Rockhampton is on ‘stable ground’. 

Get in touch to talk to us about buying or selling property in Rockhampton today.