Rockhampton’s Riverfront Property in Focus

Rockhampton Riverfront Precinct is one of the city’s most sought-after for so many reasons. Located along the Fitzroy River, the locality offers residents a picturesque waterfront setting and plenty of nearby attractions. 

Despite there being mainly high-rise apartments in the area, locals say there is a strong sense of community in the precinct. If you own a pet and go for a regular morning walk, you’ll soon find you get to know people in the area. This lovely feel is combined with an urban lifestyle that allows residents to walk to galleries, shops, cafes and restaurants. 

With most of Rockhampton’s festive highlights being held by the river, the luxury of living here is being able to walk to festivals and make it home again with very little stress. To add to this, the airport is a four-minute drive away, making central city living ideal for people who have family, friends and work in other parts of Australia. 

At The Agency, we have real estate agents who live by the river and have recently helped members of the community to achieve record sale prices. If you’re thinking of selling your home in the area this year, here is some advice from our team:

Sell Riverfront Property in Rockhampton

Riverfront property is in high demand from professionals and couples as well as retirees who want to downsize and have a convenient lifestyle. Buyers also come from nearby farms; they are keen to have a city pad, especially while their children go to high school. 

The resort-style living on offer by the river is very appealing but often buyers are looking for larger apartments instead of hotel-sized units. If your place has a third bedroom or study, it should be easier to attract interest. 

In terms of value, while we never have a crystal ball, we can reflect on excellent growth during 2022. Average prices are skewed for the postcode, which also includes smaller, low-cost homes, but recent sales of 2-bed, 2-bathroom properties at the top end of the market have exceeded $600,000. 

Rockhampton has been lucky to avoid the impact of rising interest rates because it is so much more affordable than other parts of the country. In fact, rising mortgage costs are pushing buyers and investors towards the city. With that being said, there may be a slight downturn later in the year, which is all the more reason to take action and sell sooner rather than later. 

Buy Riverfront Property in Rockhampton

Want to buy a luxury apartment near the water? As an owner-occupier, you’re likely to find yourself in a building with secure parking, a swimming pool and gym facilities. The ‘lock up and leave’ lifestyle is idyllic, and apartments generally don’t require a lot of maintenance because they are relatively new. 

Investors have a couple of options. If you buy a managed short-term rental, yield can be 6-12%, depending on occupancy. Longer-term residential units are popular with medical professionals who take on contracts in the city — yield can sit between 7-10%. 

If you’re looking to buy a place to live in, consider what you want from the home. Apartments are convenient, but you need to think about storage, laundry facilities and parking. Remember, if you’re downsizing from a five-bedroom home, you’ll need to be ‘brave’ and really cull your belongings before you move. 

The other factor to keep in mind before you buy a riverfront home is that while there is a lovely community amongst permanent residents, many apartments are used for short-term rentals. Tenants are very carefully vetted, but you will notice strangers coming and going, especially in the Empire Apartment Hotel and Edge Apartment Hotel. 

Rockhampton riverfront: The place to be

Riverfront apartments are a relatively new addition to the Rockhampton landscape and are highly coveted. If you’re buying or selling in the area in 2023, it will be difficult to go wrong, so long as you have a clear strategy and enlist the support of an experienced local professional. 

Want to talk to someone about making your move in this area? We’re happy to help. Reach out to The Agency CQ today.