Is Rockhampton a Smart Place to Invest?

Rockhampton is fast becoming the little city that could, with investors flocking from southern Queensland, interstate and overseas in surprising numbers.

Our agents are experiencing a surge of enquiries from buyers agents acting on behalf of buyers who want a quality home that has the potential to be cash flow positive. 

Here are some of the reasons why savvy investors are looking to Rockhampton in 2023.

Booming population growth

Rockhampton is a growing city. 

The current population is 83,687, and some predictions estimate that figures will rise by as much as 17.22 per cent by 2041.

Where there is a growing population, there is a need for housing. This is the first reason that Rockhampton is such an enticing investment. Buy now, and there will be no trouble finding tenants, thanks to the influx of people making Rockhampton their new home over the next ten years.

Rockhampton is also a youthful city. The 2021 census showed the most populous age bracket in Rockhampton to be 25-29 years, followed by 30-35 and 35-40. Young populations mean more renters, so there is excellent opportunity to lease an investment property to tenants.

Strong job market

Estimates in 2021 put the gross regional product of the Rockhampton region at $5.56 billion.

The same source said that in 2021 there were 43,587 local jobs and 5,170 local businesses.

While the post-covid numbers may be slightly lower, Rockhampton is still a strong economy.

In January 2023, the Rockhampton Council also implemented an Economic Development Strategy and Action Plan specifically to drive growth over the next five years.

The plan intends to approach economic growth through these five pillars:

  1. Future Jobs and Investment Attraction

  2. Infrastructure for Future Growth

  3. Regional Promotion and Major Events

  4. Regional Collaboration and Partnerships

  5. Talent Retention and Attraction

The Queensland Government is also committed to the growth of regional areas, and Rockhampton is no exception. Grants and other opportunities are encouraging regional businesses to mature and grow in Rockhampton and surrounding areas.

All of this adds up to a strong economy that is appealing to many Australians looking for more stability and an investment that delivers returns without an overwhelming mortgage.

On top of this, Rockhampton is often a short term destination, for example for young doctors completing their medical residency. A premium apartment in the Riverfront precinct can be a good investment because it will attract young professionals who want somewhere upmarket with a ‘lock up and leave’ lifestyle and have the budget to ensure you have great rental yield. 

Infrastructure development

As part of its growth, Rockhampton is also undergoing significant infrastructure development, with major projects underway to improve the city's transport and connectivity.

The Rockhampton Ring Road project, for example, will provide a bypass for heavy vehicles and improve traffic flow in the city. The project is expected to be completed by 2023 and will make it easier for people and goods to move in and out of the city. 

Along with this, the Rockhampton Airport is being considerably expanded. This will provide more flights to major cities, making it easier for people to travel to and from the area. 

Property prices

Of course, a major driving force behind the influx of investors wanting to invest in Rockhampton is property prices. 

In cities like Brisbane, Melbourne and Sydney, prices have risen out of reach. Investing close to $1 million in a property that isn’t even in good condition simply doesn’t make sense when you can purchase a near-new property in far north Queensland and find tenants just as quickly. 

The affordability of Rockhampton has investors circling, which is keeping prices healthy. To add to this, future population and employment growth are expected to create long-term positive results for investors.

Invest in Rockhampton

It’s hard to deny that Rockhampton is one of the fastest-growing and best investment opportunities in the country. Whether you are a new investor or looking to expand your portfolio, get in touch with our team today. We can help you find a property that meets your budget and your brief.