Report Says Rental Prices Up by 48%

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The Mortgage Gallery Rockingham devises improved products and services to help prospective home buyers obtain more affordable homes.

The Mortgage Gallery Rockingham

A report undertaken by the Central Queensland University showed that the median rental prices for 4-bedroom houses, specifically in Gladstone, have increased with a percentage of 48% in the last 12 months.

The Mortgage Gallery Rockingham, a mortgage broking company composed of experienced and reputable mortgage brokers from Kwinana, Rockingham, Cockburn and the greater Perth area – has announced its plans of providing even better options for its current and prospective clients, in the hope of helping them find homes that are worth the investment that they may make.

This announcement stems from new reports stating that rental prices for four bedroom houses have considerably gone up by around 48% - making times a lot more difficult for those who are looking for homes either to rent or live in.

A report undertaken by the Central Queensland University showed that the median rental prices for 4-bedroom houses, specifically in Gladstone, have increased with a percentage of 48% in the last 12 months. The report also showed that the median house prices have gone up as well, with an increase of 8.2%.

In response to these figures, industry observers have called these new developments as the “Gladstone boom.” And though there are many who doubt if the said trend will continue, some experts are expecting that there is a big chance that it will.

Oliver Kent, Lyons Residential Development Manager, in explaining how these changes in housing prices have taken place said, "The market is one with an acute housing and property shortage and this shortage is generating rapidly rising prices in both the sales and rental markets."

In addition, Kent explained that the strong show of support by the state government for coal mining, located at the Galilee Basin in Central Queensland, as well as the planned 495 km railway in Abbot Point, will result to the shortage of houses in Gladstone – thereby resulting to higher prices in the long run.

“The $90 bn worth of approved infrastructure projects will place additional pressure on the already tight housing and rental markets," said Kent. He then added, "We expect to see solid rental and sale prices increase over a much longer period of some seven years or more."

As a response to this great probability of higher prices both for house rentals and for houses in general, The Mortgage Gallery Rockingham has improved its roster of products and services, from its Kwinana and Cockburn home loans, to its home loans in Rockingham and the greater Perth area as well. And according to the well-respected mortgage broking firm, this is in order to give those who are planning to have their own homes, a chance to make their dream a reality.

In addition, The Mortgage Gallery Rockingham has ventured and partnered with leading lending institutions to enable faster transactions, provide more reasonable rates and to extend more options to its current and prospective clients.

If you want to make a home loan in Kwinana, Cockburn, Rockingham and the greater Perth area, give The Mortgage Gallery Rockingham a call. They can be reached thru their phone number (08) 9527 1800 or you can also visit the company website at http://www.themortgagegalleryrockingham.com.au/.

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Justin Smith
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