It appears buyer confidence is rising at the beach. The Herron Todd White Residential National Property Clock for September 2017 Houses, suggested that the Rockhampton region is sitting at 4/5 o’clock which indicates approaching the bottom of the market, over the last 12 months the Rockhampton region has been moving around between 3 o’clock (declining market) and 6 o’clock (bottom of market) according to the monthly reports. While the Herron Todd White property clock is considered a reliable snapshot of the market, the team, @ Real Estate Yeppoon, were curious about what locals think of the Yeppoon property market compared with professional valuers looking at the greater Rockhampton region as a whole.
@ Real Estate Yeppoon Facebook followers were asked to comment on where they think Yeppoon is sitting on the property clock. All comments were between 5 and 9 o’clock. However, in a surprising comparison between the Herron Todd White property clock and the local perception, 30% of the comments suggested the local market is a 9 o’clock being a rising market. This suggesting confidence is rising in the Yeppoon. 25% commented 8 o’clock which would indicate the start of recovery and another 25% commented 6 o’clock which would be the bottom of the market, with 5 and 7 o’clock receiving 10% of the comments each.
This means that 90% of Yeppoon locals (who commented), believe the Yeppoon market has hit the bottom and on the road to recovery. This data suggests now is a great time to buy, before prices increase.