Is Norman Gardens to soar past The Range as 'place to buy'?
IS NORMAN Gardens outshining The Range as "the place to buy"?
Rockhampton property market trends over the past six months certainly suggest that, despite the latter's proximity to the CBD, its grand views of the city and the old Queenslander-styled homes the south-side suburb is renowned for.
But it seems buyers are looking for modern class and luxury these days.
Ray White Rockhampton principal David Bell (pictured) said in the past six months there had been about 14 sales over the $500,000 mark in Norman Gardens.
That was the number of sales by his real estate agency alone.
Of those 14 sales, six homes were sold in the past two months.
In May, Ray White Rockhampton sold a Retreat Ave property for almost $700,000.
Mr Bell said although he didn't want to say that Norman Gardens was soaring past The Range, in terms of its exclusivity and the number of sales there, he said more buyers were scooping up properties at Norman Gardens than the latter.
According to Core Logic, the median sales price of houses in the area is $483,500. The size of Norman Gardens is about 13 sq km. It has five parks covering nearly 1% of the suburb's total area.
The population of Norman Gardens in 2006 was 7587 people. By 2011 the population was 8442; which showed a population growth of 11% in the area during that time.
The predominant age group in Norman Gardens is 0-14 years. Households in Norman Gardens are primarily couples with children and are likely to be repaying between $1800 and $2400 a month on mortgage repayments. In general, people in Norman Gardens work in a non-specific occupation.
Here are the median house prices for Norman Garden in the first four months of this year: