Paradise found: Gympie on verge of property boom
GYMPIE'S housing market is shaping up to become a heavyweight contender in Queensland's property game.
Tim Brown, who has held executive positions at Macquarie Bank, Yellow Brick Rd and more recently as CEO of Sydney-based wealth intelligence firm Opica Group, said Gympie's relative affordability to its metro cousins could mean a recipe for unprecedented growth. The numbers are telling the same story.
Gympie's Gross Regional Product (GRP) was $2.02 billion last year, meaning a 1.8 per cent increase from 2015.
The median mortgage repayment in Gympie is around $1300 per month.
Compare that to the state average of $1733 and it is easy to see why the Gympie market is proving to be an attractive option for first home buyers and investors and why our population is predicted to grow 1.6 per cent over the next five years.
"It is all about lifestyle," Mr Brown said.
"Why live in Sydney with all the stress and expense when you could live somewhere like Gympie and be comfortable," he said.
With Gympie's population projected at 60,570 by 2036, Mr Brown said economic stimulation, including job growth and availability, would not be an issue.
"With any positive immigration you will have an increase in jobs," Mr Brown said.
"Even people moving to Gympie to retire will spend money on builders, in grocery shops and cafes."
Gympie school teacher Paul Barnes exemplifies the urban shift.
Originally from Gympie, Mr Barnes moved to Brisbane in 2000.
After moving his family back in 2016, Mr Barnes said Gympie was a logical option to raise a family.
"There was always a pretty strong community here, but there wasn't the cafe culture that is creeping in now.
"Gympie is starting to feel like an extension of the Sunshine Coast and I think it is driven by affordability.
"We like the idea of being able to raise a family in this area," Mr Barnes said.