April Newsletter 2019
This month I thought it would be timely to share some more positive news surrounding our property market on the Fraser Coast. A highly reputable property valuation firm, Herron Todd White, release a monthly review regarding the current state of the market across Australia. Hervey Bay had consistently been listed in the “start of recovery” stage of the National Property Clock for houses, however this month, after firm results, Hervey Bay has shifted to a “Rising Market” which further reinforces the quality offering that our great location has on offer. Please find following an excerpt for your information….
Hervey Bay labelled “Rising Market” by Herron Todd White (valuation firm)
“Hervey Bay has many appealing locations however the right area will depend on price, buyer expectations and personal preferences. Certainly, property located near the beach is always popular in the suburbs of Pialba, Scarness, Torquay, Point Vernon and Urangan. These suburbs generally have pockets of inferior quality homes scattered throughout, with owner-occupiers looking to renovate older beach shacks or subdivide sites. The transition to more owner-occupiers rather than investors appears to be an ongoing trend. Price points within close proximity to the beach are typically trading between $250,000 and $450,000, which is very affordable in comparison to other beach side locations. Buyers who choose to renovate to a good standard are likely to get their money back if they are looking to sell within a few years and do not over capitalise on the fit out. Gradual capital growth is expected in the short to medium term, given the regional locality and moderate to improving economic activity. Sale prices within the prestige suburb of Dundowran Beach have risen over the past few years with more transactions now taking place between $550,000 and $750,000. There are still some properties selling between $350,000 and $550,000 which are likely to be older homes that require maintenance. The demand for Esplanade stock has also improved with some vacant sites selling at $460,000 and above. The majority of homes along the Esplanade are older dwellings with full renovations being a common occurrence and sale prices starting from $500,000 to $600,000 for original stock.”
Herron Todd White – Month in Review April 2019 page 24 & 53
Wishing you all a safe and happy Easter!
Leah