Agnes Water Property Market Update 1st Half of 2022
In Q1 2022, Agnes Water recorded a median house price of $830,000, and a median unit price of $425,000. This represents annual (Q1 2021 – Q1 2022) median price growth of 76.6% for houses and 28.8% for units. Total sales remained at 47 sales (0.0% growth) for houses between Q1 2021 – Q1 2022 and decreased by -37.3% for units (to 32 sales). High level of confidence is evident in Agnes Water, with properties in high demand. Houses suggest real returns on investment, as price growth is aside the same amount of sales. The unit market is undersupplied, as price growth is aside lower number of sales.
Average vendor discounts between Q1 2021 and Q1 2022 have rapidly tightened to a discount of -1.8% for units and widened to -4.8% for units. Market conditions in Agnes Water is unique, as house sellers can benefit from a final sale price closer to their first list price and unit buyers can benefit from a greater discount. This suggest that now is the time to transact.
House rental yields in Agnes Water was recorded at 3.7% in March 2022, above Brisbane Metro (3.3%). This was paired with a 23.1% increase in median house rental price in the 12 months to Q1 2022, to $480 per week. The Agnes Water house rental market is undersupplied, as the number of houses rented declined by -25.0% during the same timeframe. This suggests Agnes Water as a key market for investors, due to the high rental demand.
4+ bedroom houses have provided investors with +16.3% rental growth annually, achieving a median rent of $800 per week.
Agnes Water recorded a vacancy rate of 0.0% in March 2022, well below Brisbane Metro’s 0.7% average. Vacancy rates in Agnes Water have signific ally decreased over the past 24 months, indicating a strong increase in rental demand post-COVID-19, bringing the vacancy rate to an extreme contrast compared to pre-COVID-19. These key indicators create a conducive and sustainable environment for investors, despite the increase in median property prices in the past 12 months.
