Agnes Water Property Factsheet 1st Half of 2018
The Agnes Water property market recorded a median house price of $378,000 and $279,000 for unit Q1 2018, which represents an annual softening of -4.3% and -2.1% respectively over the past 12 months to Q1 2018. The wider Gladstone Region Local Government Area (LGA) has reported a similar declining trend in price growth, with houses softening by -6.9% to $295,000 and unit prices softening by -11.5% to $230,000. Comparatively Agnes Water is a more premium market than its LGA and is also more resilient to market softening. First home buyers and investors need to act fast to capitalise on current affordable options in Agnes Water and the wider area.
Average vendor discounting for houses has tightened to -5.1% over the past 12 months to Q1 2018, suggesting sellers are achieving closer to their first asking price. Moreover, average days to sell has also improved to 102 days. Thus, despite the slight softening in median price growth, house sellers are still benefitting from a high demand market and now is the time to sell.The rental market in Agnes Water continue to serve investors well, with the median rent price increasing for houses over the past 12 months to Q1 2018 by 3.1% to $330 per week for houses and by 1.8% to $285 per week for units. Highly attractive rental yield at 4.7% for houses and 5.0% for units combined with a softening trend in median property prices confirms Agnes Water as a lucrative investment option. Investors that are looking to purchase in the area need to act quickly to benefit from increasing affordability and solid rental yield.