Agnes Water Research Factsheet 2nd Half 2017
Described as ‘the new Noosa, the next Byron Bay, Agnes Water is a popular getaway to the Southern Great Barrier Reef. The township of Agnes Water is renowned for its excellent surf and expansive national parks. It is also a popular destination for tourists and swimmers.
Agnes water/1770 provides an attractive option for first home buyers and a solid house market for investors, as it uniquely combines affordability and positive capital growth. Over the past 12 months to Q3 2017, there has been a softening in the market in both Agnes Water and Gladstone Region, suggesting now it’s a prime-time for first home buyers to enter the market and capitalize on affordability. In Q3 2017, the median house and unit price in Agnes Water was recorded at $395,000 for houses and $269,000 for units which is a more premium market compared to its LGA which was recorded at $310,000 and $164,100 respectively.
Median rent in Agnes Water has increased by 11.1% growth for houses while it remained stable for units throughout the 12 months leading up to Q3 2017; median rent currently sits at $360 per week and $265 per week respectively. Rental yields are currently at 4.3% (house) and 4.9% (units).
Over the past twelve months house average vendor discount has remained stable, however, it specifically widened from Q1 2017 to -16.0% in Q3 2017 which suggests that this is the perfect time for buyers to take advantage and negotiate with sellers as they are willing to negotiate from the first list asking price. At the same time, buyers are also willing to offer closer to first asking price which is evident by the tightening of the unit average vendor discount to -3.0%.
The average days on market for sales in Q3 2017 has reduced to 138 days for houses and to 68 days for units which indicate the higher demands of units in the area.
The city of affordable housing combined with a mixed of commercial, residential and infrastructure project suggest a focus on increasing business activity and infrastructure in the area, shaping the future for Agnes Water. The value of project development in Agnes Water in 2017 – 2018 is estimated at 20.3M.