Agnes Water Property Factsheet 2nd Half of 2018
Agnes Water recorded a median house price of $410,000 and $295,000 for units in the 2nd Half 2018. These figures represented an annual (2nd Half 2017- 2nd Half 2018) price softening of -1.0% for house and a strengthening of 3.0% for units. Compared to the Agnes Water 1st half 2018 Research Factsheet, which reported an annual (Q1 2017 – Q1 2018) median price change of -4.3% (house) and -2.1% (units), both median house and unit prices in Agnes Water have strengthened, more so for units.
Median house price in Gladstone Region Local Government Area (LGA) have softened by -7.0% to $285,000 over the past 12 months to the 2nd Half of 2018. Median unit prices have also softened, by -15.0% to $151,000. Compared to the LGA, houses and units in Agnes Water market reflect premium median sale prices and higher capital growth potential.
Median house rental prices have softened over the past 12 months to the 2nd Half of 2018, by -8.0% to $330 per week. Median unit rental price have also softened, by -7.0% to $260 per week. This is great news for tenants seeking more affordable options. That said investors should not be discouraged, as the rental yield in Agnes Water have held relatively stable over the past 12 months to June 2018, at 4.2% for house and 4.5% for units.
Future development projects in Agnes Water commencing between 2017-2018 is estimated at approximately $12.0M. A major commercial project commencing is the Round Hill Road Campgrounds, with an estimated value of $7.0M.