Agnes Water Property Market Update 2nd Half of 2021

In Q3 2021, Agnes Water recorded a median house price of $585,000, and a median unit price of $390,000. This represents annual (Q3 2020 – Q3 2021) median price growth of 47.2% for houses and 41.2% for units. Between Q3 2020 – Q3 2021 total sales for houses slowed by -40.4% (to 31 sales) but increased for units by 65.0% (to 33 sales). A significant decrease in house sales alongside price growth indicates a severely undersupplied market, thus an ideal time for owners to sell. There are real returns in capital growth in the unit market as median price and number of sales grew at the same time.

Average vendor discounts between Q3 2020 and Q3 2021 swung to a premium of 0.4% for houses and tightened to -1.7% for units. Market conditions in Agnes Water have now shifted to favour sellers, where buyers are willing to negotiate above the initial listing price. Now is a great time for vendors to sell.

In September 2021, house rental yields in Agnes Water were recorded at 5.3%. In the 12 months to Q3 2021, the median house rental price increased by 22.0% to reach $500 per week and average days on the market declined by -20.7% (to 23 days). There is a strong rental market, with a supply and demand imbalance being the biggest driver of growth.

4+ bedroom houses have provided investors with +19.0% rental growth annually, with a median rent of $500 per week.

Also in September 2021, Agnes Water recorded a low vacancy rate of 0.5%, below that of Gladstone LGA (0.7%) and Brisbane Metro (1.4%). Agnes Water continue to record historical low vacancy rates since November 2020 and remain well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, even amidst COVID-19 conditions. This confirms there is a healthy rental demand and investors can be confident of a conducive investment environment in Agnes Water.