Hervey Bay Property Factsheet 2nd Half 2018
Hervey Bay is a coastal city in the Fraser Coast Region of Queensland, approx. 290kms or 3.5hrs drive north of Brisbane. It is the gateway to World Heritage Listed Fraser Island, the largest sand island in the world, with convenient barge access across the Great Sandy Strait.
Hervey Bay is a coastal city in the Fraser Coast Region of Queensland, approx. 290kms or 3.5hrs drive north of Brisbane. It is the gateway to World Heritage Listed Fraser Island, the largest sand island in the world, with convenient barge access across the Great Sandy Strait.
The Hervey Bay property market recorded a median house price of $375,000 and $267,000 for units in the 2nd Half of 2018. This represents an annual (2018 Financial Year) price strengthening of 7.8% for houses and a softening of -0.4% for units. Houses have significantly increased in value whereas units have become more affordable.
Annual median prices have slightly softened in the Fraser Coast Regional Local Government Area (LGA), by -2.0% to $320,000 for houses and by -9.0% to $242,000 for units. When compared to the LGA, houses and units in the Hervey Bay market reflect premium median sale prices and higher capital growth potential. The property market in Hervey Bay has proven to be more resilient (in terms of price growth) compared to the wider LGA. This provides great investment opportunities for buyers.
Median house rental prices in Hervey Bay have been stable over the past 12 months to 2nd Half 2018, at $350 per week. Over the same period of time median unit rental prices have strengthened, by 3.0% to $300 per week. Investors are assured of quick rental uptake in the current market, with the low vacancy rates of 2.5% in June 2018. They can also benefit from significant rental yields of 4.8% for house and 5.6% for units respectively.
