Maryborough Property Factsheet 1st Half 2019
Over the past 12 months (Q1 2018 – Q1 2019) the Maryborough property market recorded a median house price of $193,000 in Q1 2019, which represented a capital growth of 1.6%. When compared to the Maryborough 2ndhalf 2018 Research Factsheet, which reported an annual (Q3 2017 – Q3 2018) price change of -2.0%, houses in Maryborough have strengthened in value. This provides comfort to home owners, especially those who are contemplating selling their property.
Over the past 12 months (Q1 2018 – Q1 2019) the Maryborough property market recorded a median house price of $193,000 in Q1 2019, which represented a capital growth of 1.6%. When compared to the Maryborough 2ndhalf 2018 Research Factsheet, which reported an annual (Q3 2017 – Q3 2018) price change of -2.0%, houses in Maryborough have strengthened in value. This provides comfort to home owners, especially those who are contemplating selling their property.
In comparison, Fraser Coast Region Local Government Area (LGA) recorded a higher median house price of $330,000 in Q1 2019, representing an annual growth of 1.5% between Q1 2018-Q1 2019. Units recorded a median price of $270,000, representing an annual strengthening of 12.5%. This suggest that the Maryborough market provides more affordable options when compared to the LGA, however with slightly higher capital growth returns. This makes Maryborough even more attractive to those looking to invest in the wider LGA.
The median rental price for both house and units strengthened over the past 12 months to Q1 2019. Houses recorded an annual strengthening of 3.0% to $278 per week, units also have been strong at 2.3% growth to $220 per week. Investors are currently benefiting from low average days on the market for houses at 22 days and units at 27 days. Astute investors need to take this opportunity to enter the market, as vacancy rates in Maryborough were recorded at a low trending 1.5% as of December 2018. Vacancy rates are well below that of Fraser Coast LGA (2.7%) and Brisbane Metro (3.2%), indicating a healthier rental demand in Maryborough*.
In the 1st Half 2019, Maryborough is set to invest approx. $13.2M into new projects. The majority ($9.2M or 69.9%) will be spent on infrastructure projects.
