Maryborough Research Factsheet 2nd Half 2017

Located approximately 255 kilometres north of the city of Brisbane, Maryborough presents itself as an attractive option for house buyers and a solid market for investors interested in houses, as it provides a unique combination of great affordability without compromising on capital growth.  

The house market in Maryborough has shown positive growth over the past 12 months to 2017*, at 5.1% for houses to $205,000. On the other hand, the unit market has softened to $152,750 suggesting now is the perfect time for buyers to capitalize on affordability. In comparison, the property market in the Fraser Coast Region has softened for both house and units, recording median prices of $310,000 and $255,000 respectively.

Average days to sell for houses over the past 12 months to Q3 2017 has slightly increased to 93 days and average vendor discounting for houses has widened slightly to -8.1%. This suggests a slight pivot to a buyer’s market, as sellers are more willing to negotiate on their first listed price. Average vendor discount for units have widened to -9.8% in Q3 2017, further confirming increasing affordability in the unit market.

The rental market for houses in Maryborough has remained fairly constant since Q2 2016, the median rent is currently at $260 per week while median unit rent has softened to $203 per week. Over the same time period, the average days for rent has improved significantly to 27 days for houses and 36 days for units.

Investors are assured with good return with 6.6% rental yields for houses and 5.0% rental yields for units. Strong demand for rental properties continues to be demonstrated by low vacancy rates of 1.4%, well below that of Brisbane’s 3.2%.

Maryborough is set to see approx. $50.1M of new projects commencing between late 2016 and 2018 with 77.0% allocated to infrastructure and 23.0% allocated to commercial developments. This sets Maryborough on a path of sustainable economic growth and bright future for residents and investors alike.

A key development is the Safety upgrade of the Bruce Highway from Gympie to Maryborough roadworks project, estimated at $12.4M. Construction is expected to complete in January 2019.  A notable commercial project, estimated at $8.0M, is the Maryborough Plaza Shopping Centre. Construction began late 2016 and this project is likely to bring local jobs to the area.

It is clear that future development in Maryborough is focused on benefiting the local community and strategies that will support future expansion. This builds a strong foundation for population growth, revitalizing new property stock demand.