Maryborough Property Market Update 1st Half of 2021

In Q1 2021, Maryborough recorded a median house price of $269,000, representing an annual (Q1 2020 – Q1 2021) median price growth of 15.9%. Between Q1 2020 – Q1 2021 total sales increased by 14.1% for houses (to 154 sales). There is real returns in capital investment within the house market, as price growth occurred in conjunction with the increase in sales activity. This indicates that the Maryborough market is showing signs of post COVID-19 recovery. Now is the time to transact, particularly for owner-occupiers looking to benefit from a highly demanded market.

Average vendor discounts between Q1 2020 and Q1 2021 have tightened for both property types, to -3.3% for houses and -2.5% for units. Market conditions in Maryborough are shifting towards a seller’s market as buyers are willing to offer closer to the first asking price. Buyer discounts are still available, however limited.

In March 2021, house rental yields in Maryborough  recorded a strong 5.1%. In the 12 months to Q1 2021, the median house rental price increased by 10.3% to $320 per week, coupled with an average day on the market declining by -35.6% (to 16 days). Current figures represent a strong rental market, with room for more investors in the market.

3-bedroom houses have provided investors with +3.4% rental growth annually, with a median rent of $300 per week.

Also, in March 2021, Maryborough recorded a significantly low vacancy rate of 0.2%, well below that of Fraser Coast LGA (0.6%) and Brisbane Metro (1.5%). Vacancy rates in Maryborough have continued a declining pattern, and in the past 7 months have remained extremely low and well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%. There is a high rental demand in the area, making it an ideal opportunity for investors in Maryborough.