PRD Maryborough 232-244 Adelaide Street, Maryborough, QLD 07 4121 0616
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PRD Maryborough  →  Research Hub  →  Maryborough Property Market Update 1st Half of 2022

Maryborough Property Market Update 1st Half of 2022

In Q1 2022, Maryborough, which in this report encapsulate the suburbs of: Maryborough, Tinana, Granville, Maryborough West, Oakhurst; recorded a median house price of $350,000, representing an annual (Q1 2021 – Q1 2022) median price growth of 29.4%. Total sales decreased between Q1 2021 – Q1 2022, by -42.4% to 133 sales for houses. There is a significant undersupply in the market, as a double-digit decline in sales figures have translated into a double digit increase in house price. An absence in residential projects is concerning, as buyers now rely on owner-occupiers or downsizers selling.

Average vendor discounts between Q1 2021 and Q1 2022 have rapidly swung to a premium, sitting at 0.6% for both houses and units. Market conditions in Maryborough have now shifted to favour vendors, as buyers are willing to offer above the initial listing price. This has been the case for the past 6 months, and the first premiums seen in the market for the past 2 years, due to an undersupply.

House rental yields in Maryborough was recorded an attractive rate of 4.7% in March 2022, above Fraser Coast LGA (4.3%) and Brisbane Metro (3.3%). With a lower entry price compared to Brisbane Metro, this is great news for investors. Demand for rental properties have increased, with average days on market declining by -11.8% to 15 days in Q1 2022.

4+ bedroom houses have provided investors with +17.6% rental growth annually, achieving a median rent of $400 per week. That said all bedroom configurations have returned double digit rental growth in the past 12 months, indicating investors will benefit regardless of their choice of investment purchase.

Maryborough recorded a vacancy rate of 0.2% in March 2022, which is below Fraser Coast LGA of 0.3% and Brisbane Metro 0.7%. Vacancy rates in Maryborough have continued to trend below the 0.5% mark for the past 18 months, indicating continuous high level of demand and limited rental supply. This should provide investors with a high level of confidence.

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