Agnes Water Property Market Update 1st Half of 2021

In Q1 2021, Agnes Water* recorded a median house price of $430,000, and a median unit price of $300,000. This represents annual (Q1 2020 – Q1 2021) median price growth of 15.7% for houses, however units softened by -20.0%. Between Q1 2020 – Q1 2021 total sales in both markets surged, up by 19.2% for houses (to 31 sales) and by 483.3% for units (to 35 sales). There is real returns in the house market, as price growth occurred in conjunction with an increase in sales activity. Thus an ideal time to transact. First home buyers are encouraged to take this affordable opportunity within the unit market.

Average vendor discounts between Q1 2020 and Q1 2021 have remained stable for houses, at 3.1%. Units vendor discounting have widened to -4.6%. This shows buyers still have room to negotiate with vendors, units in particular create an opportunity for first home buyers.

In March 2021, house rental yields in Agnes Water^¥ recorded a strong 6.0%. In the 12 months to Q1 2021, the median house rental price increased by 8.3% to $390 per week, coupled with an average days on the market declining by -24.8% (to 24 days). Current figures represent a strong rental market, as demand further increases in regional areas.

2 bedroom houses have provided investors with +26.9% rental growth annually, with a median rent of $330 per week.

Also in March 2021, Agnes Water^¥ recorded a significantly low vacancy rate of 0.4%, well below that of Gladstone LGA (1.0%) and Brisbane Metro (1.5%). Vacancy rates in Agnes Water^¥ have continued on a declining pattern, and in the past 5 months have remained extremely low and well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%. There is still a high rental demand in the area, an ideal opportunity for investors in Agnes Water*.