Agnes Water Research Factsheet 1st Half of 2019
Agnes Water recorded a median house price of $400,000 and $300,000 for units in the 1st half 2019. These figures represented an annual (1st half 2018- 1st half 2019) price strengthening of 1.9% for house and 7.7% for units. Compared to the Agnes Water 2nd half 2018 Research Factsheet, which reported an annual (2nd half 2017- 2nd half 2018) median price change of -1.0% (house) and 3.0% (units), properties in Agnes Water have strengthened in value, particularly for units.
In comparison, Gladstone Region Local Government Area (LGA) recorded a lower median house price of $280,000 in the 1st half 2019, with an annual (1st half 2018- 1st half 2019) softening of -7.3%. Median unit price in Gladstone LGA was $185,000 in 1st half 2019, with an annual price strengthening of 1.9%. Compared to the LGA houses and units in Agnes Water reflect premium prices and higher capital growth potential.
Over the past 12 months to 1st half 2019 median house rental price recorded a growth of 9.1% to $360 per week, whereas median unit rental price was stable at $255 per week. Investors are currently benefiting from low average days on the market, for both houses and units, at 24 days respectively. Vacancy rates in Agnes Water dramatically declined from 11.6% (June 2018) to 6.7% (December 2018), which indicates a move towards a healthier rental market. Furthermore, investors are also benefiting from resilient rental returns for both house (4.5%) and units (5.0%), confirming Agnes Water as a regional investment hotspot.