Whitsundays Property Market Update 1st Half 2025
Living in the Whitsundays means waking up to stunning turquoise waters and pristine beaches every day, offering unparalleled natural beauty and tranquility. You'll also be part of a close-knit, friendly community with easy access to the Great Barrier Reef.
Property Trends
In Q4 2024, Whitsundays had a median house price of $775,000 and a median unit price of $445,000. This is an annual (Q4 2023 – Q4 2024) growth of 4.0% for houses and 27.1% for units. Comparing Q4 2023 and Q4 2024, sales surged by 45.6% (to 83 sales in Q4 2024) for houses and 11.2% (to 99 sales in Q4 2024) for units. A highly demanded market is evident, thus an ideal time for owners to capitalize on their investments. Units saw a higher price growth than houses, as buyers switched focus to secure a home. Without new stand-alone houses planned for 2025, buyers must act fast.
Project Development
Whitsundays will see approximately $589.6M of new projects commencing construction in 2025. There are two key mixed-use projects: the St Bees Boulevard Retirement Village & Residential Subdivision and Edenvale Cannon Valley Master Planned Community. There are a few other residential projects planned in the Whitsundays. However, these primarily consist of new land lots (805 lots) and requires time for construction. The lack of new houses in the immediate/short term will likely drive property prices higher.
Rental Market & Growth
House rental yields in Whitsundays was 4.8% as of December 2024, lower than Whitsundays LGA (5.7%) and QLD North Coast (5.1%). That said, median house rental price in Whitsundays increased by 6.8% in the past 12 months to Q4 2024, at $780 per week. The number of housed rented has increased as well, by 24.5% (to 66 houses in Q4 2024). This indicates highly demanded and competitive house rental market in the Whitsundays, which is beneficial to investors.
Vacancy Rates & Property Investment
Whitsundays recorded a vacancy rate of 1.4% in December 2024, which is below the Whitsundays LGA’s average of 2.3% and QLD North Coast’s 1.5%. Vacancy rates have increased in the past 12 months, due to investors returning to the market. However, a 1.4% vacancy rate is significantly below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, indicating a tight rental demand and quicker occupancy of rental properties in the Whitsundays. This creates a conducive environment for investors, even with a higher entry price (for both houses and units) in the past 12 months to Q4 2024.
