Tannum Sands Property Factsheet 1st Half of 2018
The Tannum Sands property market is embarking on a road of recovery, after a period of market softening over the past five years. Between 2017 and 2018 (Q1 2018) median price for houses increased by 0.5% to $321,750, whilst the median price for vacant land increased by a substantial 9.4% to $175,000.
The Tannum Sands property market is embarking on a road of recovery, after a period of market softening over the past five years. Between 2017 and 2018 (Q1 2018) median price for houses increased by 0.5% to $321,750, whilst the median price for vacant land increased by a substantial 9.4% to $175,000.
Compared to the wider Gladstone Council area Tannum Sands prove to be a premium market and travelling in a more positive trend. Median house price in Gladstone area is $280,000 in 2018 (Q1 2018), representing a softening of -8.5% from 2017, which signals a continuing soft market. Median land price has remained stable over the past 12 months, at $150,000.
According to ABS Census in 2016 approximately 29.0% of Tannum Sands resident rent, creating a vibrant and profitable rental market. Over the past 12 months to 1st half 2018 median rent has increased, by 8.3% for houses (to $260/week) and 10.0% for units (to $165/week). Combined with affordable median sales price this makes Tannum Sands a perfect area for investment.
Although market recovery, particularly in the house market, is still at the beginning of its journey; planned future development in the pipeline for 2018 will further stimulate the Tannum Sands market for the rest of the year.
