Tannum Sands Property Factsheet 1st Half of 2019

Tannum Sands* recorded a median house price of $303,500 and a median unit price of $190,000 in the 1^st half of 2019. These figures represented an annual (1^st Half 2018 – 1^st Half 2019) price strengthening of 4.7% for house and 14.3% for units. Compared to the 2^nd Half 2018 Tannum Sands Research Factsheet, which reported annual (2^nd Half 2017 – 2^nd Half 2018) median price changes of -1.0% (house) and 13.0% (units), properties in Tannum Sands* have seen a strengthening in value, in particular units.

The Gladstone Regional Local Government Area (LGA) by comparison saw a lower median house price of $280,000 in the 1^st half of 2019, with an annual (1^st Half 2018 – 1^st Half 2019) softening of -7.3%. The median unit price in the Gladstone LGA was $185,000 in the 1^st half of 2019, an annual price gain of 1.9%. When compared to the LGA, properties in Tannum Sands* reflect premium prices and higher capital growth potential, especially that of houses.

Average vendor discounting has widened for houses over the past 12 months, from -8.6% in the 1^st half of 2018 to -9.0% in the 1^st half of 2019. Average vendor discounting for units has significantly widened, from -6.0% in the 1^st half of 2018 to -17.4% in the 1^st half of 2019. These figures indicate higher buyer negotiation activity with vendors as properties are being sold below their first asking prices. First home buyers are encouraged to take this opportunity to enter the market while properties are being sold at discounted prices. 

Over the past 12 months to the 1^st half of 2019, the median house rental price recorded significant growth of 28.0% to $320 per week, and median unit rent also followed, with growth of 6.7% to $190 per week. Investors are currently benefiting from low average days on the market for both houses and units, at 22 days and 27 days respectively. Vacancy rates in Tannum Sands* drastically declined from 5.0% (December 2017) to 2.3% in December 2018, which indicates a lean towards a healthier rental market. Furthermore, investors are also benefiting from resilient rental returns for both houses (3.6%) and units (4.9%), positioning Tannum Sands* as a regional investment hotspot.