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WATCH: 3 June , 2022 Whitsunday Weekly E-News

WATCH: 3 June , 2022 Whitsunday Weekly E-News

Hi, Annette Neil here from PRD Whitsunday.

I'm here today in a hidden little gem the locals know about called Mandalay. You will see back over my shoulder Airlie Beach. There are beautiful views here from Mandalay back towards Airlie, so if you're in town come for a drive and check it out, its a little hidden secret here.

What is happening in the market at the moment. There's a lot of talk in the media about interest rates, what's going to happen, house prices, rental crisis, all this different information. What we are seeing here on the streets in Airlie Beach - We are seeing that yes, buyer enquiry has dropped off from the levels we saw late last year and early this year. We are having less enquiry, however it seems to be the enquiry that is coming through is perhaps more genuine purchasers. We are still seeing that prices are maintaining at the levels that they have been at, so we have not seen any significant drop in prices at this point in time.

We are also seeing quite a volume of listings coming onto the market still, now that's what to watch and when you know the market is changing. The volume of listings coming on to the market compared to what is selling. Once there are more listings coming on, and less are selling, there is more stock available, that's when prices do start to decline and it does become a buyers market, as to oppose to a sellers market.

Rentals, we have nothing available and it's a real crisis in town. We are crying out for more rental properties, so if you are considering renting your property, please give our team a call and chat with Katie to see what you could achieve. We are seeing a lot of Commercial enquiry both from investors looking to purchase and from tenants looking for a different property. Vacancy in the commercial sphere has come down a little but there seems to be a lot of interest to purchase property to retain a higher yield then what they might be getting in other types of investments. Storage sheds, we could use another 3000 of them and have a long waiting list for those as well.

That's what is happening here at the moment, we have beautiful weather, the sun is shining, its in the mid 20s, with cooler nights. We know in the Southern States its freezing, so maybe it's time to book that holiday to the Whitsundays!

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