Whitsundays Research Factsheet 2nd Half of 2017
The Whitsundays’ unit market has witnessed a strong performance over the past 12 months to Q2 2017 with the combination of double digit growth and affordable pricing.
In Q2 2017 Whitsundays has recorded an annual growth of 22.2% with median unit price of $325,000. Moreover, units’ median weekly rent has grown by 25.0% to $350 and their average days on market for renting have declined to 20. These combined with decreasing vacancy rate (currently at 2.2%) and a strong rental yield of 5.6% indicate Whitsundays unit market as a profitable option for investors; while being affordable for first home buyers.
The growing population in Whitsundays area has led to a lack of stock in residential and commercial property market. Therefore current and upcoming land subdivisions, and mixed use projects such as Iconic on Langford will improve the stock level in the area.