Hervey Bay Property Prices. Optimum Lifestyle. Huge Growth.
- Entry Level Hervey Bay Property Growth – Market Prices Soar
- Rising Hervey Bay Average House Prices Result in Huge Rent Increases
- Hervey Bay Map Demographics & Population Growth
- Hervey Bay Growth Future Housing Supply
- Our Laid Back Lifestyle
- Suburb Profile Updates Inc Median House Prices Hervey Bay & Maryborough
- Hervey Bay Growth Population Projection June 2023
Property values in Hervey Bay are rising dramatically as the city maintains its status as one of the Fraser Coast’s real estate crown jewels, with many homes selling within days of going on the market. In some situations, the lovely seaside city’s property values have increased by more than 50%.
The number of individuals renting and/or purchasing homes in HerveyBay has dramatically increased as a growing number of people move away from urban regions in search of a calmer, more laid-back lifestyle similar to that of our lovely coastal city.
Entry Level Hervey Bay Property Growth – Market Prices Soar
The typical starting price of $450,000 for a modest three-bedroom, one-bathroom home is the norm rather than the exception, according to Brian Thompson, senior broker at Property Brokerage, who noted that finding inexpensive, entry-level property in the stunning coastal community was becoming increasingly difficult. Popular four-bedroom house and land combinations cost around $350,000, but first-time buyers who met the requirements might additionally qualify for up to $45,000 in government incentives and rebates, significantly reducing the total cost. Other buyer categories were eligible for a $25,000 builders grant and a $5,000 grant from the local government.
In 2021, 2022, and 2023, new construction will be scarce, but there will still be plenty of G Development Homes.
Rising Hervey Bay Average House Prices Result in Huge Rent Increases
The most recent average home price hikes in Maryborough and Hervey Bay have also resulted in significant rent increases as a result of supply shortages caused by a range of factors. With statistical evidence indicating a 3.4% price increase throughout the last quarter of 2021, the rental property market in Australia’s big cities has heated up dramatically.
According to Domain’s most recent Quarterly Rent Report, this dramatic increase coincides with new Australian price records and an annual growth rate of 7.4%, the highest since 2009.
Hervey Bay Map Demographics & Population Growth
The city is widely recognised for drawing largely seniors but less family families as a result of recent demographic changes. Although the area is still a popular retirement destination today, younger individuals and more families are opting to move there, creating a more balanced image. Due to the new higher Hervey Bay property prices, Maryborough is also becoming a popular option for many who just cannot afford to buy in the Bay. The mini-infrastructure boom that Maryborough is about to experience will undoubtedly support future employment growth and real estate activity.
Hervey Bay Growth Future Housing Supply
There is a considerable supply of residential land in the area, notably in the Dundowran – Nikenbah and Craignish – Dundowran Beach Hervey Bay Growth Corridors, which will undoubtedly have an impact on housing and population results throughout the whole Fraser Coast region. In the predicted period, it is expected that 17,990 new homes will be constructed, and by 2041, the population is expected to total 138,350. You want to purchase. Before home prices rise once again, secure a block.
The majority of the past activity was driven by local mum-and-dad investors as well as out-of-town real estate investors, but these days, more owner-occupiers are searching for safe housing after the COVID. But it seems like investors are still asking lots of questions. Since purchasers adore our laid-back lifestyle, they will continue to depart even as Hervey Bay real estate prices rise. The area is still quite affordable.
Our Laid Back Lifestyle
The Bay is all about ‘lifestyle’— attracting not only tourists that have regularly holidayed in the friendly coastal city but also those that are no longer interested in living in covid-struck larger suburban city neighbourhoods, especially after numerous, lengthy bouts of lockdown.
People simply want to get away— to go out of town. They’ve been unable to travel abroad because of the COVID crisis, and many are prioritising themselves and investing their money in something that is secure. ie: bricks and mortar.
Real Estate Hervey Bay Forecast: Best Suburbs to Invest in Queensland 2022
For cashed-up southern buyers, migrating to a beachfront or Esplanade property may be well within reach due to great affordability in Hervey Bay in comparison to where they have moved from. For many others, there is also the option to buy in any of the newer property developments within the city that are all conveniently just minutes from our gorgeous beaches, shops, hospitals, and public or private schooling options.
For those people that enjoy acreage living or a larger block, there are plenty of affordable choices throughout the entire region, especially in and around River Heads, Booral, Wondunna, Urangan, Dundowran, Dundowran Beach, Craignish, and Toogoom.
“The close proximity to Brisbane and Hervey Bay’s particular laid-back appeal are also both huge pluses,” Brian remarked. A property search for houses for sale Hervey Bay $500,000 – $600,000 using Domain or RealEstate.com will return plenty of results including beachfront homes and units as well as a good selection of suburban properties. These results confirm that like the rest of the country, Hervey Bay property prices have indeed soared.
Although it’s good news for sellers, for buyers, unlike just two years ago, when people searched for the cheapest houses in Hervey Bay many came in under $350,000. Nowadays there is very little available in that price bracket, except for the odd two-bedroom unit or vacant land.
Likewise, the median house price in Maryborough QLD has also risen dramatically by in excess of $50,000 to $100,00 in many cases. The property prediction for 2021 – 2022 – 2023 overall price increases and migration from other states and larger cities have significantly impacted regional housing Hervey Bay median house prices as well as the exorbitant cost of renting.
Hervey Bay Growth Population Projection June 2023
Hervey Bay, with a current population of over 57,000 is the 10th-most-populous city in Queensland. As most people know, economically the city relies heavily on tourism, mostly whale watching and close proximity to Fraser Island.
According to research by population.net.au, Hervey Bay population will reach 58,928 by the end of June 2023.
Domain search statistics indicate that there is ongoing interest in moving away from the larger city areas preferring regional coastal locations. This is great news for investors and/or current homeowners wanting to downsize or upgrade to a new property. There will be plenty of interested people renting or buying a house in Hervey Bay in the near future. Now is the best time to sell. Be sure to get in before Hervey Bay property prices start to drop.
Source propertybrokearge.com.au