Fraser Coast Real Estate
The Fraser Coast region is located in the Wide Bay Burnett region of Queensland and is approximately 250 kilometres away from Brisbane CBD. The region is popular because of its amazing tourist attractions such as Fraser Island, Hervey Bay and the Great Barrier Reef. There is a little something for everyone with the beautiful coastline, gorgeous hinterland and breathtaking rainforests. With so many visitors and tourists that flock to this region each year, many people find themselves thinking about investing in property in this area. With such an amazing landscape, it would seem like a wise move to purchase a first home, an investment property or even a property to retire in. When it comes to Fraser Coast real estate, it is always important to do thorough research before diving into any decisions. Purchasing a property is a huge decision that requires much thought and examination. Every suburb, region and town has their own special blend, and it is important to understand what people are looking for in each area. For example, the Fraser Coast house market has been consistent with a steady annual increase of 1.6 percent. However, the unit market showed a more promising increase of 7.4 percent over a quarter, but then saw an annual drop of 2 percent. The annual median price for a house in this area is $310,000 whereas for a unit it is $250,000. As it can be seen, two different types of properties in the same location experience different amounts of growth. Furthermore, Fraser Coast real estate can differ depending on the suburb chosen. Suburbs Burrum Heads and Scarness saw an annual increase in the range of 9 and 17.5 percent. This is vastly different than some other suburbs in the region. Important information such as suburb differences and property type differences needs to be properly researched before decisions are made so a fantastic outcome can be had by all involved.
Important information about tourism
Fraser Coast real estate is undoubtedly influenced by tourism. In June of 2016, the tourism industry contributed approximately $386 million to the region’s economy. This supports around 4100 jobs in the area which is the equivalent to 11.5 percent. With many upcoming developments, it can be concluded that tourism will continue to rise in the Fraser Coast region. A $12 million Bruce Highway roadworks package is in the works which will connect Gympie to Maryborough. There is also a $500 million Mary Harbour master plan in the early stages that will deliver a riverfront, lakefront properties and more. Furthermore, there is a $200 million health care and aged care hub in the planning stages which will offer sanctuary to the elderly population of this region. With all of the different projects on the rise, the idea of purchasing an investment property certainly seems promising.
The rental market
The rental supply held steady over the last year at approximately 10,300 rental properties. When considering an investment property, it is imperative to think about what type of houses are most in demand and will give the best rental return. For example, there was an increase of $5.00 per week over the quarter for three bedroom houses, three-bedroom townhouses and two-bedroom units. Furthermore, rentals for three-bedroom houses are more affordable than rentals for townhouses with the same number of bedrooms. This can raise the question of which is better to invest in. There may be more of a demand for houses however, there may be a better rental yield from townhouses. Questions like these can be addressed when chatting with a professional real estate agent in the area who will have in-depth, up-to-date and current information about the property market.
At the end of the day, there are many different factors that can influence a property market. Trends are always changing and can vary based on tourism rates, upcoming developments and much more. Different types of houses with a different number of rooms can elicit different annual sale prices and it is important to have knowledge of the suburbs and type of properties that are performing well. It is imperative to have all of the facts before purchasing a property and the best way to get insight is by chatting with a professional real estate agent. This way, you can have peace of mind knowing that the best decision will be made and many benefits can be experienced.