COVID has supercharged our Property Market

WELL, the stats are in from PropTrack, and Hervey Bay has done incredibly well, with Nikenbah one of the best performing suburbs in the State.

The pandemic has caused a psyche change in the Australian population resulting in people rethinking priorities such as work and liveability.  People now know they can work remotely and have a coastal regional lifestyle and still have a career. This means regional property could perform well for the next decade.

PropTrack has looked at the median house prices from April 2020 to April 2023 and at the percentage change in value over those 3 years.

Nikenbah has been the second-best performing suburb in the State, with a 153.8% increase in value and a new median house price of $825,000, which is amazing.

Maryborough has also had great growth with a 66.7% increase and median price of $345,000.

Within the unit market, the best performing area has been Urangan with a 65.9% increase and median price of $435,000.

Other strong performers in our region are:

• Toogoom - 98.6% increase, median price $685,000. 
• Booral - 90.3% increase, median price $737,500. 
• Burrum Heads - 85.7% increase, median price $703,500.
• Pialba - 78.7% increase, median price $575,000. 
•  Kawungan - 75.7% increase, median price $615,000.
• Craignish - 74.6% increase, median price $860,000.
• Eli Waters - 74.4% increase, median price $575,500.
• Scarness - 72.8% increase, median price $540,000.
• Torquay - 72.8% increase, median price $560,000.
• Dundowran Beach - 71.9% increase, median price $980,000.
• Point Vernon - 71.5% increase, median price $575,000.
• Urangan - 71.4% increase, median price $600,000.
• Urraween - 70.7% increase, median price $640,000.

This is great news for our region as we have caught up after many years in an undervalued market pre-COVID and look to have a solid sustainable property market for many years ahead. We just need the infrastructure to keep up with demand. 

with GLEN WINNEY of FCPIA

Facebook

www.fcpia.com.au