According to data from realestate.com.au, the median house price in Hervey Bay as of September 2021 was $441,500. This represents a significant increase of 16.1% over the previous year, indicating strong growth in the market. Additionally, the median unit price was $319,000, representing an increase of 10.5% over the same period.
The number of properties for sale in Hervey Bay has also decreased over the past year, according to realestate.com.au. As of September 2021, there were only 237 properties listed for sale in the area, compared to 311 in the same period the previous year. This is a decrease of almost 24%, indicating that competition among buyers is likely to be high.
The rental market in Hervey Bay is also strong, with the median rent for a three-bedroom house currently sitting at $420 per week, according to realestate.com.au. This represents an increase of 5% over the past year, indicating that demand for rental properties in the area is also on the rise.
Hervey Bay’s strong real estate market can be attributed to a number of factors, including its attractive lifestyle offerings, affordable housing prices, and strong rental yields. The area’s popularity among tourists also means that there is a steady demand for short-term accommodation, making it an attractive option for investors.
In conclusion, the real estate market in Hervey Bay is currently experiencing strong growth, with increasing demand for both residential and commercial properties. The area’s attractive lifestyle offerings, affordable housing prices, and strong rental yields make it an appealing option for homebuyers and investors alike. With a limited supply of properties available for sale, competition among buyers is likely to remain high in the foreseeable future.
