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Real Estate Hervey Bay Queensland Property Prices
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Real estate Hervey Bay Queensland property prices drastically increase as the city continues to shine as one of the Fraser Coast’s real estate crown jewels, with plenty of properties selling within just days of being placed on the market. Property prices throughout the gorgeous coastal city have seen increases of more than 50% in some cases.

We’ve seen a dramatic increase in the number of people renting and/or buying a house in Hervey Bay as scores leave the city areas in pursuit of a quieter, more relaxed lifestyle like that of our gorgeous coastal city. Amidst this surging demand and immense growth, Hervey Bay remains an affordable coastal option with plenty of units and a few houses for sale under $450,000 also still available.

Entry Level Hervey Bay Property Growth – Market Prices Soar

Brian Thompson, the senior broker at Property Brokerage, said that finding cheaply priced, entry-level property in the gorgeous coastal community was becoming increasingly difficult, with the typical starting price of $450,000 for a basic three-bedroom, single-bathroom home being the norm rather than the exception. Four-bedroom house and land packages, which were extremely popular were priced at about $350,000— first home buyers that qualified saved were also eligible for up to $45,000 in government grants and rebates available bringing the final price down even further. $25,000 builders grant and local council $5,000 grant was available to other buyer types so long as they qualified.

Fast forward to 2021 – 2022 – 2023 – 2024, and new builds have once again returned to the area, with plenty of future Hervey Bay property market developments in the pipeline. These new builds tend to be $500,000 upwards for a basic house and land package.

Seize the Opportunity: Secure the 2024 First Home Owners Grant at an Impressive $30,000 Now!

Brian, a local real estate expert, points out that some of the house and land packages he originally sold only one to two years ago have resurfaced in the local Hervey Bay real estate market over the last three months (December 2021-February 2022) with an impressive sale price of above $600,000. Despite the soaring prices and increased demand, there are still opportunities to find affordable houses for sale in Hervey Bay under $450,000, making it an attractive option for those looking to build their dream home or invest in this flourishing coastal paradise.

Do keep in mind, that many of these homes have had virtually no improvements done before selling, but scarcity and covid drove the price extraordinarily upwards, especially as more and more cashed-up buyers from Sydney, Melbourne, Brisbane, Sunshine Coast, and Gold Coast continue to move into the area. Will the bubble burst?

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If you are a first home buyer, be sure to take advantage of the new First Home Buyers Government Grant of $30,000 and make your dream of owning a new home in Hervey Bay a reality. Don’t miss out on this incredible opportunity to secure your future and invest in the booming Hervey Bay real estate market. Contact us today to explore the affordable housing options available and start your journey towards homeownership.

168 x 3+ Bedroom Houses for Sale in Hervey Bay Queensland $500,000 –  $600,000 Price Bracket

The coastal city has indeed become a real estate hotspot, and although house prices have risen, interstate buyers still ask us why are houses so cheap in Hervey Bay? A quick search online (domain.com.au) will certainly confirm that there are still units and houses for sale in Hervey Bay under $450,000.  Today on Domain there were one hundred and sixty eight 3 and 4 bedroom houses for sale in the $500,000 to $600,000 bracket.  

Rising Hervey Bay House Prices Result in Huge Rent Increases

Likewise, the latest Maryborough and Hervey Bay average house price increases have also meant high rent increases with demand overtaking supply for a variety of different reasons. Australia’s rental market has heated up significantly with statistical data confirming that the rental property market in capital cities across Australia has seen a 3.4% price increase over the final quarter of 2021.

Domain’s latest Quarterly Rent Report— this stark increase parallels a new set of record-high prices in Australia and an annual growth of 7.4 percent which is the largest yearly increase since 2009.

house asking weekly rent
The average rental house in Australia was $499pw December 2021 in comparison to $465pw December 2020

“Unsurprisingly, given the substantial levels of interstate migration it has experienced since the pandemic began, Brisbane topped the charts as the capital city with the largest year-on-year growth for rental house prices.” — Domain

According to Brian, “The most difficult problem agents currently face is securing enough properties to sell to both new and any buyers that may have missed out on a property that they liked. Many homes are selling almost immediately after going online, or soon after the first open house inspection.”

If you’d liek to knwo more about Hervey Bay average house prices, be sure to check out our Latest HerveyBay Suburb Profile Report Updates for each suburb and locality in the area in an easy-to-view and understand video format.

Hervey Bay Map Demographics & Population Growth

Demographics have shifted in recent years, with the city being well known for attracting mostly retirees but fewer family households. Nowadays, the region is still very much a retirement haven, but the area is also seeing a more balanced picture as younger people, and more households with families are choosing to relocate. Maryborough is also becoming a popular choice for people that cannot afford to buy in the Bay due to the new higher Hervey Bay property prices. Maryborough is also on the cusp of a mini-infrastructure boom, which will certainly underpin job growth and real estate activity over the next few years.

 

real estate hervey bay queensland net migration
Fraser Coast / Drivers of Population Change

Hervey Bay Growth Future Housing Supply

With a huge supply of residential land available, no doubt housing and population outcomes across the entire Fraser Coast region will be affected with significant supply available in the area- especially in the Dundowran – Nikenbah and Craignish – Dundowran Beach Hervey Bay Growth Corridors. An anticipated 17,990 new dwellings are estimated to be built in the forecast period, with the population forecast to reach 138,350 by 2041. Looking to buy? Secure a block now before property prices increase again.

Additional Reading:

Fraser Coast Government / Final Insights into the Future of Fraser Coast

Fraser Coast / Drivers of Population Change

Is Hervey Bay Going to Boom? Investment Opportunities

Much of the previous activity was driven by out-of-town property investors as well as local mum-dad investor types, but now we’re seeing more owner-occupiers looking for something secure post-covid. However, there appears to still be quite a bit of investor inquiry. While Hervey Bay property prices continue to escalate, rest assured that buyers will continue to flee for they love our laid-back lifestyle. The region is still exceptionally good value.

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 Queensland Forecast: Best Suburbs to Invest in Queensland 2022

For cashed-up southern buyers, migrating to a beachfront or Esplanade Hervey Bay 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 who 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 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 in 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 more than $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 house prices as well as the exorbitant cost of renting.

*Check this page out about  PROPERTY APPRAISALS. PROPERTY VALUATIONS. MARKET UPDATES.

Suburb Profile Updates Inc Median House Prices Hervey Bay & Maryborough

The real estate agents at Property Brokerage are your go-to property specialists in the area. If you have a property that you’d like to sell, be sure to call the office on 07 4125 6692 or get in touch directly with one of our agents.

Are you looking to sell now and take advantage of increased Hervey Bay property prices? None of us can 100% guarantee what the future Hervey Bay real estate market will look like but we do know that the banks are tightening up on lending, interests have risen and the local property market may slow down.

Latest Market Updates. Check Out Our RealEstate Hervey Bay Property Market Updates

Our Hervey Bay or Maryborough area real estate suburb reports provide a snapshot of current real estate property value in each specific area, town, or suburb. The report includes details such as the number of properties in the suburb, those that are for sale or have been sold recently, their median value, median rental prices, e.g., Maryborough / Hervey Bay Median House Price
*Be sure to check out our informative Latest Hervey Bay Real Estate Market Updates. Each suburb update is presented as an easy-to-watch video.

latest hervey bay maryborough real estate suburb reports

Real Estate Hervey Bay Queensland 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 proximity to Fraser Island.

According to research by population.net.au, Hervey Bay population will reach 58,928 by the end of June 2023.

High Relocations to Regional Areas. Steady Hervey Bay Real Estate Queensland Growth & Property Prices

People moving into the vicinity will need somewhere to call home. They will either be renting or buying a house in Hervey Bay or Maryborough. A higher realestate Hervey Bay Queensland demand for housing means that Hervey Bay property prices should stay steady or may continue to rise so long as demand exceeds supply. There are many factors that can influence rising demand levels within a suburb or region.

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 soon.  Now is the best time to sell. Be sure to get in before real estate Hervey Bay Queensland property prices start to drop.

free property report

 

 

 

 

*For more information about Hervey Bay Real Estate Market and Property Forecast 2023 – 2024 be sure to contact any of our professional sales agents listed below. Alternatively, call our office directly on 07 4125 6692 or visit us in person.

OUR REAL ESTATE HERVEY BAY QUEENSLAND BROKERS & SENIOR PROPERTY MANAGER

Brian Thompson Ph: 0438 132 215 / Email: sales@propertybrokerage.com.au
Kieran Kerwick Ph: 0472 638 850   /  kieran.kerwick@propertybrokerage.com.au
Leigh Johnson Ph: 0447 082 099  / rentals@propertybrokerage.com.au

Frequently Asked Questions

What is the median house price in Hervey Bay Queensland 2022?

In the first quarter of 2022, Hervey Bay had a median house price of $590,000, while the median unit price was $391,000. This indicates a year-over-year (Q1 2021 – Q1 2022) growth of 35.6% for houses and 26.1% for units.

Does Hervey Bay ever flood?

Hervey Bay can experience occasional flooding during extreme weather events, but it’s not a frequent occurrence. It’s important to stay informed about potential flood zones when considering properties in the area.

Why is Hervey Bay so Cheap?

The primary reason for the affordable housing market in Hervey Bay and its surrounding areas is the lack of a significant boom in the building industry. Unlike some other regions, Hervey Bay has not undergone substantial changes or rapid growth in its construction sector since the early 2000s. This relative stability has contributed to a more balanced and affordable housing market in the area.

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1 thought on “Real Estate Hervey Bay Queensland Property Prices
Optimum Lifestyle. Huge Growth.

  1. Australian Property Prices

    Thanks for sharing information about property prices . This is really amazing. Love your ideas.

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