'Sea change for battlers' is a property investment hotspot
HERVEY Bay has been named in the top three Queensland areas for growth and return for investors.
A report from hotspotting.com.au founder Terry Ryder lists 10 Queensland hotspots with strong investment prospects.
Hervey Bay came in third behind Brisbane's Northside and Cairns.
"Hervey Bay's housing market was flat from 2010 to 2012 but is now showing signs of growth - and is likely to be boosted by growing numbers of fly-in fly-out mining workers settling in the area," he said.
The report also described Hervey Bay as a "sea change for battlers" and said an average home in Urraween cost about $330,000.
After a promotional blitz on the region's positive development by Mayor Gerard O'Connell and Fraser Coast Opportunities, Mr Ryder acknowledged the important projects in Hervey Bay.
"The development of major new medical facilities is likely to increase the area's appeal for retirees," Mr Ryder said.
Real Estate Institute of Queensland Fraser Coast chairwoman Linda Bland agreed Hervey Bay was a good place for investors.
"It's a great time for investors at the moment," she said.
"The tenancy vacancy rates are very low so it's quite a good market for the investor."
Ms Bland said the lifestyle was an important aspect investors considered and she said with golden beaches and warm weather, Hervey Bay performed well.
"We've got so much going for us," she said.
Mr Ryder's report shows Dundowran Beach has the highest median price at $521,000.