House hunting this weekend? Here's our market snapshot
HERVEY Bay's real estate market is still on the rise while Maryborough remains even more affordable according to the latest report from property experts.
Herron Todd White's July residential month in review reveals renters in most property types are paying slightly more because of consistently low rental vacancy rates in the Bay.
There, duplex investors continue to see a six- to seven-per cent gross rental return while Maryborough's gross rental yields typically range between seven and 10 per cent.
Estimates place the steady demand for rental stock continuing for the short- to medium-term future.
The report notes sale prices of vacant land along the Esplanade have improved over the past few years as sites with views now sell for more than $500,000 for a quarter acre, while the same price will fetch you a block of flats in the Heritage City.
There is increased demand for older renovated homes located within a few streets of the Esplanade, some reaching more than $500,000, although there is still adequate supply below this price point.
The same money spent in Maryborough, HTW reports would "buy two renovated Queenslanders and still have change left over".
Capital growth is considered to be a lot slower in Maryborough however the area remains attractive for investors looking for a steady return. A popular choice for older Hervey Bay residents is the generic circa 1990s on-ground, two-bedroom, one-bathroom unit selling for around $220,000.
More modern town house type units in the Bay built circa 2007 with three-bedrooms and two-bathrooms range for between $260,000 and $320,000.
Based on data collected from CoreLogic, large lot sized Dundowran Beach properties consistently reach prices above $700,000.