Ideal time to invest in property on the Fraser Coast
PEAK demand for rentals and some of the most affordable asking prices in the state have aligned to attract a fresh run of property investors.
According to the Real Estate Institute of Queensland, the Fraser Coast started 2017 in weak territory with 3.9 per cent vacancy rates but by December reached the lowest level all year with 1.6 per cent.
That is the lowest level reached since June 2008.
The strong results bring the region in line with rental vacancies on the Gold and Sunshine Coasts.
But Raine and Horne Hervey Bay sales manager Tim Wessling said local agents held the trump card - property price tags here are significantly less than those being spruiked by their southern competitors.
He said strong competition in the rental market also meant investors could be confident of getting quality tenants in as soon as properties settle, reducing mortgage stress.
"With the increasing population, properties still available at an affordable level and low interest rates, now is the time to invest," Mr Wessling said
"The advantage of investing in Hervey Bay is we don't have the booms and busts of city markets. We are a steady market place.
"As Hervey Bay continues to grow in popularity we've seen increasingly strong bookings for holiday rentals as recently as the Christmas-New Year period and we are looking forward to the upcoming Easter period and a great 2018."
Elders Hervey Bay agent Jacqueline Farag agreed the region was on the verge of a "very positive incline".
"There looks to be a boom in that area, because if people invest $400,000 into the Sunshine or Gold Coast they won't get as high a return as they would investing in a place like Hervey Bay," Ms Farag said.
"Most investors are really looking for properties under $350,000, so there is quite high demand for investors.
"We're also starting to see an increase in the number of family buyers, mostly with two or three kids."