Tough competition but still most affordable for families
FRASER Coast remains the most affordable tourism centre in Queensland to live according to figures released by the state real estate body.
REIQ's Market Monitor report for June shows a three-bedroom house in the 4655 postcode will set you back an average of $315 a week.
Compared to a median of $310 in 2017 and $280 five years ago covering the Hervey Bay, Pialba, Scarness and Urangan areas.
Whereas in the suburbs of Burrum, Burrum Heads and Howard, which make up postcode 4659, renters paid a weekly average of $280 for the same three bedrooms.
Staying to the trend, these numbers are down from $300 last year but up from $260 five years ago.
Maryborough renters paid $270 for the same product which is $5 more than last year and a big jump from $255 five years ago.
A Hervey Bay two-bedroom unit will cost you an average of $270 this year per week compared to $260 last year and $250 five years ago.
A three-bedroom town house in the 4655 area will set renters back an average of $335 this year, a $10 increase from last year and $35 increase from five years ago.
The number of new bonds paid in the Fraser Coast have also declined over the past year which supports Harcourt's Hervey Bay business development manager Ashleigh Duffield's comments.
"It is a great time for first home buyers so they are just jumping into the market,” she said.
"And that's the thing, we have a lot of rentals that have gone up for sale and sold.
"Which means our renters have to find some-where else and in order not to lose our great tenants we need to shuffle people around.
"We don't want to lose them but we don't have the properties for them.”
According to data, the number of regional rental properties has held steady for the past year at about 10,310 dwellings.
The steady rental supply has been one of the key contributors to lower vacancies.
Maryborough's numbers dropped from 127 in 2017 to 125 this year, while Hervey Bay went from 188 to 144 and Howard's tightened from 17 to 15.
This is reflected in the REIQ data for the amount of new bonds paid for postcode decreasing from this time last year.