Hervey Bay’s Property Market Thrives

HERVEY Bay’s property market has seen significant growth and it’s easy to understand why. The building boom, return of international migration, and renewed interest from investors have all played a role in the success of the real estate market. In addition, the lifestyle shift towards a more relaxed pace, the growing aged population, and a stable economy with a high concentration of health workers are also contributing factors. The projected population growth of 28.45% from 2021 to 2041 and the expected addition of over 700 new housing products per year indicate a bright future for the Hervey Bay property market. This coastal town offers a desirable blend of lifestyle opportunities, and a relaxed atmosphere, making it an attractive location for those seeking a sea change. The growing aged population, with an average age of 51, makes Hervey Bay a popular choice for retirees.

While the lifestyle and scenic beauty of Hervey Bay are certainly appealing, the stable economy provides a sense of security that is equally important. The high concentration of health workers provides stability and job security for residents and investors.

In terms of housing prices, since March 2020, the median house price has increased by 69%, while rent prices have increased by 32.4%. This

is indicative of the growing demand for property in Hervey Bay and the strong performance of the real estate market.

In conclusion, the Hervey Bay property market is thriving, and there are several factors contributing to this success. From the building boom to the stable economy, it’s clear that this coastal town offers both residents and investors a lot of opportunities. With projections of growth and an expected increase in new housing products, now is a great time to continue to invest in the Hervey Bay property market.

with GLEN WINNEY of FCPIA @fcpia.frasercoast www.fcpia.com.au