Whitsundays Market Update
1st
Half 2025
In Q4 2024, Whitsundays* had a median house price of $775,000 and a median unit price of $445,000.This is an annual (Q4 2023 - Q4 2024) growth of 40% for houses and 27.1% for units. Comparing Q4 2023and Q4 2024,sales surged by 45.6% (to 83sales in Q4 2024) for houses and by 11.2%(to 99 sales in Q4 2024)for units. There is a highly demanded market in Whitsundays*, thus anideal time for owners tocapitalize on their investments. Units saw a higher price growth than houses, due to buyers switching their focus to secure a property. Without any standalone houses planned in the 2025pipeline, buyers need to act fast.
FROM LAST HOUSE MEDIAN PRICE HOUSE RENTAL PRICE
Whitsundays£ will see approximately $589.6Mofnewprojectscommencing constructionin2025
HALF
A key mixed-use project is St Bees Boulevard Retirement Village & Residential Subdivision, a 46.01hectare land to be reconfigured into 199residential lots across 10 stages. The project includes a retirement village, with 226 independent living units. Stage 1 is slated for 2025.
MEDIAN PRICE Q4 2024 MEDIAN PRICE Q4 2024
AVERAGE DAYS ON MARKET Q4 2024
32 $775K $445K
45
AVERAGE DAYS ON MARKET Q4 2024
Another key project is the Edenvale Cannon Valley Master Planned Community, by Alder Developments. The project will build a masterplan on a 102.2-hectare site, creating 500+ residential lots and over 900homes, ranging from 1- and 2-bedroom units to detached 2 storey homes on large blocks. This project is currently in early stages, including a consultation time with the wider community.
Aside from these there are few other residential projects planned in the Whitsundays. However, these primarily consist of new land lots and requires time forconstruction. The lack of new houses in the immediate/short term will likely drive property prices higher.
AVERAGE VENDOR DISCOUNT*
Average vendor discount reflects the average percentage difference between the first list price and final sold price. A lower percentage difference (closer to 0.0%) suggests that buyers are willing to purchase close to the first asking price of a property.
Average vendor discounts between Q4 2023and Q4 2024 have widened to -3.3% for houses and -2.5% for units. Market conditions in Whitsundays* still favour buyers, as sellers willing toaccept below the initial listing prices. Although there is currently a discount, with very limited new supply this may notlast. Thus, now is an ideal time for buyers to enter the market.
The suburb of Whitsundays has outperformed the wider Whitsunday Local Government Area (LGA) for house prices for the past 5 years, and on-par for unit prices. This trend has continued in 2024,for both property types. The suburb of Whitsundays remain a premium suburb, even with a steadier price growth rate compared to 2023.
Most of the houses sold in Whitsundays* across 2024were in premium price point of $900M and above (25.6%). There is a relatively balanced market overall, with the more affordable price range of $600,000 - $699,999and middle-price range of $700,000- $799,999recording the same number of sales (21.8%). A similar balanced market is also evident for units, with the middle-price range of $400,000-$499,999being the most dominant (25.7%).
MARKET COMPARISON
Whitsundays (4802) House
Whitsundays LGA House Whitsundays (4802) Unit Whitsundays LGA Unit
The market comparison graph provides a comparative trend for median price of houses and units over the past 5 years. The main LGA chosen was based on their proximity to the main suburb analysed, which is Whitsundays.
PRICE BREAKDOWN 2024
UNITS SOLD HOUSES SOLD
than $299,999
$300,000 to $399,999
$400,000 to $499,999
$500,000 to $599,999
$600,000 and above
RENTAL GROWTH 2025€
House rental yields in Whitsundays¥ was 4.8% as of December 2024, lower than Whitsundays LGA (5.7%) and QLD North Coast (5.1%). That said, median house rental price in Whitsundays¥ increased by 6.8% in the past 12months to Q4 2024, at $780per week. The number of housed rented increased as well, by 24.5%(to 66 houses in Q4 2024). This indicates high demand and a competitive house rental market in Whitsundays¥, which is beneficial toinvestors.
3+ bedroom houses have provided investors with +13.1% rental growth annually, achieving a median rent of $735per week.
Whitsundays¥ recorded a vacancy rate of 1.4% in December 2024, below the Whitsundays LGA’s average of 2.3%and QLD North Coast’s 1.5%. Vacancy rates have increased in the past 12 months, due to investors returning to the market. However, a 1.4% vacancyrate is well below the Real Estate Institution of Australia’s healthy benchmark of 3.0%,indicating a tight rental demand and quicker occupancy of rental properties in Whitsundays¥ market. This creates a conducive environment for investors, even with a higher entry price in the past 12 months.
RENTAL VACANCY RATES 2025
Whitsundays (4802) Whitsundays LGA QLD North Coast REIA 'Healthy' Benchmark
Whitsundays¥
PROJECT DEVELOPMENT MAP 2025 ₳
WHITSUNDAYS
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REFERENCES
* Whitsundays sales market data and key indicators encapsulates aggregate property market conditions within the postcode of 4802.
** Estimated values are based on construction value provided by the relevant data authority and does not reflect commercial and/or re-sale value.
# 2024 encapsulates sales transactions for the 2024 full year (01/01/2024 – 31/12/2024).
€ Annual rental growth is a comparison between Q4 2023 (01/10/2023 – 31/12/2023)and Q4 2024 (01/10/2024 – 31/12/2024) house median rent figures.
¥ Whitsundays rental market data encapsulates aggregate property conditions within the postcode of 4802.
§ Rental yields shown are as reported as of December 2024.
₳ Project development map showcases a sample of upcoming projects only, due to accuracy of addresses provided by the data provider for geocoding purposes.
£ Projects refers to the top developments within the postcode of 4802.
µ Estimated value is the value of construction costs provided by relevant data authority, it does not reflect the project’s sale/commercial value.
ψ Commencement date quoted for each project is an approximate only, as provided by the relevant data authority, PRD does not hold any liability to the exact date.
Source: APM Pricefinder, Cordell Connect database, SQM Research, Esri ArcGIS.
Disclaimer: PRD does not give any warranty in relation to the accuracy of the information contained in this report. If you intend to rely upon the information contained herein, you must take note that the information, figures and projections have been provided by various sources and have not been verified by us. We have no belief one way or the other in relation to the accuracy of such information, figures and projections. PRD will not be liable for any loss or damage resulting from any statement, figure, calculation or any other information that you rely upon that is contained in the material.
Prepared by PRD Research. © All medians and volumes are calculated by PRD Research. Use with written permission only. All other responsibilities disclaimed. © Copyright PRD 2025.
