After a few years of lacklustre performance the Fraser Coast (Hervey Bay) market is rebounding strongly with land values up 10.3% over the last 12 months. Queensland land values increase That said, there are still good opportunities offering comparatively solid yields. Hervey Bay, however, is not huge and stock on the market has dropped 25% already over the last 6 months...and the numbers don't lie... so as per usual timing is key and speed is of the essence.
God, I hope so! My old boss thought it was a great investment opportunity. Moved up there 12 years ago, already had a unit on the Esplanade and bought (overpaid) a nice house. Also a block of land on some canal system. He has now been trying to sell them for ages. Hasn't been able to sell the house for $200K less than they bought it, for the last 5 years.
Yes, well as I said, there are still some good opportunities around in Hervey bay at the moment but stock on the market has dropped 25% over the last 6 months and prices are therefore moving higher.
The market definitely appears to be surging: a lot more properties in the price bracket above 500K have recently sold, for example, which is a strong indication that serious money is moving in to Hervey Bay.
I have a mate that been investing along the Esplanade for over 20 years ,and i hope the area does pick up as it was flat for a long time from what i'm told..imho..
Yes, Hervey Bay is comparable to any other city/town in Australia. It has experienced periods of price growth, decline and stagnation. That said, Hervey Bay had been quiet for a while but started picking up around 12 months ago and thus is poised for some solid growth over the next few years.
My family has invested in and out of Hervey bay for 30 plus years. It has had a long down run this time. I have 2 solicitors up there (one Hervey Bay, one Maryborough), they are both long term locals and think the market is turning again finally.
Hervey Bay has been flat for quite awhile the area seems a lot more active now then it has been in the last 10 years. We just got a 10k land value increase from council out in Toogoom which is around the same value council valuation was 10 years ago before the GFC and prices dropped. Houses under 300k seem to be moving pretty quick and quite a few in the top end have sold recently. Toogoom, QLD 4655 Sold Property Prices & Auction Results - realestate.com.au Hervey Bay - Greater Region, QLD Sold Property Prices & Auction Results - realestate.com.au. 4/2/2 homes are getting around 340-360 a week rent and are very few under 300,000 in Toogoom. No brick homes are under 300k 12 months ago you could have your pick... NBN available in Toogoom in July. Point vernon has a few good buys around at the moment unsure why under 300k transport schools beach shopping all close by. Boat Harbour dive in Urangan is still reasonably priced however it is the main drag of Hervey bay so quite noisy close to everything. Good shopping restaurants nice beaches good schools public and private new hospitals and retirement village. Flights to bns,syd,mb for around $80 if you google deals etc. Would be nice if they had direct flights to rocky Mackay etc. Quite a few jobs in aged care,Nursing and retail. Tradie jobs picking back up finally painting, concreting etc. Have seen quite a few new faces with school aged children int the last 2 years. If I had the funds I would be snapping up properties 4/2/2 under 300k with a bit of DD. I have a properties in the area so so take this post with a grain of salt and do your own DD.
Hey guys, if you're interested in the general observations of the area, I was up there in Feb for a holiday and I liked what I saw. Haven't been there before this trip though so unfortunately nothing to compare to. Here's my write-up: QLD - Hervey Bay is it Finally Picking up?
Nice write up I have been here for around 18 years with a few moves out west etc it has been a long time coming since it bottomed in 2008..
The ''Hinkler Regional Deal'' that was just signed off will be an absolute game changer for Hervey Bay with 125 million going directly into Hervey Bay and another 135 million to be spread across the Wide Bay Region. Yes..there is still plenty of land being developed in Hervey bay...but like any other coastal city... the new developments are further and further away from both the water and the CBD with smaller blocks as well though. And despite the new developments...total stock on the market is continuing to decline...and thus prices have been rising slowly for a while but will most probably start to rise faster...so anyone considering either a PPOR or investment property in Hervey Bay should perhaps act sooner rather than later. SQM Research - Property - Total Property Listings - 4655
i like hervey bay but this news is not a game changer its snore worthy news at best 130 mill - council.will absorb most of that into wages, 10 mill on waterfront sculptures and the balance on unwanted roundabouts
Some of all government money is always used for administrative purposes. Regardless of the above, however, Hervey Bay is not a huge place. So I still think its reasonable to assume that there will be some very positive short, medium and long term flow on effects from the fiscal stimulus package for the local economy and thus the property market.
just had a virtual meeting with a friend who have not seen for years, he has been looking to buy a PPOR/Holiday house HL package in Hervey Bay anyone know whats it like living there? I think hes pretty serious about it too, reckons he can get a water front property for $500k
Nice place, relies on tourism. If it was me I would have a look at deceased estates and pay way less than 500K (not cos of COVID BTW but because of age of population Properties search - The Public Trustee of Queensland Plenty of options way under 500K. Cheaper one in Torquay at the moment. I don't think it is easy to find work up there. The only question i would have is that the Gold Coast might also be a competitor (better climate?). But Hervey Bay has better Whales. Overall nice place. Your friend should go on holiday up there and not return. ie. check it out, stay a while and make the move
Hervey Bay is essentially a beach-side city that's growing rapidly in terms of population and infrastructure and facilities. It's considerably less expensive than its bigger southern brothers (Sunshine Coast and Gold Coast). It's also much less congested and thus offers a quieter lifestyle too. Plenty to do if you enjoy aquatic activities (beach, sailing, fishing, ect). Great climate as well. Hervey Bay has numerous Facebook community groups...always an excellent source of qualitative information in terms of the distilling the good, bad and ugly.
