QLD Maryborough still has sub $150k houses

This popped up on my Linkedin timeline

216 Ellena Street Maryborough Qld 4650 - House for Sale #126668678 - realestate.com.au

Definitely a renovator.

I don't follow the regional markets at all but know Maryborough reasonably well as my grandparents lived up the road in Hervey Bay.

Given it's not that far from Brisbane and it has lots of facilities I was surprised that it is still possible to buy at those prices.

 

There's not a lot going for Maryborough as far as jobs/employment (unemployment over 10% last I checked). Wages/income are low. Also noticing a lot of drug/property crime in the news and hear some interesting anecdotes that make me wonder if it's getting worse.

On the upside, government services are reasonable, climate is great, and you're within a short drive to some great camping/fishing adventures. If I was inclined to pick up a secure government job, the mortgage repayments would seem like pocket change.

Also heard speculation Cooroy - Curra section D might be announced in the lead-up to the next Federal election, which would cut ~15mins off the trip to Brisbane and give you 4+ lanes from around 60k's south of Maryborough.

 

I think that house would be lucky to fetch 100k
Much better off spending 180k and getting a much nicer house
Having said that the rental demand is not very good at the moment

Definately good owner occupier buying though

 

What about flooding? Doesn't a lot of Maryborough ho Underwater every few years?

 

Same as Bundy. Only the parts that aren't on hills

 

Great observation RPI. Know nothing about the local demographic / socio issues that must influence but I’ve always loved driving through the place just to see the beautiful queenslander homes and shops / pubs in this classic old town. I think the same way about Ipswich. Perhaps harking back to their earlier commercial prosperity as railway / engineering districts. With sugar farming another factor back in the day. As an unskilled antiques ‘picker’ and scrounger I have sourced some great furniture over the years from both of these heritage towns as it turns out.

The local economy must be lacking drivers these days for sure as Maryborough is now one of the most affordable towns going around. I actually trawl Maryborough listings in search of a removal home for my acreage block they are that cheap, and they stay on market forever. Same homes would go for heaps more in other sizable populations. What a shame we can’t create new-economy jobs in centres like this instead of over-populating our major cities, as it seems a fairly live-able area on many levels.

 

Isn't there a fair bit of regular flooding there?

 

Flooding has been regular in Maryborough but it is also well documented where floods and where doesn't. Vacancy rates are tight in Maryborough, I attended a viewing for a rental 4/2/2 that had no less than 20 families through it. Maryborough is doing it tough on the job front however they do have the timber mill, the sugar mill, centrelink Call Centre, Telstra Call Centre and Prem Palaszczuk is claiming that the states trains will built in Maryborough again if she gets back in. The state member is very active in trying to bring jobs to the area. New Hope has had their mine approved which is reported to be 120 jobs. Maryborough does also have the jail which does bring undesirables to the area. Prices are down from a few years ago. I think Maryborough is a great positive investment with a bit of capital growth.

 

Prices have definately dropped over the past 3 years. Make sure you have a good real estate agent as your PM is my advice. In saying that i have absolutely fantastic tennants here too.

Ergon is also a major employer in the area too though a lot of people have taken VRs from the company in the past twelve months. rumour also is saying that big w may close down, leaving no major retailer here, only down at hervey bay. No kmart, target here either. Pack and save (think like a aldi store)opened up here about 6 months ago, seems to be doing ok.. also the first one in australia too.. from nz.

Aldi is also under a reno here atm too.. bringing in the self checkouts and revamping the store again.. had one 18months ago!

Atm trying to get a hold of a plumber is in order of 2+ weeks wait!

This is a great place to live cheaply! If you dont have a job coming here it is hard to get work, unless you are working in health area. That is a major grow point for the area. It takes me 5 mins drive to get to work, parking is free.

Brissy is only 2.5 hr drive away..