Fraser Coast is Australia’s most affordable property market
The Fraser Coast has been recognised as Australia’s affordable regional centre with the best future price growth prospects.
Nationally recognised real estate analyst, Terry Ryder, of Hotspotting, selected the Fraser Coast above other strong contenders, Launceston in Tasmania, Armidale, The Mitchell Shire in Victoria and Albury-Wodonga on the New South Wales/Victoria border.
“The Fraser Coast has a lot going for it,” Fraser Coast Mayor Chris Loft said.
“Housing and property are affordable and there are major infrastructure projects including $800 million to be spent on new solar farms, the $660 million Mary Harbour development, $240 Prescare facility in Maryborough as well as aged care facilities in Hervey Bay, $40 million Hervey Bay Hospital expansion and road works which are attracting activity and economic investment.
“Yet with all the infrastructure projects underway, house prices in the region are affordable.”
The revitalisation of the Queensland resources sector would also have an impact on the region, he said.
“Projects that were put on the back burner are being revived because commodity prices have improved,” he said.
“A lot of workers on those projects will live in places like the Fraser Coast and fly in, fly out.”
Mr Ryder’s observations have been backed up by Maryborough real estate agent Cassandra Price.
“There has been a pick up since August-September last year. It’s across all sectors of the market and the buyers are in all age groups from people looking to retire to young families,” she said.
“We are seeing interstate buyers fly in for an open house and buy the property. Last week I listed a 100 acre property at lunchtime on Friday and it was sold by that evening.”
The increased interest and activity could mean price rises, Mr Ryder said.
“The oversupply created as developers moved in between 2009 and 2012 is being absorbed; there has been increased sales activity in the past 12 to 18 months.
“There is potential for prices to start to rise, but the region remains affordable.”
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