The @ Real Estate team are seeing a return of property investors to the local Capricorn Coast market. Over the last 6 months 31% of all @ Real Estate buyers have been investors. This is simply due to rising rents making returns more attractive, with promising signs of an improving property market combined with our natural beauty and charm of course.
For example in 2017 the average rent for a home in Lammermoor was $340 per week, when in 2019 the average for Lammermoor rose to $430 that an increase of $90 per week, more than a 25% increase over the last 2 years. Taranganba has also experienced a significant increase in rent over the last 2 years, in 2017 the average rent in Taranganba was as low as $310 per week, and in 2019 increased to an average as high as $420 per week.
As you would imagine, median house prices appear to have increased during this time as well, for example in December 2017 the median house price in Taranganba was around $301 000, and in December 2019 increased to $381 000. The good news continues as the average days on market for Taranangaba in December 2019 was only 56 days, where as it took an average of 77 day to sell a home in Taranaganba in December 2017.
While most Capricorn Coast suburbs are reporting similar results, let’s look a Barlow’s Hill for good measure to demonstrate how wide spread this improvement is. In Barlows Hill in December 2017 our records show the median house price was $305 000, with an average rent of $320per week, and an average days on market of 75 days. Where as in December 2019 we recorded for Barlows Hill a median house price of $336 250, an average rent of $462 per week and the average home only took 32 days to sell.
These results show how much the Capricorn Coast housing market has improved over the last 2 years. There are still many promising signs ahead for our piece of paradise.