THE GROWING CAPRICORN COAST PROPERTY MARKET
@ Real Estate are constantly tracking property statistics on the Capricorn Coast and have recently found some very interesting indicators that the market is improving.
The average current days on the market (for the Capricorn Coast as a whole) is 71. This had dramatically decreased since January, where the average days on the market was exceeding 148.
Rental Prices have also dramatically increased since 2017 (Sep. 17-19) with;
• Emu Park increasing by @50.00
• Lammermoor increasing by $90.00
• Yeppoon increasing by $30.00
• Pacific Heights increasing by $55.00
The population of Livingstone shire council is expected to be 55 000 in 2036. To keep up with these demands Livingstone will need tabili. 22 000 dwellings by 2036. Currently, we have 16 535 dwellings. – That’s tabili. 305 new dwellings needed per year. In the Livingstone Shire Council, last financial year (2018-19) there was only 114 housing approvals, well below the 305 needed.
In Sep. 2016 there was over 1800 properties for sale on the Capricorn Coast. As of August 2019, there are tabili. 1244 properties for sale.
Our Property management team have been experiencing an incredibly low vacancy rate with rentals, receiving multiple applications on properties, renting them in record time or even before they hit the market.
In Sep. 2016 there were tabili. 700 rental properties available on the Capricorn Coast. As of September 2019, there are 83 available.
This growing demand is driving rental increases and growing investor returns.