A HOT SUMMER PREDICTED
The team at @ Real Estate Yeppoon are expecting a very busy summer as buyers are looking to make a sea change to the beautiful Capricorn Coast. You most likely already know how lucky the residence of the Capricorn Coast are with our laid back beachside lifestyle and amazing weather all year-round. However, there are a surprising number of compelling reasons why more and more people are making the sea change to the Capricorn Coast, this summer;
We have witnessed an increase in buyers and tenants alike moving to the area as employment opportunities increase, especially in the resources, construction and tourism sectors. Causing a fundamental shift in supply and demand for houses. For almost a decade the Capricorn Coast has experienced an oversupply of housing which has caused prices to continue to decline to unimaginable lows. However, if the current levels of interest continue we expect to see a shift in supply and demand for properties on the coast, which will see an increase in prices once the supply and demand situation is levelled out. We are already seen a sharp decrease in rental vacancy numbers, which is generally considered the first sign of a changing market.
Along with increased in employment opportunities new residence are attracted by the housing affordability of the area. The mean dwelling price in Australia is $679 100 whereas the median house price in Yeppoon is only $326 800. I don’t know about you, but I’d rather live at the beach, than endure the rat race every day, so it seems the Capricorn Coast house prices have nowhere to go but up. Making the Capricorn Coast an attractive option for those moving to the area from the southern cities. Add an expected population growth of an extra 20 000 from 37 455 approx. currently to 57 042 by 2036 and declining stock levels with approx. 300 less properties for sale than there was this time last year and you have the magic formula for a rising property market.
There is no denying a lot has changed on the Capricorn Coast over the last 3 to 5 years. As buyers either come to the area for the first time or first time for a few years, they are impressed by the level of activity in the area. With an increase in local infrastructure development such as the Yeppoon Foreshore and Town Centre Redevelopment and Local Disaster Management Centre etc.
It’s always a few degrees cooler at the beach, as the days get hotter so do the buyers looking to escape from Rockhampton to coast looking to cool off.
Furthermore, historically sales volumes decrease in the lead up to elections, as buyers wait to see the election results looking for stability and leadership. Now we know who’s who in the Zoo for the next few years buyer numbers are expected to increase over the summer.
There is now overwhelming evidence that the Capricorn Coast has hit the bottom of the market and is now the rising star for property investors moving forward.
Written by Natalie Gesler
@ Real Estate Yeppoon