Land lots attracting Hervey Bay investors: HTW

House and land packages are attracting investors in Hervey Bay, according to Herron Todd White’s latest August report.

The property investment firm says that lot sizes are steadily decreasing as higher density living rises.

“Investors are typically attracted to standard house and land packages which start at an affordable $330,000 for a basic 4-bedroom, 2-bathroom home with double garage.

“Lot sizes have been steadily reducing over the past five years as Council looks to promote higher density living particularly within the newly established estates located in the fringe areas of Hervey Bay.

“Over the past few years we have seen many duplex style dwellings constructed, with the floor plan providing 3-bedroom, 2-bathroom accommodation (with single garage) on one side, with an attached 2-bedroom, 1-bathroom flat (with single garage).

“These have been very popular with investors with most yielding 6% to 7% gross return, along with attractive tax depreciation benefits.

“This type of property is currently being marketed to interstate investors and we are yet to see a resale of this type of duplex.

“Investors who choose to purchase on the Fraser Coast have a very wide range of property to choose from, with new estates offering a range of turn-key quality inclusions to attract buyers,” the report stated.

A 2360 sqm lot allotment at 38/5 Glen Laton Court, Craignish (above) has been listed for $330,000.

A riverfront 1055 sqm lot allotment at 70 Traviston Way, Burrum Heads (below) has been listed for $350,000.